Supporting the recovery : the financial department, driving force of change
Rethinking its financial processes, switching its budgetary model to a Zero Based Budget (ZBB), reversing its governance principles, or refocusing on performance management thanks to a focus on cash management or to a tighter analytical sales control, levers differ from one financial department to another in order to support the recovery after COVID-19 crisis.
Our experts talk one after the other about an example of a lever to activate in order to initiate the recovery of the activity :
- Episode #1 : the impact of budget model change
- Episode #2 : Reversing the budget process
- Episode #3 : A tighter analytical sales management
- Episode #4 : Focus on cash management
To conclude, this crisis has been a real revealer for financial departments : there is a truly need for more flexibility and ability of questioning themselves. Questioning can take various forms, as we saw it with these videos. In all cases, the ability to question the actual control was the first key of success. This crisis was also an accelerator, all these companies realized they do not have the time to wait. Facing with the adversity, the ability of quickly initiate the change was the second key of success. For these companies, the last key of success was their tool, all of them were equipped or equipped themselves with a reference market performance tool. Excel not being the agile and adapted solution in this kind of situation.