A recent survey of Chief Financial Officers (CFOs) by The Hackett Group® found that finance organizations responded to the economic slowdown with near-term focused tactics such as cash preservation, discretionary spending freezes, hiring freezes and staff cuts, renegotiation of supplier agreements, and postponement of capital expenditure projects. However, because resource-strapped finance organizations continued to face high demand for their services within the enterprise, issues of finance strategy ranked high on CFOs’ minds. Finance strategy issues of particular concern for CFOs include:
- Improving the efficiency of finance operations.
- Aligning finance strategy with broader enterprise strategy and increasing the finance organization’s value to the business.
- Implementing and managing globalized service delivery.
- Improving the performance and utilization of shared service organizations.
- Leveraging talent management initiatives to drive organizational performance.
The Hackett Group: your partner for finance strategy development and execution
As a leading global strategy and operations consulting firm with special expertise in business best practices and process improvement, The Hackett Group is an ideal partner for finance executives looking to develop and execute a finance strategy that will elevate the performance and business value of their organization. The Hackett Group offers benchmarking services, business advisory programs, and process transformation consulting services across all dimensions of finance strategy, including:
- Organizational efficiency and effectiveness. In its work with major companies around the globe, The Hackett Group has found that top efficiency performers operate their finance functions at significantly less cost than their peers. In fact, The Hackett Group estimates that the typical Global 1000 company could save up to $145 million in annual finance operation costs by applying the best practices of top performers. We can help you implement performance-driving best practices throughout your finance organization.
- Globalization and process sourcing. The Hackett Group projects that the portion of finance work moving offshore will continue to grow at a rapid pace. With offices in the Americas, Europe, and Asia, and clients in more than 60 countries, The Hackett Group delivers deep experience and expertise in all aspects of off-shoring, outsourcing and global business services.
- Working capital management. The Hackett Group has helped clients free up billions of dollars in cash, improving their ability to fund new products and markets, pay down debt, and pursue strategic initiatives.
We also offer expertise and hands-on experience in other facets of finance strategy including enterprise performance management (EPM), regulatory compliance, talent management and more.
To learn more about how The Hackett Group can help you develop and execute a world-class finance strategy, as well as our solutions for other business challenges such as supply chain strategy, IT outsourcing and more, contact us.