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.
In 2012, APQC conducted a Best Practices Study to understand how best-practice organizations achieved financial management excellence. This article provides an introduction to the research, including a list of 14 best practices for or building a best-in-class finance function.