Finance - Insight
The key components of finance transformation
Finance transformation encompasses strategic initiatives designed to revolutionize the way the corporate finance function manages its strategy, processes, internal controls and financial reporting.
CFOs need a finance function that drives the strategic ambitions of the enterprise. To create more business impact, finance functions may need to reimagine their strategy, leadership, operating model, talent and/or technology.
Mandala Business Quarterly
Enterprise leaders have expanded their focus on AI technology, and more than 50% of executives plan to increase their investments in AI initiatives. However, the question remains: What steps should companies take in the next 12 months to stay ahead of the competition — while protecting against pitfalls known and unknown?
Download this edition of GBQ to discover:
- Big questions about how to invest in GenAI
- What GenAI means for your talent strategy
- 4 key decisions to make when creating a generative AI policy
Proactively empower your customers
As the pandemic has forced rapid digital migration on customers, financial services firms must preserve the quality of the customer experience in every channel. With customers who have shifted to digital, previously high-touch institutions must find a way to maintain these formerly in-person-based customer relationships in multichannel environments. But only 35% of FS Leaders believe they have the capabilities needed to address future customer trends. Download our infographic to get insight into the six turns that will be critical to the future of customer value in financial services.
Prepare for the future of work
As we move into a post-pandemic era, leading financial services organizations will center the workplace of the future around a truly hybrid environment. As organizations transition to a hybrid work model, they must shift from an office-centric to a human-centric work design that embraces flexible work experiences, intentional collaboration and empathy-based management. Leaders must address these challenges while minimizing turnover, maintaining the culture and facing scrutiny on diversity and inclusion practices.
Efficient
Growth
Strategy
Drive top- and bottom-line business growth simultaneously
Finance leaders must manage costs in ways that won’t inhibit long-term growth potential. Will the funding decisions you make now drive efficient growth or harm your company’s standing in the industry?
Access 4 best practices from the 60 companies that defied the odds and grew over a 20-year period.
- Increase cost agility
- Detect early cost warnings
- Make smart reallocation decisions
- Encourage transformational growth bets
Pressure On the finance function to speed up
Nearly three in four finance organizations face pressure to speed up in the increasingly competitive, dynamic and volatile business environment. Download Gartner’s research to learn: Top 10 slowest finance function activities Two biggest threats to finance efficiency Three keys to a faster finance function
How can finance functions be faster and do more with less
On average, finance is the third-slowest operating corporate function behind legal and IT. Seventy-three percent of finance functions face pressure to speed up. As request volume skyrockets and budgets stay flat or are reduced, finance leaders tell us they are looking for new approaches to finance operational efficiency to meet growing business needs.
Finance Analytics and Data Analysis Initiatives
Nearly two-thirds of board directors said their organizations are in the process of becoming more digital — with greater emphasis on digital revenue, digital margins and digital productivity.
In response, progressive finance leaders are turning to data and analytics (D&A) innovations to provide executives with better information to drive digital strategies. What D&A trends should finance leverage to enable a more data-driven organization?
Download Mandala eBook to learn the top D&A trends finance leaders should know.