Finance Transformation Definition:

CIOPages.com defines Finance Transformation as a foundational change encompassing the re-envisioning of the finance operating model, restructuring the accounting and finance organizations, re-engineering of the core accounting and finance processes, additions and enhancements of finance capabilities, and very often re-platforming of the finance and accounting systems.

Finance Capabilities Impacted by the Transformation:

Finance transformation impacts one or more of the following finance capabilities:

  • General Ledger
  • Finance Close and Reporting
  • Cash Management
  • Treasury
  • Budgeting and Capital Allocation
  • Working Capital Management
  • Decision Support
  • Audit
  • Compliance
  • Risk Management

 

The scope of the Finance Transformation:

Finance transformation encompasses several of the following areas, typically accomplished in concert, and detailed in a Finance Transformation Roadmap, to leapfrog the finance function to the next level.

Finance Transformation Scope

  • Finance Strategy
  • Finance Operating Model
  • Finance Capabilities
  • Finance Structure and People
  • Accounting and Finance Processes
  • Finance Operating Model
  • Finance and Accounting Technology
  • Finance and Accounting Data
  • Governance and Controls

 

Finance Transformation Process:

An outline of the finance transformation process:

Finance Transformation Process

Finance Transformation Process

Alternative Names:

Accounting and Finance Transformation, Financial Transformation, Transforming Finance

Additional Information and Links for Finance Transformation:

Finance Capabilities - What are Finance Capabilities? Finance capabilities are an abstraction of what accounting and finance function does and can do.  We ...Read More
The Top Ten Accounting and Finance Transformation Drivers - Let’s look at some key external Accounting and Finance Transformation Drivers. Today, the function of finance is in the throes ...Read More
Accounting and Finance Transformation Roadmap - What is an Accounting and Finance Transformation Roadmap? An Accounting and Finance Transformation Roadmap is a compass to get your ...Read More
Finance SAAS Software Platforms - Finance SAAS Software Platforms are the new wave of ERP systems that companies the world over are embracing to power ...Read More
Finance Transformation Approach - Accounting and Finance Transformation Approach: As the economic climate continues to evolve and expand and become dynamic, so does the ...Read More
Finance Transformation Rationale - Accounting and Finance Transformation Rationale What factors and facts are the basis for the finance transformation rationale? What will necessitate ...Read More

Finance Transformation Tools and Templates:

 

  • Finance Capabilities Model

    Finance and Accounting Business Capability Model

    Finance and Accounting Business Capability Model: The CIOPages.com Finance and Accounting business capability model is a hierarchically decomposed list of Record to Report capabilities which captures the end-to-end entities that span the finance and accounting function. The accounting and finance bu...
    $699.00–$1,999.00
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  • Sale! Finance Transformation Change Management Plan

    Finance Transformation Change Management Plan

    CIOPages.com Accounting and Finance Transformation Change Management Plan is a customizable deliverable which companies can use to document the change management strategy and plans for an enterprise finance transformation program. The Finance Transformation Change Management Plan includes an overall...
    $149.00–$499.00 $99.00–$299.00
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  • 3

    Finance Transformation Project Checklist

    Accounting and Finance Transformation Project Checklist is a handy list of critical items to evaluate the successful completion of an implementation. Any major transformation program is fraught with several challenges, and a Finance and Accounting Systems implementation is no exception. While it ta...
    $49.00–$149.00
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  • 5

    Finance Transformation Software Implementation Project Plan

    Finance Transformation Software Implementation Project Plan is a sample list of customizable project planning items. The Accounting and Finance Transformation Software Implementation Project Plan will help any firm embarking on an enterprise-wide finance and accounting transformation and can be mod...
    $99.00–$299.00
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  • 1

    Finance Transformation Software Top Features

    Accounting and Finance Transformation Software Top Features is a handy list of features and functions which are important in a finance and accounting software. Finance and Accounting software has evolved from just a recorder of history to mission-critical, real-time decision support system. As your ...
    $25.00–$75.00
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  • Finance Value Streams

    Finance Value Streams

    CIOPages.com Finance Value Streams (also known as Record to Report Value Streams) deliverable captures the end-to-end activity flows in the finance and accounting areas. The record to report value streams offers a structural basis to map and define/redefine a stakeholder experience and technology en...
    $299.00–$999.00
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