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Defining the Finance Organization
Deliver Financial Excellence and best practices consistently through strategy, people, processes and intelligent systems
Figures released by the International Society of Aesthetic Plastic Surgery (ISAPS), suggest that when population is taken into account, South Korea is now the world's largest market for cosmetic procedures.
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Everyone was hugely cheered that global greenhouse gas emissions were flat between 2014 and 2016, even though recorded global growth was OK. The trouble is that this wasn’t the improvement in global economic efficiency everyone celebrated, but just a slowdown in northern China. As this part of the world recovered its economic mojo in 2017, carbon dioxide levels began to rise again.
Designing a finance organization and its target operating model is not drawing boxes on a sheet of paper and is more than an organization chart that delineates the direct and indirect reporting relationships between different positions. Deloitte’s structured approach on Finance Organization provides a common view on the target business organization and defines or clarifies your vision and how the strategy can be operationalized.
CFOs also have to address multiple stakeholders and conduct their teams towards more business partnering, enhancing proactivity in seeking value creation for the organization from a Finance perspective. This deeply impacts how finance would like to execute its 4 main roles (also called “4 faces of the CFO”): Strategist, Operator, Steward and Catalyst.
In January, Wal-Mart (WMT, Fortune 500) U.S. president And CEO Bill Simon pledged that the world's largest retailer would hire 100,000 veterans over the next five years. In addition, the biggest private employer in the U.S. said it would offer employment to any honorably discharged veteran within his or her first 12 months off active duty.
The World Health Organization this year declared H1N1 a global epidemic. Fortunately, it is much less threatening than people previously believed, and newly introduced vaccines seem to have quelled lingering fears.
- Finance organization structure: your organization’s efficiency and effectiveness is heavily determined by its organizational structure of which characteristics are the organization model (e.g. functional vs. process), the number of layers (organizational levels having supervisory responsibilities) and the span of control (the number of people reporting directly to one individual).
- Systems & information: we help you assess the level of maturity of your technology and identify areas for improving the way systems are supporting people and processes: process automation, simplification and system rationalization are key examples of areas of focus.
- Executive clarity - having a common language for communication, comparison & change as well as a clearly defined understanding of the business. It also outlines the future size & shape of the organization.
- Local finance transformation & optimization - opportunity to truly optimize the size, shape, structure and delivery of the business.
- Strategic finance cost reduction – deeper than short-term cost cutting, a review of all Finance & Operations (incl.sourcing) is required to fundamentally change the cost/income ratio.
- Getting the ‘house in order’ – anticipating in order to have a clear articulation of the organization’s composition and its’ base lining.
- Strategic re-orientation – systemic issues within the organization and major corporate re-directions will require some unconstrained thinking. Reorganizing the Finance enables this process.
- Acquisition consolidation – a Finance Reorganization will highlight where the operational and IT synergies will come from and support the integration process.