Organisations are facing change at an ever-increasing pace due to developments such as globalisation, digitalisation, regulatory requirements and changing markets. To be and stay successful in this dynamic environment, they need to have an agile business model with the right management information.

As an information and control expert, the finance function is perfectly placed to partner up with the business in an effort to overcome these challenges. To take on the role as a business partner, the finance function must have its core financial processes in order delivering compliant accounting and reporting services as efficiently and effectively as possible. This will contribute to the recording of robust data and free up time for the finance function to proactively support the business. In addition to performing traditional accounting and reporting duties, the finance function is also expected to develop in other areas such as performance management, strategic decision-making support and risk & compliance.

Achieving your ambition for Finance

Many finance functions are finding it difficult to escape the everyday humdrum; their lack of resources and access to the right competencies are preventing them from moving beyond their traditional ‘bookkeeping’ role. BDO has developed CFO Services, which offers all the expertise finance functions need to optimise their processes, systems, organisation and management information. Our services do not lose sight of the human dimension; they include effective change management. We can assist finance functions in their transformation into the valuable partner the business needs and help them enter the digital era.

We offer the following services:

Finance Function Assessment: screening the current state of your finance function and devising a pragmatic transformation plan to achieve your level of ambition.
Finance Transformation: providing support in implementing the transformation plan.
Finance Process Redesign: streamlining and managing financial processes, such as the year-end closing and reporting processes (fast close, Audit Readiness), order-to-cash, purchase-to-pay, payroll and working capital management. We have access to digital technologies (such as process mining, robotics, continuous control) and can provide a documenting platform based on a Digital Accounting & Reporting Manual.
Performance Management: defining and implementing management information based on your strategy, designing management dashboards and include these in the plan-do-check-act cycle.
Strategic Decision-Making Support: using data analysis, business cases and project & portfolio management to help you to make the right choices in the next step in your strategy.
Risk & Compliance: creating risk control frameworks, setting up risk management and compliance structures.

Contact

To find out more about our services or to get us to share an illustrative client case with you, please feel free to contact one of our CFO Services specialists.