Transforming finance for the future

• Main Author: HOE, Siu Loon
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2013
• Subjects: Finance Function; Best Practices; Outsourcing; Technology; Management Information Systems; Organization Development
• Online Access: https://ink.library.smu.edu.sg/sis_research/5165; https://ink.library.smu.edu.sg/context/sis_research/article/6168/viewcontent/Transforming_finance_for_the_future.pdf
• Institution: Singapore Management University

Significant changes in external market conditions have resulted in operations placing greater demands on the finance function. Traditional finance departments are increasingly expected to deliver more value and be more proactive in supporting the organization's overall business strategies. Unfortunately, many finance departments are not yet ready to meet such challenges. This article proposes a transformation process to reorganize present day finance functions to become a finance of the future. The proposed process applies tools such as best practices, outsourcing and technology to achieve a desired future outcome.