Large corporate finance teams have worked hard in recent years to standardize and cut the costs of transaction-oriented activities. Now companies are using rigorous process improvement methodologies to raise the quality of business analysis being done by finance and increase the alignment between day-to-day financial operations and overarching strategic imperatives. Specifically, innovative finance teams are adopting the tenets of business excellence--the systematic use of quality management principles and tools.
According to APQC survey results for its study on finance transformation, those who were personally involved in finance process improvement programs (regardless of role) more positively perceived change management and implementation in their organizations than mere observers or non-participants. This article explains best practices in project management and the importance of employee buy-in to the finance transformation process.
Read the full report: Fixing Finance: Advice from Experts