CIMA, in association with Genpact, recently ran an executive briefing launching a paper about the efficiencies that external delivery of finance services can bring. It explored the challenges and opportunities finance transformation is creating in how finance services will be delivered.
Speaking at the event, CIMA CEO Charles Tilley said, ‘As the finance function continues to develop to meet business needs, management support and business partnering are playing an increasing role in organisations and reinforcing a finance transformation evolution.
‘The focus is being taken off traditional accounting operations where emphasis has been on the cost cutting and efficiency space. The finance team are increasingly being focused on and freed to concentrate on management support activities to deliver a collaborative business partnering function.'
Graham Baker, CFO North America and vice president North America at AstraZeneca, said that companies 'need to be taking a global approach to a global challenge.' Referring to a substantial change programme that the company had embarked on, he said, 'I believe it’s a mistake to focus on cost to the exclusion of other metrics. We won’t feel that we’re best in class until we’re delivering high quality at low cost.'
Read the report
CIMA’s report, sponsored by Genpact, aims to lift the lid on the opportunities and challenges finance transformation is creating in how finance services will be delivered, including:
- the impact of finance transformation on how finance services are expected to be delivered in future
- the likely service delivery models for growth and performance
- the way in which finance professionals can facilitate the required focus on management support
- how finance can ultimately help to better meet organisational goals and create value.
Download the executive summary (PDF 203KB) or order the full report.
Charles Tilley, speaking about the report, noted: ‘The vast majority of professionals surveyed globally believe that the involvement of finance in management support helps to better meet the organisation’s objectives.
‘The demand is increasing for the skills and competencies that management accountants bring to the business to drive forward looking analysis and sustainable decision support. Organisations are increasingly looking to their management accountants to guide them through the downturn.’
Hear more
Listen to a webcast, sponsored by Genpact, about the report. The speakers are Robert Jelly, executive director at CIMA, and Shantanu Ghosh, SVP practices, solutions and transitions at Genpact.