Sunday, 6 February 2022
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.