{"id":96843,"date":"2022-04-21t13:20:43","date_gmt":"2022-04-21t17:20:43","guid":{"rendered":"\/\/www.g005e.com\/?p=96843"},"modified":"2023-10-05t09:12:31","modified_gmt":"2023-10-05t13:12:31","slug":"corporate-finance-ripe-for-transformation","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/04\/21\/corporate-finance-ripe-for-transformation\/","title":{"rendered":"the big battles ahead for corporate finance"},"content":{"rendered":"

advisory board members say it\u2019s happening \u201cwhether a cfo chooses to do it or not.\u201d<\/strong><\/p>\n

\"\"by the center for accounting transformation
\nimprovetheworld.net<\/a><\/em><\/p>\n

according to a group of corporate finance professionals, one of the most significant issues facing corporate finance teams is refocusing team members toward higher-value work such as interpreting data and advising on issues and solutions rather than allowing them to continue performing rote, manual tasks.<\/p>\n

related: <\/strong>\u00a0top issues for 2022: talent, time, and transformation<\/a><\/p>\n

learn more<\/strong> about the center\u2019s audit advisory board<\/a> or view the center\u2019s transformation courses.<\/a><\/p><\/blockquote>\n

\u201cthe biggest risk that is clear to me is to continue the antiquated and outdated people strategies, performance, process, understanding, lagging platform adoption, and not understanding the deep relationships that we need to build instead of keeping the status quo,\u201d offered chris ortega, ceo of fresh fp&a. \u201cto me, that is 100% the biggest risk that we now face in the accounting and finance\u00a0 space.\u201d<\/p>\n

the center for accounting transformation\u2019s finance advisory board met in march to discuss the finance transformation journey and how the center can best assist with challenges facing finance teams.<\/p>\n

during the discussion, advisory board members identified several critical issues to consider. in addition to embracing change and adapting more quickly, finance professionals face software consolidation matters, staff optimization problems, and, like most in accounting, recruiting and retention concerns. ortega termed financial team\u2019s concerns the five ps: people, processes, platforms, partnerships, and performance.<\/p>\n

donny shimamoto, cpa, citp, cgma, the founder and managing director of intraprisetechknowlogies llc, added a sixth at the end of the meeting: purpose. shimamoto, who also founded the center, said, \u201cwe\u2019re seeing a lot of literature and articles about the connection back to purpose. we\u2019re doing that as well, at the center. accountants\u2014and everyone at our organization\u2014should be here to help give clients peace of mind, vision and clarity, and hope; and serve to help improve the world.\u201d<\/p>\n

the center created the finance transformation advisory board to help guide strategic direction, services, and program planning. the includes:<\/p>\n