204.Financial Transformation Live: Assessing Your Current Financial Systems
12/03/24 • 41 min
In this episode of Financial Transformation Live, Hannah Munro explores how to assess and optimise your current financial systems to support your organisation’s goals. As the final live session of the year, this episode is packed with actionable advice and frameworks to help finance leaders plan their next steps for system improvements.
Tune in to learn:
- The four key components of a financial technology stack: controls, compliance, reporting, and process efficiency.
- A comprehensive framework for assessing your financial systems, including:
- Understanding strategic direction and goals.
- Gathering feedback and insights from stakeholders.
- Performing process documentation and Excel audits.
- Running reporting assessments and SWOT analyses.
- Practical tips to improve month-end efficiency and reduce close times.
- 10 quick wins to optimise your financial systems, from automating bank feeds to improving credit control.
- How to decide whether to enhance your current system or invest in a new platform using a traffic light evaluation method.
- Insights into leveraging your team’s expertise and industry benchmarks for continuous improvement.
Links mentioned:
- Building a Future-Proofed Reporting Architecture
Please reach out to Hannah via LinkedIn if you'd like to be notified once our Sage Systems Feedback document is live! - Getting Started with Mapping Out Your Finance Processes
- Breaking the Excel Addiction - Are you Over-Reliant on Spreadsheets?
- Reduce Your Month-End Close Time
- Helpful Guides for Sage 50, Sage 200, and Sage Intacct
- Sage Intacct On-Demand Demo
- Sage 200 Standard Coffee Break Demo
- Sage 200 Interactive Demo
- Sage 50 Coffee Break Demo
- Download your System Audit Template
- Nov: Financial Transformation Live | Assessing Your Current Financial Systems
- Revisit previous Financial Transformation Live sessions
- CFO 4.0 Monthly Briefing
- Financial Transformation Live Feedback survey
- Explore other CFO 4.0 Podcast episodes here.
- Subscribe to our Podcast!
In this episode of Financial Transformation Live, Hannah Munro explores how to assess and optimise your current financial systems to support your organisation’s goals. As the final live session of the year, this episode is packed with actionable advice and frameworks to help finance leaders plan their next steps for system improvements.
Tune in to learn:
- The four key components of a financial technology stack: controls, compliance, reporting, and process efficiency.
- A comprehensive framework for assessing your financial systems, including:
- Understanding strategic direction and goals.
- Gathering feedback and insights from stakeholders.
- Performing process documentation and Excel audits.
- Running reporting assessments and SWOT analyses.
- Practical tips to improve month-end efficiency and reduce close times.
- 10 quick wins to optimise your financial systems, from automating bank feeds to improving credit control.
- How to decide whether to enhance your current system or invest in a new platform using a traffic light evaluation method.
- Insights into leveraging your team’s expertise and industry benchmarks for continuous improvement.
Links mentioned:
- Building a Future-Proofed Reporting Architecture
Please reach out to Hannah via LinkedIn if you'd like to be notified once our Sage Systems Feedback document is live! - Getting Started with Mapping Out Your Finance Processes
- Breaking the Excel Addiction - Are you Over-Reliant on Spreadsheets?
- Reduce Your Month-End Close Time
- Helpful Guides for Sage 50, Sage 200, and Sage Intacct
- Sage Intacct On-Demand Demo
- Sage 200 Standard Coffee Break Demo
- Sage 200 Interactive Demo
- Sage 50 Coffee Break Demo
- Download your System Audit Template
- Nov: Financial Transformation Live | Assessing Your Current Financial Systems
- Revisit previous Financial Transformation Live sessions
- CFO 4.0 Monthly Briefing
- Financial Transformation Live Feedback survey
- Explore other CFO 4.0 Podcast episodes here.
- Subscribe to our Podcast!
Previous Episode
203. Mastering M&A: Doing Acquisitions Right with Jeremy Earnshaw
In this episode of CFO 4.0, Hannah Munro is joined by Jeremy Earnshaw, Founding Director of Clarendon in the first instalment of a series of discussions on the complexities and challenges of mergers and acquisitions (M&A). Jeremy draws on his wealth of experience in executing over 25 transactions to offer practical advice for CFOs embarking on their M&A journey.
Key topics covered include:
- The importance of aligning M&A activity with organisational strategy
- Understanding the critical role of the C-suite in the M&A process
- How to assess whether your organisation is ready for an acquisition
- Cultural integration and its impact on post-acquisition success
- The role of due diligence and disclosures in mitigating potential issues
- How to balance day-to-day responsibilities with the demands of M&A
Links mentioned:
- Jeremy's Linkedin
- Learn more about Clarendon Executive Coaching and Mentoring
- Explore other CFO 4.0 Podcast episodes here.
- Subscribe to our Podcast!
Next Episode
205. Shaping Finance in 2030: Insights with Clive Webb
Join Hannah Munro in this thought-provoking episode of CFO 4.0 as she sits down with Clive Webb, Head of Business Management at ACCA, to explore the latest insights from ACCA's ground breaking research, Finance Evolution. Together, they discuss the challenges and opportunities shaping the finance function of tomorrow.
Key discussion points include:
- How finance teams can position themselves as custodians of reliable data.
- Emerging roles like Sustainability Controllers and Data Governance Leads
- The rise of AI, machine learning, and e-invoicing, and their impact on forecasting and compliance.
- The role of finance in bridging the gap with accurate and integrated data.
- The skills needed to build predictive models and adapt to rapid changes in the business landscape.
- Bridging the gap between traditional roles and the demands of the future.
Links mentioned:
- Clive's Linkedin
- Learn more about the ACCA
- Finance evolution report: Thriving in the next decade
- Explore other CFO 4.0 Podcast episodes here.
- Subscribe to our Podcast!
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