Finance leaders of High Performance Organizations (HPOs) are placing a greater emphasis on growth activities and building value for the enterprise. Their wild world of finance explores beyond the norm and into diverse glories and challenges of business transformations, with intentions extending beyond shared values, ambitious goals and agile behavior.
What are we saying? We're saying finance is uber-important if you crave a ranking among the top HPOs.
What it takes to be a High Performance Organization
Heeding the call and whipping up an HPO is work, but being best-in-class always is. It's the little things, like working with outdated information that creates obstacles - obstacles that can historically weigh down backstage efforts in reaching HPO-status.
A typical strategy supported by most business organizations starts with setting goals. They hire competent, intelligent people and provide all necessary resources for the success of the team. So far, so good. But the speed of change in business today is so rapid that introducing talent isn't enough. What you need is a culture that is proactive and matched towards keeping up with the constant change. You need a company in continuous planning and response mode. And you need software that can give you an up-to-the-minute view on all aspects of the enterprise.
Traits of an HPO
The Accenture 2014 High Performance Finance Study recognizes the following attributes as leading characteristics of High Performing Organizations:
- Are more likely to report high levels of satisfaction with their finance function and shared values
- Tend to have CFOs who have seen their strategic influence grow in recent years with ambitious goals
- Are more likely to have greater agility and control through end-to-end process ownership and delivery of mid- and back-office services
- Have finance leaders that are more engaged in assessing technology investments
When you think about it, it’s what every company hopes to achieve; it is clichéd conversation. So why do most companies never reach this potential? It's simple. The root of hesitation in transforming an everyday run-of-the-mill company into a High Performing Organization rests on two concerns: leadership and software.
A new breed of hero
A business performance management system that employs reporting, analytics and planning functionality, and is fully integrated with your existing ERP software, is what we call a new breed of hero. It's a solution that offers companies the ability to make accelerated comparisons, to forecast based on accurate data, improve company-wide productivity and increase communication and trust among departments and staff.
Take your company beyond the ordinary. Employ the right leadership, adopt the right software and create an atmosphere of excellence. That's how High Performance Organizations are created.
If you're ready to make it happen, download our ebook today- it's just a click away.
And for a more in-depth look at the role finance plays in driving high performance in a modern world, register for our Forrester webinar here.