This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice (http://www2.deloitte.com/ca/en/legal/cookies.html) for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Finance trends: Modernizing finance in private companies

Published on: Jun 01, 2017

Success in anticipating and managing a disruptive event will depend on the agility of your finance team.

At some point, every private company will face a disruptive event—a major acquisition or divestiture, the introduction of private equity (or third parties, joint ventures, etc.), or going public through an initial public offering. While some private companies may believe these events are unlikely, the truth is it's a question of when, not if, they will happen.

Disruptive events can cause significant transformations in both the finance team and the business. Private company finance leaders know their teams must acquire greater competencies as the business grows. Having a plan to modernize the finance function is important under normal growth cycles, but when disruption occurs, having a more mature finance team isn’t merely important—it's critical.

Finance trends: Modernizing finance in private companies is based on a survey of Canadian CFOs and finance leaders conducted in the summer of 2016. The report examines the current roles of finance, and the capabilities both CEOs and CFOs expect their finance teams to have within the next few years. The report also includes a discussion of the key steps private organizations need to take to:

  • Improve the efficiency of their current finance operations
  • Provide more meaningful information to company owners about their finance operations
  • Strengthen the capabilities of the finance team

The report also offers a framework to help CFOs evaluate their finance teams' current capabilities and identify the core competencies they will need to help their companies successfully manage a disruptive event.

 

Contact

Mike Goodfellow Michael Goodfellow

Michael is the National Leader of Audit Advisory Finance at Deloitte Canada. He and his team offer an in-depth, investigative approach to modernizing finance. Guided by his extensive work experience and Deloitte’s proven ability to transform business challenges into insights and opportunities, Michael partners with public and private companies of all sizes, globally.

Download

Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.