Thanks to recent accounting scandals and an increasingly competitive environment, many chief financial officers and the finance organizations they lead have started to take on new roles within the enterprise. However, given the current state of the finance function in US companies, companies first need to understand the challenges to finance—and the road map to increasing its strategic capabilities.
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managing the business. The best companies have found that reaching the goal of a more strategic finance function warrants a twostep approach, as follows. These companies deal with the complexity of the various functions that come under the finance umbrella, making them as efficient as possible and, in the process, freeing up corporate resources for other activities. As one global treasury manager put it, We must develop a finance function that is as efficient as it can be, replicate it globally, and