The smart finance function in today’s complex world

In April 2014, ACCA initiated a global programme of research and insight activities to understand the leading practices finance functions are adopting in their goal to becoming smarter. How are best-in-class finance functions now delivering the insights that make a real difference to corporate performance, while continuing to drive effective stewardship and control of the enterprise. This paper shares insights into how ACCA’s campaign will operate.

ACCA has identified a number of critical areas in which progressive finance functions must look to excel. Over 18 months, the campaign will seek to understand and showcase the good practices, challenges, issues and opportunities corporate finance functions face in working smarter in four key areas:

• working smarter through effective finance leadership – this will involve a closer examination of the influences that shape the particular leadership style and capabilities CFOs need, an outline of how different factors can shape the optimal profile of a finance leader for a given business, and other issues facing CFOs
• working smarter through leveraging technology – this will review and focus on the role of technology in enabling the finance function to become smarter and to meet the rising expectations from the wider enterprise on the finance function 
• becoming smarter through better human capital practices – an examination of the leading talent development practices finance organisations are adopting in the face of a challenging business landscape
• becoming smarter through effective transformation of the finance organisation – the ongoing shift to outsourcing and shared services and a refocus on the retained finance organisation to drive efficiency and value.