Winning nance organizations ocuson the continual development andenhancement o their capabilities—and enterprise growth is high ontheir strategic agenda. For example,only 12 percent o nance masterstold us that they would still be ocusedprimarily on cost control a year romnow, while more than hal said that atthat time, growth would be o equalimportance.Leading nance organizations alsohave an exceptionally clear governancestructure, organized to maximize com-petencies in support o their strategicagenda. For example, nance mastersmake a clear distinction between nan-cial planning and analysis on the onehand and accounting operations on theother, and they organize accordingly.Moreover, each individual part o thenance unction clearly understandsits role—not only internally but also inrelation to the enterprise as a whole.Most critically, the nance organizationas an integrated entity holds a keyposition at the heart o the larger enterprise, and thus is able to contributedirectly to the strategic priorities o the company.Consider, or example, the case o a leading global steel group, whichtransormed its previously decentralizednance unction into a single, globalentity as the rst step in a processdesigned to enorce groupwide respon-sibilities. The transormation, whichresulted in a new operating model andstrategic vision or nance within theenterprise, also created new reportingcapabilities and capital expenditure—and helped drive a signicant improve-ment in return on invested capital.
2. A value-centered culture
Finance masters understand that thecreation o shareholder value is thegoal o all enterprise activities. What’smore, they play a central role in drivingthat value.Indeed, thanks to their role inplanning and analyzing business
Focus of finance: Different perspectives
At many companies, there is a clear difference of opinion within the C-suite about whatrole the finance function should play. For example, whereas only a little more than a thirdof CFOs believe the finance function should focus primarily on growth-oriented activities,nearly half of other C-level executives think growth is where the focus should be.
Which one of the following should be the finance function’s overall focus in 12 months’ time?
Source: Accenture analysis
Primarily on investment ingrowth-oriented activities38%46%About evenly split betweencost control and growth4136Primarily on cost control2117Other C-level executives, including CEOs, COOs and CIOsCFO