The finance function is being pulled from all directions as CFOs are asked to fill multiple organizational roles while continuing to instill financial discipline and drive value creation. For CFOs to meet their expanded mandates, the finance function must be broadly upgraded and its capabilities extended.

Every organization will take a different path on this journey, though many stops will be the same, such as designing new processes and controls; implementing standardized financial systems; or improving planning, budgeting and forecasting capabilities. Most finance functions have multiple needs and quickly discover that ad hoc improvements simply aren’t sufficient. Often, broad and deep strategic finance transformation is required.