
PwC's Global Economic Crime and Fraud Survey 2020
PwC's Global Economic Crime and Fraud Survey 2020 respondents reported total losses of US$42B, on top of the damage to brand, reputation, and market share.
Together, we will help you get the most out of the race for the future by making the Finance department an even stronger business partner. Trust in Transformation.
In most companies, Finance is currently undergoing a major transformation: from a mere administrator of figures and retrospective observer to a business partner and enabler for the business of tomorrow. Times of crisis in particular require Finance to take on an increasingly central, strategic role in the company.
The CFO’s office is a place where crucial pieces of information on the company’s core business come together. The CFO is responsible for evaluating opportunities and risks created by external drivers, developing realistic scenarios, and introducing specific measures throughout the firm. In terms of controlling, this means companies can only fulfil their core tasks if they are in a position to locate key opportunities and risks and proactively identify new paths.
This makes the CFO a quality controller and forward-looking planner – an authority that must be able to guarantee a secure future for the company in various different scenarios. Digital technology is enabling CFOs to meet this demand more effectively than ever before.
Making this paradigm shift requires a quantum leap on four levels: increased efficiency through automation; quicker reporting and responses to enquiries; fundamental developments in ways of working and presenting information; and rapidly learning how to handle bulk data, with automated planning and forecasting playing a key role.
“The future is becoming more important for finance departments than the past. Disruptive changes in numerous sectors and industries are making it essential to examine what might happen tomorrow, next year and in five years’ time.”
In our podcast “Leading Corporate Transformation” by WHU Otto Beisheim School of Management and PwC Germany, Prof. Dr. Serden Ozcan, Prof. Dr. Martin Glaum (both WHU) and Gori von Hirschhausen (PwC) provide authentic insights into transformation projects at a wide range of companies, described from different C-level perspectives of top European executives, highlighted with scientific findings.
Integrated collaboration and a common vision are crucial success factors in a transformation like this – and our integrated finance transformation team can help ensure seamless integration of all your sub-projects across the whole value chain of a finance transformation. The best place to start with transforming your Finance function will vary, depending on the status quo of your company. But there’s one thing all transformation projects share: The time to start is now. Transform your tomorrow.t’s time to start today – to transform your tomorrow.
When starting the transformation to Finance 4.0, there are several key questions to be answered: What should Finance look like in the next two, five or ten years? What is state-of-the-art? What is possible and how can it be achieved? For this individual journey, we develop a customised “digital roadmap” together with our clients, tailored to the company’s needs. The complexity and design of this roadmap are largely determined by the company’s structure and the industry in question.
Another important consideration before transforming Finance from a number cruncher into a strategic business partner is to define which tasks should be handled by Finance in the future. For this purpose, we will work with you to develop a target operating model (TOM). This takes into account all relevant dimensions– from process architecture and technology to your employees. The ultimate goal is the rapid and comprehensive implementation of digital technologies, a common “digital level” for all employees, and thus a Finance function that serves the core business efficiently and effectively.
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PwC's Global Economic Crime and Fraud Survey 2020 respondents reported total losses of US$42B, on top of the damage to brand, reputation, and market share.
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