Defining the Finance Organization has been saved
Defining the Finance Organization
Deliver Financial Excellence and best practices consistently through strategy, people, processes and intelligent systems
Property prices in Hong Kong have surged over the past decade, but hit a peak in September when jitters about China’s economy took hold.
That's particularly striking in Brazil, with its highly mixed population that has more blacks than any country with the exception of Nigeria. More than half of Brazil's population self-identified themselves as black or of mixed-race in the 2010 census.
With executive compensation in the U.S. rising and the income gap only getting bigger, it's refreshing to see a CEO who cares about more than his own paycheck. Lenovo(LNVGF) Chief Executive Yang Yuanqing announced in September for the second year in a row that he would share at least $3 million of his bonus with roughly 10,000 of his workers. The generous decision was a product of the personal computer maker's record sales that year. The average worker payout is equal to roughly a month's pay for the typical city worker in China, according to Bloomberg News.
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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.
Dawn Hudson, Academy CEO:
- 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.