The rise of new technologies, a technically literate population and economic influences make digitisation different from technological changes of the past. Examples are Blockchain, the implementation of Cloud as the dominant platform and the role of Artificial Intelligence in processing Big Data. These developments mean Finance will look radically different in 10 years’ time. But how do you cope with those changes and how do you know how the Finance Function can add value to the business and remain in control? Developing a future-proof, efficient and effective Finance Function calls for a sound approach that suits your business.
The right balance
As a CFO, striking a healthy balance between limiting risks, creating value and remaining in control of costs is crucially important. A clear vision, strategy and the optimum design of the financial function are indispensable to this. Integrated Finance Transformation focuses primarily on creating a vision and strategy for the future Finance Function, mapping out the optimum design of the Finance Function and supporting the transformation pathways.
From strategy to implementation with an integrated transformation approach
KPMG has a proven approach in the area of Finance transformations, which starts by understanding the objective of the Finance Function and aligning that with the company’s vision and strategy. Using a Target Operating Model (TOM), we give answers to questions like ‘how mature is the current Finance Function’, ‘what does the ideal Finance Function look like’ and ‘how do we close this gap in maturity’.
The Target Operating Model (TOM) is the DNA of the Finance Function. It describes how the Finance Function operates. With a Finance transformation, we redesign the DNA of the Finance Function and enrich the ‘existing DNA’ with ‘new DNA’ in order to deliver the Finance of the future. The six layers of the Target Operating Model are shown below.
Grip on transformation
Transforming towards the Finance Function of the future often involves big challenges. Adapting the business challenges you to take another look at systems, processes, organisation, people and how the different departments can work together seamlessly. How do you make sure you remain in control during such an impactful transformation?
We provide advice, lead transformations and bring in the right expertise. Years of experience within different sectors mean we are able to challenge the client and support them with the goal of a smooth and successful transformation process. Together we make sure the transformation does not disrupt the current business.
We offer a tried and tested results-based transformation solution that combines in-depth functional knowledge with a proven capacity to deliver and digital Process Excellence solutions to achieve sustainable change, improve performance and secure lasting added value. Our Powered Enterprise Solution guarantees integrated optimisation of your business services.