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Top 10 Predictions for Finance Transformation in 2013

In APQC’s 2012 December financial management community call, Mary Driscoll, senior research fellow at APQC, and Wayne Daigle, managing director at Business Performance Collaborative, discuss what they think the top priorities are for finance functions in 2013.

Based on APQC’s recent Best Practices Report Building a Best-in-Class Finance Function and best-practice case studies, the following are the top 10 predictions for finance transformation in 2013.

  1. Design shared services models more strategically.
  2. Purchase and implement dedicated internal and external reporting software.
  3. Liberate valuable finance talent from manual, non-value-added work.
  4. Push towards a self-service model.
  5. Turn from historical modeling and reporting to more forward-looking support.
  6. Realize continuous productivity gains.
  7. Focus on soft skills training.
  8. Tie enterprise-wide and departmental goals to annual performance targets and compensation.
  9. Improve quality of data being used.
  10. Integrate elements of the finance transformation into a single vision.

In the wake of a financial and liquidity crisis when top-line growth is harder to come by, it’s simple: all boats don’t rise with the tide. You have to make your winning bets.

For more detail on finance transformation priorities, see the full discussion in Top 10 Predictions for Finance Transformation in 2013. To listen to a discussion on these top 10 predictions for finance transformation in 2013, see Best-in-Class Finance Functions: 2012 December FM Community Call.