By: Ciopages Staff Writer
Updated on: Feb 25, 2023
What are the internal challenges which act as a clear and compelling set of Accounting and Finance Transformation Drivers? Here is an extensive list of such internal accounting and finance transformation drivers. Of course, not all the things apply to every company that is in the throes of turmoil in the accounting and finance function, but if more of them apply to your situation, the graver the need for a transformation of your accounting and finance department. To learn more about the why, what, how, when, who et al. of finance transformation, please consider CIOPages.com Finance Transformation Resources.
Internal Factors are necessitating a major rethinking and reimagination.
How did you rate yourself on these factors? If 20 or more of these factors are a fact of life in your finance and accounting organization, your hair is on fire. You needed an accounting and finance transformation yesterday! If 15-20 of these finance and accounting transformation drivers apply to you, it is evident you are a serious candidate for change. If 5-15 of the transformation reasons apply to your firm, then probably you can get away with general improvements and selective surgery, not a complete finance and accounting transformation. If only less than 8 of these drivers are applicable, perhaps you’ve already completed your transformation, and all that is needed is small fixes here and there.
Are there other internal accounting and finance transformation drivers necessitating a major program in your organization?
If you are looking for external drivers necessitating transformation, please check out our top ten list of external drivers for accounting and finance transformation. In particular, as per Accenture, digital is killing the current finance organization, and that is not something to mourn.
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