BusinessCompany NewsTop businesses unhappy with finance function output

Top businesses unhappy with finance function output

Higher paid finance functions with more analytical focus outperform the rest, says PwC

Most of the UK’s top businesses are unhappy with the level of management
information they receive from the finance function.

A survey by PwC of more than 100 of the top 200 FTSE companies found that 63%
regard the finance function as playing a lead role in the strategic planning
process, yet 80% said they were dissatisfied by the quality and meaningfulness
of the information they receive from finance.

As operating models and competitive challenges continue to evolve, the
findings from the study clearly show that both CEOs and finance professionals
have some significant hurdles to overcome before the finance function truly
becomes the effective strategic partner the business requires,” said Nick
Jarman, partner in the finance effectiveness consulting practice.

More than 65% of the most effective finance functions had established shared
service centres or had consolidated transaction processing.

Finance staff were higher paid and more resource was invested in analytical
activities in the best-performing companies.

Further reading:

There’s
no stock answers when it comes to inventory management

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