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Financial Affairs Transformation Roadmap

As a function of Financial Affairs, guide company management through all important decisions with strategic analyses and a holistic point of view.

A Financial Affairs function that generates more added value

Today, the strategic roles and responsibilities of CFOs are changing along with changing trade conditions. Financial Affairs, once considered a function that controls costs and expenses, focuses on compliance with legislation and spends little time adding value, is now expected to provide necessary support during decision making processes as a partner and guide in the transformation process which will be necessitated by new work models.

We help restructure Financial Affairs unit organisation, processes, and technology structures, and help them implement the necessary transformations/changes, transforming the Financial Affairs function and the CFO and making them the most important decision support providers for upper management, placing more focus on tasks which generate added value, and minimising the time spent on operational tasks.

Important Questions:
  • Does the Financial Affairs function have a guiding role in the company's success in reaching its strategic targets?
  • How frequently is the Financial Affairs function consulted when decisions are being made concerning the main operations of the company?
  • Does Financial Affairs receive the necessary information concerning how the main operations of the company run?
  • Do you have the organisation, process and system infrastructure to ensure “strategic cooperation”?

PwC financial transformation approach - the analysis point of view

Today, the importance of the CFO position, as well as expectations for Financial Affairs units is growing. CFOs are expected to both meet the ever-growing legal requirements and administrative needs, and to increase the productivity and lower the costs of Financial Affairs units. A Financial Affairs unit that aims at high performance should regulate decision support, productivity, compliance with legislation and control in a balanced fashion.
Decision Support

This includes all Financial Affairs activities that will help company management make better decisions. This field includes all the processes (strategic planning, budgeting, management reporting and analysis) of Corporate Performance Management, so it helps Financial Affairs units assume an active role in company management.

Efficiency

Efficiency is ensured by improving processes and the effective utilisation of technology. Shared service centres or outsourcing is also possible, to simplify and standardise processes. Costs can be minimised in these ways.

Compliance and Control

This is a subject that ensures CFO agendas are full. In the future, Financial Affairs must be cost effective, and optimize risk management, compliance with legislation and control. 

Mali İşler Dönüşüm Yol Haritası

How do you ensure balance between the decision support, profitability, compliance and control perspectives?

Contact us

Serkan Tarmur

Serkan Tarmur

Advisory Services Leader, PwC Turkey

Tel: +90 212 376 5304

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