To gain a better sense of the pulse of the market in 2016, earlier this year Host Analytics sponsored a survey that was executed by Radius Global Research. The survey was taken by roughly 250 Finance executives in North America. The key areas of focus included the mission of Finance, key Finance and
Transformation is a never-ending cycle, organizations can always find new ways to improve their business processes, but they must also look at modernizing the technologies and applications used to support the business processes to truly reap the benefits.
Over the past 10 years, the IT landscape has been shifting to a new paradigm – cloud computing. This is a major technology platform shift, much like
Slow global economic growth and a number of political and economic risks make it difficult to identify and pursue growth opportunities. While innovation is a key focus for many companies, cost and margin pressures make it challenging to invest in innovation.
This is the finding and subject of a recent Hackett Group survey and report titled “The CFO Agenda: Target Five Key Transformation Initiatives to Move Finance Forward.” The report’s key findings include the following implications
In the case of finance transformation, it’s often talked about in terms of re-engineering people, processes and systems to reduce costs, reduce cycle time, and make finance more strategic, ‘transforming’ it from a back-office scorekeeper function to a true business partner to the CEO and to the organization.
This topic is so broad, I’ve divided the information into two articles. In this part, I touch on the traits of modern CFOs, then
But this role for Finance isn't becoming reality in most businesses. The key to becoming a strategic leader is "Finance Transformation". What is it? Why aren't Finance departments embracing it? More importantly, what can be done about it?
What is Finance Transformation?
The Finance department must learn to move beyond simply processing transactions and delve into planning and forecasting.
That's a good question, and one that the folks at Peet's Coffee & Tea is more than capable and willing to discuss. Peet's went through this process, and came out a winner. Founded in 1966, Peet's went through an IPO in 2002. The business continued to grow, though not as fast as possible, until 2012, when it was taken off the public market and bought by private investment firm JAB Holding Company for just shy of $1 billion.
Peet's Coffee has four different business