By: Ciopages Staff Writer
Updated on: Feb 25, 2023
Finance Business Requirements is a compilation of a list of accounting and finance needs to enable strategy, structure, process and technology transformation of finance and accounting functions. As expectations from accounting and finance functions grow exponentially, companies of various sizes and in diverse sectors are embarking on a finance transformation that fundamentally alters the operating model, re-engineers the processes, and re-platforms the accounting and finance systems.
The scope of the Finance Business Requirements:
The finance value streams such as Record to Report, Procure to Pay, and Data to Decision are some of the foundations of modern accounting and finance functions. Companies may choose to transform one or more of these value streams and the associated finance business capabilities. Depending on the scope of these value streams and the capabilities involved, the depth and breadth of the finance business requirements list will vary.
Technology enablement needs can range from migration to the cloud, conforming to architecture standards, replacing accounting and finance platforms, integrating disparate applications, and at times defect fixes (major or minor) to existing systems.
Types of Finance Business Change Needs:
There are several business requirements gathering methods to document the technology change needs.
Additionally, please review CIOPages.com finance business requirements for a finance systems transformation.
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