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Finance team improvement
Are you confident that your finance team is delivering what you need them to? How are the finance team viewed by the wider business (i.e. its customers)? What have you asked your finance team to deliver? Just historical results and compliance activities or do you want them to be a true partner in helping you to run the business?
Traditionally finance teams are viewed as a cost centre that produces the historical numbers, manages receipts and payments (cash) and deals with compliance issues. While these activities are important they may not help you much in the future activities of growing your business and driving performance.
A finance team producing forward looking information becomes significantly more useful. If this team is able to interpret this information, warn you of any likely issues prior to them arising, the value they bring to growing your business successfully going up significantly.
Further if the team is able to influence decision making for the better, improve the structure of customer contracts to drive better cashflow, profit or reduce risk, manage funding requirements, etc then you have team that really is starting to impact the business in a very positive way.
Would you like a finance team that does more for your business?
If so, we have a lot of expertise in taking underperforming teams or teams producing only the basics and transforming them into very strong teams that will help drive your business forward successfully. We can undertake a quick review of your finance team to give you an expert view on the performance of your finance team. We usually look at the following areas:
Business requirements & remit of finance team
Management, culture and approach
Staff skills, experience and capability
Capacity of team vs output requirements
Impact of system and processes
This gives you an independent assessment of your team and clear suggestions for areas of improvements. You can undertake the improvement work yourself.
Alternatively we are able to manage all aspects of improving your finance team using our skills and experience in this area. We have a strong and consistent track record of delivering results. Areas we cover include:
Structure of team
Selection and recruitment of new /additional staff
Objective setting and activity planning
Building commercial capacity
Coaching and training
Our experience covers most sectors so please contact us to discuss undertaking a quick review of your finance team.