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Apr 20, 2014
In the current market scenario, the CFO plays a much greater role than before. He is not only involved in the traditional role of "scorekeeper" but also as a strategic "partner" for shareholders and key stakeholders. Through the coordination and supervision of the main performance management processes, he tries to achieve company targets for increased value, by ensuring the ethics and compliance with principles ("wealth creator").
Within his extended role, the core business of the CFO is more strategic than ever. In this domain, SDG provides its ‘Best Practices and Experiences’ that are relevant to the design, setup and implementation of the “Financial Process Framework". This framework supports financial closing and planning processes, by providing the CFO with quick closing process to proactively manage business performance, processes of consolidation, to evaluate the economic, financial and property performance of the Group and processes for the Group’s "Financial Position" optimization, as well as models for the simulation of strategic alternatives related to investments within the Group and to the value measuring.
Financial Excellence is achieved through a combination of models, organization and technology which allows a company to optimize processes, reduce costs, manage business performance and reduce risks and the Financial Process Framework is the ideal approach to strive for Financial Excellence, by virtuously combining People, Process and Performance perspectives.
The transition from "Traditional Closing” to "Financial Process Framework" mode helps the CFO to use "Finance Oriented" metrics and information for the assessment of "Business Performance".
The adoption of the Financial Process Framework is an opportunity to move from a "finance oriented" process a "business supporting" process. This enables the CFO to govern the main processes in an integrated manner, increasing the efficiency of the closing process - both in terms of time reduction and in terms of resources cost saving - and the traceability and accuracy of data, ensuring the internal and regulatory compliance.