Business Commons^™

Transforming Finance For The Future, Siu Loon Hoe

Research Collection School Of Computing and Information Systems

Significant changes in external market conditions have resulted in operations placing greater demands on the finance function. Traditional finance departments are increasingly expected to deliver more value and be more proactive in supporting the organization's overall business strategies. Unfortunately, many finance departments are not yet ready to meet such challenges. This article proposes a transformation process to reorganize present day finance functions to become a finance of the future. The proposed process applies tools such as best practices, outsourcing and technology to achieve a desired future outcome.