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What skills are required from a finance transformation team?

  • Publish Date: Posted 10 months ago
  • Author: Ryan Burrow
What skills are required from a finance transformation team?

At each stage of your finance transformation programme, will you have the right people skills to support a smooth delivery?

Stage 1: Assessment
  • Strategic Thinking: Assessing the current state of finance operations and envisioning the future state aligned with the organisation's goals.

  • Strong Analytical Skills: Analysing complex financial data and identifying pain points and inefficiencies. 

  • Stakeholder Engagement: Communicating and engaging with stakeholders, understanding their needs, and building consensus around the vision.

Stage 2: Planning
  • Visionary and Goal-Oriented: Defining a clear vision and setting goals for the finance transformation initiative, then aligning them with the organisation's strategic objectives.

  • Project Management Expertise: Effective planning, resource allocation, and timeline management.

  • Collaboration and Influence: Collaborating with various stakeholders and influencing decision-making to gain buy-in and support for the transformation roadmap.

Stage 3: Process optimisation
  • Process Improvement Expertise: In-depth knowledge of finance processes and best practices, to identify opportunities for optimisation and efficiency gains.

  • Change Management Skills: Implementing process changes requires the ability to navigate organisational resistance, communicate effectively, and drive a culture of continuous improvement.

  • Results-Driven work: Focusing on achieving tangible results, such as cost savings, improved productivity, and enhanced controls.

Stage 4: Data and analytics transformation
  • Data and Technology Savvy: A strong understanding of data management principles, emerging technologies, and analytics capabilities is essential to drive the data and analytics transformation.

  • Strategic Thinking: Identifying opportunities to leverage data and analytics to drive strategic decision-making and create value for the organisation.

  • Collaboration with IT: Effective collaboration with IT teams to ensure the availability of reliable data, implement advanced analytics tools, and integrate systems.

Stage 5: Technology enablement
  • Technology Expertise: A deep understanding of finance systems, emerging technologies, and industry trends to guide the selection and implementation of appropriate technology solutions.

  • User-Centric Approach: Understanding user needs, enhancing user experience, and enabling self-service capabilities for stakeholders.

  • Change Management Skills: Managing the change associated with new technology implementation and driving user adoption, with effective change management strategies and communication.

Stage 6: Change management
  • Change Management Skills: Navigating resistance, managing stakeholders, and creating a culture of change and continuous improvement.

  • Excellent Communication Skills: Communicating clearly and concisely to articulate the benefits of the transformation, address concerns, and keep stakeholders informed throughout the process.

  • Empathy and Influencing Skills: Understanding and addressing the needs and concerns of employees, building trust, and influencing behaviour to ensure successful change adoption.

Stage 7: Performance measurement
  • Analytical and Data-Driven: Analysing financial data and performance metrics to measure the success of the finance transformation initiative and identifying areas for continuous improvement.

  • Continuous Improvement Mindset: Fostering a culture of continuous improvement, encouraging feedback, and driving iterative enhancements to sustain the gains achieved through the transformation.

  • Strategic Alignment: Ensuring that performance measurement aligns with the organisation's strategic objectives and supports informed decision-making at all levels.

Supporting finance transformation in the creative industries.

If you're leading a finance transformation project, or want to find your next role within finance transformation, we're here to support.
Ryan Burrow - Associate Director