So in my Part 1 of my article, we have discussed the reasons and what if we do not transform our role. And even before any changes can be made, we need to understand what can be the finance’s key critical success factors. Sometimes, we might discover that before finance can offer strategic financial advice, one of the key critical success factor might just be the ability to produce very timely and accurate routine management reports and forecasts.
 
Besides, the systems, processes/infrastructure, we should critically turn to one of the most important human asset namely the finance staff.

It is critical to have the proper training for the finance team.

The suggested “ladder” to nurture or to grow the finance team can be evolved as follows :
·   Analytical Foundation -risk management , transaction processing  & problem Solving

·   Systems Thinking Awareness  - business process analysis, technical skills, customer focus, technology Awareness

·   Organization Performance Mindset - relationship building, team building, strong communication skills, change management

·   Strategic Partnering Focus- broad business skills, exemplary leadership behaviors,
facilitation & negotiation skills

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• The Changing Role Of Finance Function: Strategies To Transform ( Part 3)