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.
Four leading finance professionals offered their perspectives on how to plan and execute successful improvements in vital financial management processes. The following is the information from Royal Dutch Shell, explaining the importance of standardization and knowledge management in finance transformation.
Read the full report: Fixing Finance: Advice from Experts