Your finance team should be at the heart of your business strategy, driving decisions using insights built from data and a cross-business perspective. MGV can help deliver where it matters. A healthy heart means a healthy business
We provide benchmarking tools and assistance to compare against other peer groups in terms of complexity and scalability. With a little planning even a large multinational can gather and validate all the necessary data in a few days. Once you have that data in hand it’s possible to identify the precise areas of concern that can be inhibiting performance.
How you set up your Finance function, in particular your structure, your use of shared services/outsourcing, the skills of your retained function and the technology and processes your teams use, is integral to the success of your business. It dictates how your finance function delivers value, and if it’s not fit for purpose in an age of rapidly evolving technology and shifting consumer behaviour then opportunities for growth will be missed.
There are a number of reasons that your organisation may not be financially sound. We aim to work with you:
- Redefining your operating model, capabilities and the performance of your team can enhance your capabilities across the business The focus can then shift to using data and analytics to provide insights that inform strategic thinking, driving growth while reducing costs.
- The business strategy is not communicated with the right metrics. This leads to an ineffective execution and a warped picture of performance.
- The planning process is not delivering against expectations. With bad data and insights planning can rarely perform as required.
- Insight into the performance of the business is lacking. With poor data, or an inability to accurately analyse it, it can be difficult to assess how your business is performing and make changes where needed.
- Analytic capabilities to predict future outcomes are missing. Growth requires insight on future outcomes, and if your data is bad then predictions will be inaccurate.
However if high quality data and the ability to interpret it accurately is at the core of your finance strategy you’ll be able to inform and strengthen your business decisions. After all, the role of finance has many moving parts including providing insight, maintaining financial control and running an effective function.
The expectations that organisations have of their finance functions have undergone a significant shift in recent years. While the traditional finance role, acting as the “scorekeeper” and maintaining an accurate system of record continues, the introduction of advanced technologies means there is increased potential in the capability of finance functions. As such, finance departments are expected to do more than they used to and faster. This often includes providing deep financial insights and strategic thinking, partnering with the business to drive performance, as well as delivering more sophisticated reporting to harness the power of data.