Accenture pinpoints differences between finance masters and average performers

by Editor 6/2/2008 4:29:00 PM

Accenture has released a new report that identifies the factors that set finance "masters" - the leading corporate finance organizations - apart from corporate organizations whose performance is average or low.

The report, titled "High Performance Finance Study 2008: The Changing Role of the Finance Organization in a Multi-Polar World," is the result of a survey of over 350 senior corporate finance executives in big companies across 20 different industry sectors, in 30 countries across five continents. 

Business leaders in the finance sector deliver value to corporate organizations with a sharp focus on strategy, aligning their organization, capability development and selection of departmental initiatives with overall corporate business objectives.

The "masters" also reported advanced capabilities in five areas: finance function management, enterprise performance management, finance and accounting operation, enterprise risk management and corporate finance. On average, they spend more time working out business strategies and less on operational details than the average or poor performers.  

“Finance masters recognize that they do not have to excel in everything, but they organize themselves and develop superior capabilities in areas that are of the greatest strategic importance to the company to drive value for their shareholders and the enterprise itself,” said Dan London, managing director of Accenture’s Finance & Performance Management practice.
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