Our research shows that more than 70% of Finance Directors are trying to transform their Finance organisations to add more business value.
Yet 75% are finding it really difficult to deliver benefits from their efforts. What is it that they’re struggling with?
The barriers depend on many factors, and how far along you are on your business partnering journey.
For your organisation, a crucial hurdle is the need for a shift in mind-sets. Shifting from inward-facing Finance teams accustomed to only providing financial information, to business-facing Finance teams also influencing business decisions.
Some of your Finance team will have to let go of the traditional accounting props and Excel spread sheets, and to have the self-confidence to challenge and influence business colleagues.
For those beginning their business partnering journey, here are the most common complaints and concerns:
If these sound familiar, don’t worry, you’re not alone!
Arcus has helped many, many organisations to overcome these obstacles, using our practical techniques and approaches for business partnering.
For those companies that began the journey a little while ago, and are looking to go from ‘Good to Great’, the challenges are quite different.
Success is much more dependent on making business partnering scalable and going beyond having just a handful of experienced partners who have ‘natural style’, experience and self-confidence.
These are the most common complaints and concerns for this group of companies:
So Ask Yourself:
We often conduct assessments for Finance Directors to identify the biggest barriers to successful business partnering in their organisation and what to do to overcome these barriers. If you’d like a conversation about your barriers and challenges please get in touch.
Managing Director, Arcus Consulting
t: +44 (0) 207 608 5096