As functional maturity develops, departments and teams are working together more effectively and regularly engaging in higher-quality cross-functional conversations. The creation of common data standards and frameworks has enabled a systemwide view in which corporate service functions are able to discuss and contribute to areas such as policy and national data strategy with other departments. Common data standards and terminology between finance, HR and commercial teams are enabling faster, more joined-up decision-making.
“We’re far more strategically aligned. The question now is moving from the thinking and not only remaining aligned but really hitting the joined-up delivery.”
Tim Wheelhouse, Head of Finance Technology
The UK Civil Service ranks number one in the 2019 InCISE (International Civil Service Effectiveness) index and third in the world for fiscal and financial management.
• Have clarity of vision — what is finance transformation going to do and achieve?
• Ensure that the vision is bought into at a senior level and embedded and engaged with at all levels.
• Don’t do finance in isolation.
• Don’t reinvent the wheel. Always get the basics right. Someone, somewhere has done this before. Talk to them.
Read the full report. Finance transformation: the human perspective
insights.cgma.org/story/finance-transformation/
