CFO Strategy & Consulting Services | Accenture (2024)

The architects of change

CFOs are in a unique position to access insights across the business and accelerate the transformations that align with the highest priorities. Risk leaders are the critical partner to ensure resilience and safety through these rapid changes. Together, they continue running core business functions while leading the business forward.

Adopt a predictive view

See beyond your company’s horizon with integrated data platforms and advanced scenario modeling to answer ‘what if’ questions with confidence.

Manage risk and drive resilience

Keep your business strategy moving forward at pace by gaining visibility into forces and threats that pose risks to your organization so you can look around corners and minimize vulnerabilities.

Finance Operations

Win with a data-driven operating model

This journey begins with building a digital core that draws on data, technology, and talent. Determining the right mix of people and applications is key to implementing a data-driven operating model that delivers.

45-50%

reduction in operating costs can be achieved by implementing a data-driven operating model

Make finance more predictive and proactive

A data-driven operating model can reduce time forming insights by up to 30% and deliver real-time business performance analysis.

Improve liquidity management

Additionally, it can increase cash collection by up to 30%, improve cash and capital forecasting by 85-95% and raise cash in bank by up to 95%.

Increase operational efficiency

See a 50-60% increase in operational efficiency, a 45-50% reduction in operating costs and 30-40% savings from an improved reporting system.

Mitigate risk and improve compliance

Touchless processing can help drive a 50-60% increase in efficiency, while an improved reporting system can help deliver up to 40% in savings.

Create an agile operating model

Increase cross-worldwide business unit collaboration, while simplifying processes and harmonizing service.

PLATFORM TRANSFORMATION

Think “out-of-the-box”

Leveraging “out-of-the-box" cloud capabilities can increase automation and integrate data and ERP on the cloud for powerful analytics.

72%

of CFOs have the final say on the technology direction of their organization

Provide a single “source of truth”

Transforming your finance platform can result in a single repository of clean and current data that's fully integrated.This data allows finance and other functions across your organization to unlock and share powerful and actionable insights.

Simplify the technology landscape

The simpler the landscape and greater the use of “out-of-the-box" capabilities, the greater the opportunity to grow your business at a lower cost. For example, reducing the number of applications frees up resources to focus on innovation activities.

Build a foundation that enables evolution

A solid ERP foundation can enable future initiatives, such as advanced reporting and analytics, intelligent automation and an insight-driven culture.

Activate new ways of working

Use the power of humans and data science to transform decision-making and ways of working across the organization.

ENTERPRISE PERFORMANCE MANAGEMENT (EPM)

Cloud-enabled EPM paves the path to advanced analytics

Today’s decision support capabilities require new technology and collaboration tools. An end-to-end modeling capability that emphasizes scenario planning and aligns to company metrics is key.

79%

of CFOs agree organizations are basing their most critical systems and strategies on data, yet many haven’t invested in capabilities to build quality data

Improve forecast accuracy

Implementing a modern, integrated EPM system will allow your team to have real time visibility of financial performance and improve forecast accuracy.

Reduce cycle time

Integrated and agile planning capabilities reduce cycle time and enable scenario planning to stress test specific situations and challenges.

Risk & Compliance

Harness the power of data, AI, and technology

Modernize your risk function, driving superior data insights and optimizing controls to meet regulatory, business and operational demands.

93%

of risk leaders agree or strongly agree that new technologies like AI make compliance easier, more effective and efficient

Strengthen your risk management

Through automation, streamlining of data and implementation of exception-based risk management, you can reduce the cost of core risk management processes by up to 50%.

Efficient AML/KYC investigation

Using automation and analytics, you can reduce anti-money laundering (AML) alerts by 25-40% and know your customer (KYC) reviews by 15-35%.

Effective regulatory compliance and remediation

Achieve a 95-98% quality rating across deliveries by implementing a quality control framework. Through AI-driven remediation, deliver 50-70% in cost savings.

Optimize risk-adjusted business performance

This can lead to a 20% improvement in revenue and risk adjustment performance management, unlocking new capital efficiency use cases. See a fast and efficient flow of risk insight to business divisions, along with an enhanced ability to identify and mitigate control issues and risk appetite breaches.

Safeguard business growth and expansion

Begin with establishing controls for financial product innovation (e.g., payments) and regulatory advisory for market expansion. In addition, proactively identify risks and opportunities in the interconnected business model.

SUSTAINABILITY MEASUREMENT, ANALYTICS & PERFORMANCE

What you measure shapes what you do

The time has come to devote the same resources and attention given to financials to ESG measurement. It all starts with blending financial and nonfinancial goals via a data-led performance management capability.

26%

of finance leaders agreed they have clear, reliable data to underpin their ESG KPIs

Risk mitigation and cost avoidance

Preventing fines and penalties (e.g., climate taxes) and avoiding the loss of business due to the impact of your ESG metrics are just two of the benefits of implementing a data-driven approach to sustainability measurement, analytics and performance reporting.

Compliance and control

Meet consistent compliance with regulatory standards, and draw on data which is more reliable for reporting and decision-making.

Optimization of financing

Improved sustainability ratings can reduce the cost of debt. What’s more, you can gain access to beneficial lending rates, subsidies and tax breaks. And lastly, improve your chances of being included in a large ESG fund.

Cost reduction and operational efficiency

When you reduce water, energy and fuel usage—along with raw materials and waste—you can see increased efficiency and less maintenance and transportation costs.

Revenue growth and pricing power

Eco-friendly products can improve customer loyalty. They can also offer entry to new customer segments, new geographical markets and create the opportunity to leverage premium pricing models for innovative products.

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