The aspirational dimensions of the journey to financial management excellence are characterized by clarity and commitment. The finance vision statement (some call it charter) is a powerful motivating force among best-practice organizations. Employees know what their stakeholders expect from them, and their leaders provide them with the skills and knowledge needed to excel. There is a deep and sustained dedication to talent development, knowledge sharing, and continuous learning.
This report describes 14 best practices for building a best-in-class finance function. Topics include:
- the strategic purpose of the finance function,
- talent and organizational structure,
- continuous improvement initiatives,
- tools and techniques for improvement, and
- measurement and communication.
Also included in the report are case studies detailing the culture, programs, and initiatives of best-practice organizations: Company A, Cintas, Discovery Communications Inc., Intel Corp., ManpowerGroup, Northrop Grumman, and the Office of the Comptroller of the Currency, U.S. Department of the Treasury.