The Finance Function’s Readiness for Change

Prepared by CFO Research in collaboration with WNS

An accelerated pace of change in today’s business environment warrants companies to become agile in the way they operate. Organizations including their finance functions need to make strategic improvements in their change-enabling capabilities so as to embrace change quickly and continuously. A transformation of this scale requires CFOs to adopt a multi-pronged approach; reducing complexities in processes and information systems, and becoming more sophisticated in the use of analytics and big data. But perhaps the precursor will be to bring about a pervasive cultural change aided by sustained commitment from the executive management. Equally important will be investing in organizational and process change – expanded use of Shared Services Centers (SSCs) / Business Services Centers (BSCs), technology upgrades, and importantly, in training and re-training of finance staff.

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