Posts Tagged ‘finance function transformation’

A new report from The CIMA Centre of Excellence at the University of Bath (Finance Transformation – The Evolution to Value Creation) identifies 14 business partnering characteristics:

1. Advises on and supports decision making throughout the organisation.
2. Supports the management of risk and complexity.
3. Is valued by other parts of the organisation for the support it gives to their activities.
4. Is usually involved in the development and implementation of strategy.
5. Always advises managers on the business implications of data it produces.
6. Plays an active role in decisions on the business portfolio.
7. Originates cost reduction strategies for the whole organisation.
8. Is proactive in generating forward looking information to influence business strategy.
9. Directly communicates with external stakeholders concerning business performance.
10. Is involved in the organisation’s environmental, social and governance performance.
11. Initiates and leads change.
12. Leads in the identification and assessment of new business opportunities.
13. Doesn’t focus mainly on financial information.
14. Doesn’t undertake the traditional accounting work.

So if you are in or leading a finance function in a business, how well does your team stack up against these 14 characteristics?

Duncan Brodie of Goals and Achievements helps accountants and health professionals to become highly effective leaders and managers. For more information click here