| The role of the Finance Function is changing. In a fast moving economic
environment where change is the only constant, reporting of historical
results is increasingly marginalized in the output of the value added
Finance Function.
There are only two types of output from a Finance Function.
- Backwards looking, historical reporting
- Forward looking, action focused
You will immediately recognise which type of Finance Function you have.
Your financial reporting should be telling you where the business is
going, creating actions and identifying what is happening within your
business, thereby empowering your business to achieve its goals, financial
or otherwise.
The rapidity of change in the macro economic environment forces a business
to ask questions of itself. Do we actually need a strategy per se? Should
our only strategy be an ability to manage change? These are new questions
that lead to a new way of interpreting the strategic process.
Structural change within the accounting profession and the advance
in bespoke software products have given a greater range of opportunities
to businesses in the degree of flexibility with which they can manage
their financial resources.
We are at the forefront of developing the new approach to financial
and strategic planning, remodelling the activities of Finance Functions
enabling responsive and value added activity through controlled change
management processes.
Financial Reporting
The monthly financial report is a function of the individuals, direction
and attitude of the financial function. We help work with financial
teams, changing attitudes and approach, through a series of change processes
that ensure that the finance function becomes at the forefront of identifying
the activities that will cause your business to succeed.
Strategic Planning
Working with change is a challenge. AMG can take you through a series
of strategic planning process that will deliver a unique strategic vision
that is focused on the ability to deal with change. Our approach is
radical and it focuses on the importance of change as a generic factor
in the process.
Business Processes
What type of business are you in. High volume low value transactions?
Low volume high value transactions? Do your financial systems provide
processes appropriate to the nature of your business. Do you distinguish
between the roles of processing and interpreting within your finance
function? Should your financial function be centralised or decentralised?
Many large corporations have moved to outsource their financial function
altogether. This can offer substantial benefits if handled appropriately,
it can also add risk. AMG can review the relevance of your transactions
processes and by looking at business need, can run through a programme
of tailored actions to deliver to you financial processes that are relevant
and cost effective.
Risk Management
Understanding business is about understanding risk. Surprisingly, it
is still rare to find specific risk management processes as part of
the Finance Function, indeed as part of the management of large corporations.
The corporate disasters at Enron and Worldcom have put the business
world on notice that this is an essential aspect of effective corporate
management. We can create a risk management function within your organisation,
identifying the right individuals, a management reporting structure
and processes that will enable your organisation to deal effectively
with risk in your business
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