Finance Functions: business partner AND driver of improvement

The Finance Function is the spider in the organization web. Finance is business partner for all organizational departments. Financials tell the story behind the numbers and bring rationality to business plans. The financial department is often leading in reporting.

By transforming itself into a high-performance finance function, the finance function can lead the way and drive improvement for the organization.

Our passion is helping and developing Finance, together with their leaders and professionals. After all, the potential to provide even more added value is big.

We build high-performing Finance Functions together with clients.

Building the High-Performance Finance Function

'Building the High-Performance Finance Function' describes the development towards a High-Performance Finance Function. It links six (validated) studies with practical examples. It bundles 'best ideas' and experiences of colleagues. With an inspiring foreword by Gary Cokins, performance management guru.

Ideal for finance professionals to find inspiration to improve the finance function.

In English, IGI Global, 2022, ISBN13: 9781799869290

More information

Issues of today

Click on picture for more detailed graph

 

The financial function has a typical fixed rhythm. Clearly defined periods with month-end closings; quarterly reviews and an annual budget round. This provides support and structure. However, it also leaves little room for structural development, improvement and learning. Issues of today reign and fire-fighting is predominant.

This is even more the case when this rhythm has to be followed with poorly organized processes, poor data quality and IT tools that are not state-of-the-art. Peak moments thus have to be absorbed by working even harder. The breathing space after the peak moments is often not used for structural improvement.

Still many finance functions manage to get the work done with 'blood, sweat and tears'. A world to win.

World of tomorrow

Click on picture for more detailed graph

 

We call this world the high performance finance function, or the HPFF.

In the HPFF the business partnering role of Finance, as desired by management, is achieved with effective financial processes. With smart tools that support all processes. With continuous development of the team and the finance professionals. By starting ánd completing improvement initiatives. By innovating from within, with IT savvy and flexible team players. With excellent collaboration between administration, shared services, financial and business control.

The HPFF looks like the image above: a Finance Function and its existing capacity with time for continuous improvement and development.

The world of tomorrow for Finance Functions.

HPFF Transformation

How we can we help. Supervision of the continuous development of the financial function (for instance during a few hours per week in the first 5 to 6 quarters after the diagnosis). Assisting in drafting the HPFF action plan, giving master classes for HPFF Coaches, facilitating, pushing and poking, stimulating and encouraging, in short coaching your financials to become high-performing

What does the transformation bring? A better functioning finance function, which is more focused with fewer errors and more room for continuous improvement. Created together with your employees from the financial function. The goal is for the finance function to independently continue the transformation process, after all, it is a continuous process.

HPFF Diagnosis

What we do. An introduction into the HPO philosophy, an assessment on the status of the HPFF factors, feedback during a workshop with all employees of the financial function.

What does this diagnosis bring? Insight into which HPFF factors and obstacles (entire Finance and per department) need priority, an answer to what the finance function will look like in 3 years, and an overview of improvement ideas, suggested and therefore supported by the employees of the finance function themselves.

Inspiration HPFF workshop / masterclass

What we do. Facilitating (part of) a day of your financial function. With or without a diagnosis, but in any case with inspiration and food for thought.

What does the workshop bring? Knowledge about the high-performing organization and the high-performing finance function, improvement ideas to apply in your own practice, and a fresh look from the outside on your finance function.

article

Gary Cokins: “Continuously Working on Future-Ready Finance Functions”

study

Digital transformation: how does the finance function deal with the digitalization transformation obstacles?

book

High Performance Managerial Leadership

FFR&D, an abbreviation of Finance Function Research & Development Center.

FF - Our passion is to advance the Finance Functions of organizations. We help finance leaders and professionals in their quest for excellence: the journey to a high-performing finance function. We do this by providing inspiration, insights and ideas for improvement and by implementing and developing these together with the customer. We draw on decades of experience in the finance function and still work in the finance function for 2/3 of our time.

R&D - Research into high performance is our foundation. We continuously invest in research ourselves, by regularly developing research questions with financial experts and publishing them on a scientific basis. In this way we develop ourselves, we maintain a connection with practice and we remain relevant for finance professionals. Our insights and ideas for improvement are based on our own research and tested in practice. We tell these during events and we regularly bundle them in books or articles. In this way we help leaders and professionals from financial functions. And we encourage them to take the next step towards a high-performing finance role.

More