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A successful company needs innovative financial processes, which allow it to focus on value creating activities. Implementation of world class processes will generate free capacity to innovate. CFOs are in the business of performance management. As the key owners of financial data, they are in a position to strongly influence and promote a culture of innovation. They can so by establishing disciplined consistent processes that focus decision-making where it really adds value. |
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- Resource Allocation (Capital outlays, coupled with the related discretionary expenses) needs to ensure the future growth of the enterprise.
- This process needs to be consciously managed to foster innovation and growth.
- A structured, transparent process with strict yet relevant criteria can serve to force decision makers in the company to make decisions that minimize the status quo and focus on future growth.
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- We all become too attached to our projects and need to ensure they are aggressively scrutinized by the decision making team.
- Financial techniques used are important but so too is consistent analysis concerning the strategic positioning of the project.
- Consistent analysis throughout the planning cycle enables open discussion and debate.
- Good decisions are made when decision makers are able to decide between options that have been consistently evaluated.
- A change in the external environment should trigger a structured review of recent decisions
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- As a company you identify many goals to enhance value for your shareholders: satisfied customers, loyal employees, grow your top line, eke out more profit, increase return on assets.
- Success will only be achieved if all decision makers are aware of how each goal contributes to the value creation process.
- The introduction of a Balanced Scorecard can achieve clarity and focus to realize the long-term goals of the company.
- You can decide which of the most important goals to highlight to the management team and employee base.
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- We learn more from our failures than from our successes.
- This applies both to our personal experiences and to the collective enterprise experience.
- All too often we make the same mistakes over and over again because we don’t realize that they are mistakes. They are ingrained into our organizational DNA.
- Think of the power of the learning organization, the one that tries to learn from mistakes.
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We can help you in the execution of finance projects. |
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Finance
