You are not born a financial director; you become one at some point in your career. Previously chief accountant of the company chosen as a person of trust, controller or financial controller specially hired for this position, the financial director of SMEs must make his place in the company.
Archives for February 2018
The accounting activity is a production activity, as any activity must tackle the improvement of quality, while reducing costs and delays. The creation of a Shared Services Center (SSC) is an organizational response that is widely implemented in companies today.
The chief financial officer is most often chosen for his technical expertise. By accessing this function, however, he can no longer consider himself solely an expert, he becomes the hierarchical manager of a team, often acts as a transversal manager, becomes a full member of the management committee. A major challenge becomes for him to achieve a good balance between expertise and management.
Chief Financial Officers are unanimous in declaring that the conduct of change (also called transformation project management) has become for them an indispensable skill related to the management of a project. The human aspect is obviously decisive in driving change. Not applying a few key principles often condemns the project to be a total or partial failure.
The growth of companies, the internationalization, the specialization of functions, and the development of matrix organizations explain the development of transversal management. How are financial functions affected?