Narrow functional boundaries and rigid structures hinder digital solutions in finance.
As well as numerous new possibilities, the challenges of digitization also create additional complexity: e.g. due to lack of use cases, lack of know-how or lack of interdisciplinary experience. They also increase uncertainty in the CFO area. Hardly any problem in finance can still be solved within the framework of the classic separation of functions and rigid organizational and responsibility structures.
An agile CFO organization separates project work from standard processes
In the future, employees in the finance department will have to work together flexibly and agilely across departments: only in this way can they solve problems efficiently and achieve high-quality results. Supportive corporate structures make agile collaboration possible - the CFO organization must be redefined.
An agile organizational design breaks open functional silos and strengthens personal responsibility. It creates an environment in which employees can react flexibly to new challenges. The CFO organization will be divided into a 'core unit' for standard transactional processes and an 'agile swarm' for handling one-off, complex projects.
Standard activities (e.g. accounting, consolidation, planning, reporting) are bundled in end-to-end processes in the core work. The quality and efficiency of processes are ensured by continuous improvement and centralization of transactional activities. Use of the digitization potentials of robotics and artificial intelligence provide additional support.
Members of agile swarms work on interdisciplinary, individual project-related solutions, equipped with a high level of decision-making authority. They use methods such as Design Thinking, Scrum etc. The swarm largely controls itself technically; management directs the swarm via target and governance specifications, budgets and steering committees.
Our path to an agile CFO organization
Intermediate stages are possible on the way to an agile CFO organization. Agile project management and agile methods are introduced first. Finally, the fully agilely organized company is realized through multiple agile project swarms in separate company units.
The agile CFO organization changes the work structures for your employees; a holistic change management approach from Horváth & Partners supports the upcoming change to an agile way of thinking.
We work with you to determine how agile your CFO organization is today, which business units and teams are suitable for the new approach and which steps are necessary to build an agile financial organization in your company.