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Building the High Performance Finance Function (Hardcover)
Loot Price: R6,565
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Building the High Performance Finance Function (Hardcover)
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As the world is entering possibly the deepest recession since the
1980s, many organizations realize they should have prepared better
for tough times. Thus, there is increased interest in the concept
of the high-performance organization (HPO). The HPO is defined as
"an organization that achieves financial and non-financial results
that are exceedingly better than those of its peer group over a
period of five years or more, by focusing in a disciplined way on
that what really matters to the organization." Core to the HPO idea
is to create such a strong internal organization that it can easily
and flexibly deal with both threats and opportunities presented by
the outside world. This can only be effectively achieved when all
parts of the organization contribute to creating and sustaining the
HPO. This means that all departments, functions, business units,
and divisions must transform themselves into high-performance
entities. Among the most important support functions of every
organization is the finance function. The term "finance function"
refers to all financial processes in an organization. The
professionals responsible for financial processes usually work in
the finance department but can also operate in other parts of the
organization, for instance as business unit controllers. The
finance function can be regarded as the spider in the
organizational web, as it has relations with every part of the
organization and is also represented on the executive board.
Therefore, it is of utmost importance that this function takes the
lead by quickly transforming itself into a high-performance finance
function (HPFF), serving as a role model for other functions in the
organization. An HPFF is defined as "a function that supports the
organization to become and remain an HPO by ensuring that its
people, processes, and systems are of the highest quality." The key
question however is how an HPFF can be created. This book not only
describes the development of the HPFF framework (which is based on
a large literature review of current trends in finance functions
and a survey among financial professionals) but also explores the
experiences, lessons learned and results achieved by finance
functions that have transformed themselves into "HPFFs" or high
performance finance functions using the HPFF framework. The book's
experiences will be abundantly illustrated by real-life case
studies from finance functions from multinational and other profit
companies, and governmental organizations. With this book finance
professionals have a roadmap to convince the organization of the
importance of becoming an HPFF. The main audience for this book is
the financial professional who wants to think about and build -
together with fellow financial professionals - a high performance
financial function. So a financial professional who dares to dream
of a better financial function, and who wants to contribute to the
further development of that function. A financial person who feels
that ""control"" and ""compliance"" alone are not sufficient to
excel - that more must be done for that.
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