• 27-OCT-2016

Finance function is caught in a vicious circle and real excellence will take more than a state-of-mind

PwC rated as a Vanguard Leader by ALM Intelligence*

According to ALM Intelligence’s report, ‘Finance Excellence Consulting’, the finance function is caught in a vicious cycle spending too much time and resource compiling and reconciling numbers, and not enough time interpreting them. The desire for finance to also inform and guide decision-making in a way that steers an organisation too often results in a proliferation of customised reporting that, while meeting the demand for localised insights, feeds back into operational inefficiency and inconsistency.

According to the report, “Although CFOs have been grappling with the finance excellence challenge for more than 20 years, often with the assistance of consultants, their efforts have too often concentrated on operational efficiency disconnected from strategy. Today, two factors are changing this dynamic in a way that is benefitting consulting providers. First, persistently slow economic growth, together with ongoing market and regulatory volatility, is triggering heightened scrutiny from external stakeholders. This is rapidly transforming nice-to-have into must-have improvements. Second, new digital technologies, including cloud computing, advanced analytics, and robotic process automation (RPA), are furnishing CFOs with the means to radically reconceive what finance does and how it does it.”  

Amongst the 24 firms evaluated by ALM in the report, PwC has been positioned as a Vanguard Leader with some of the broadest and deepest capabilities in the market.

Commenting on the capabilities of PwC, the report states that:
“Combining deep finance experience with the point of view and methods of its Strategy& affiliate, PwC stands out for its ability to strategically attack process complexity: taking out the unnecessary activities and protocols that drive inefficiency while doubling-down in the limited areas that truly contribute to value creation in the context of a client’s unique strategy and resources. The firm is also among the more nuanced and thoughtful with respect to the nature of CFO roles and how CFOs can transform their roles without undermining their core competencies.” 

Commenting on the rating, Robert Bishop, US Finance Consulting Leader, said: “We are pleased to be recognised as an ALM Vanguard Leader. Drawing upon broad capabilities, PwC helps clients transform and increase the value of finance by working with CFOs to achieve strategic growth, operational excellence and cost and performance management."

*ALM Intelligence, formerly Kennedy Consulting Research & Advisory. 

Notes
1. For more information on how PwC helps clients determine what success looks like, innovate and create new value, visit PwC Finance - http://www.pwc.com/gx/en/services/advisory/consulting/finance-consulting.html  
2. To find out more about how PwC has been evaluated by leading business, technology and industry analysts visit www.pwc.com/analystviews
3. At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com

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