Importance of Finance Function and its status in Turkey
In an increasingly demanding business environment - where companies must respond to relentless competitive pressures as well as intensifying external scrutiny - the role of the Finance Function has never been more important. The Finance Function plays a crucial role in enabling the business to achieve competitive performance and make strategic progress, as well as in providing assurance about the state of the business to shareholders and regulators. It must provide the consistent financial information, risk management and controls that enable managers to drive performance improvement, evaluate investments, and meet external reporting obligations. In Turkey Finance Function generally performs transaction processing and handling of tax issues. Whereas, Finance Function should help the business achieve competitive performance and make strategic progress, which includes providing first rate operational finance support, and provide assurance about the state of the business to shareholders through providing the information to manage business and the insights to take it forward. Getting information on how your business is performing - quickly, accurately and clearly - is vital for management. Delivering this - in medium to large and fast growing companies- is clearly a challenge. Therefore, Finance Function that is delivering operational excellence in finance services as a supporting unit is turning out to be a crucial mechanism that is also contributing direct insights in improving operations and decision making process in companies. Cerebra provides Finance Function Restructuring Services that evaluate Finance Function from all perspectives through diagnostic approach and restructure this crucial function based on this evaluation. |