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Defining the Finance Organization
Deliver Financial Excellence and best practices consistently through strategy, people, processes and intelligent systems
Song “Friends Forever” (Yang Kun and Zhang Liangying)
This list is composed of—The strongest, intelligent, desirable, popular, attractive, beautiful, successful women in 2015.
Yao has been at the center of a hostile takeover battle for China's largest real estate developer China Vanke Co Ltd (000002.SZ).
No one in Detroit has forgotten the snowstorm of 1999, when airplanes were mired for hours on the tarmac at Detroit Metropolitan International Airport. Likewise, US Airways encountered its own holiday mishap in 2004-05, when more than 72, 000 bags were lost or damaged.
Emma Thompson, a two-time winner for Howards End and Sense and Sensibility, famously keeps hers in the loo: “They look far too outré anywhere else. They’re great big, gold, shiny things.” She’s not alone – Susan Sarandon, Lionel Richie and Sean Connery all claim to keep their golden fellas alongside their bidets and baths.
Read about successful businesses. Take in the wealth of knowledge that’s been provided by successful entrepreneurs such as Steve Jobs and the personalities from Shark Tank. A successful business plan does not have to be a book. A 10-page plan is digestible yet long enough to include everything you need to start.
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.
- 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.