Decision making is becoming the basis of competitive advantage and value creation. If markets give all organisations access to similar resources globally and competition causes many routine business processes to converge on world-class standards, the quality of decision making could become the key differentiator. Finance transformation provides an opportunity for the F&A function to improve its operating efficiency and provide high quality financial and management information to support decision making. It also provides an opportunity to improve its effectiveness by engaging finance personnel with the skills to collaborate with the business to contribute to improving decision making and business’s financial performance as finance/business partners.
The top performing CFOs are more inclined to see decision support as a major focus of their role and less inclined to see cost control as their priority. These CFOs are also more likely to have a clear vision for the F&A function that they have shared with the business.
The Economist Intelligence Unit