The role of the CFO has changed dramatically. In addition to ensuring regulatory compliance, overseeing management reporting and controlling transaction processing, the finance organization is often asked to support enterprise strategic initiatives in an increasingly competitive business environment.
Organizational leadership has turned to the finance organization to improve strategic decision-making, manage business risks, monitor and improve organization performance, explore the adoption of new technologies and tools, and drive shareholder value. The current focus on more strategic procedures, such as analysis, business partnering and decision support, results in many companies automating transactional functions. These additional responsibilities come at a time when the finance organization continues to be subject to more scrutiny and regulation than ever before, making it difficult to determine where to begin focusing improvement efforts.
As the role of the CFO continues to expand, precious resources within accounting and finance organizations have naturally become stretched to capacity. CFOs may not have time to ensure important initiatives such as the integration of advanced analytics and transformation of financial functions get the attention they deserve, on top of these structural demands, certain events often drive the requirement for highly capable external teams to provide assistance when it matters most.
Baker Tilly can help.
Our CFO advisory services practice focuses on helping CFOs identify, design and implement programs that transform finance to meet today's demanding requirements. We work with CFOs and finance professionals in developing flexible finance organizations that deliver transparent, efficient, forward-looking insight, while at the same time manage risk and compliance, effectively leverage capital and maximize liquidity.
