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Five Principles to Consider When Consolidating Your Finance and Accounting Function

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Executive Summary

Organizations are constantly reevaluating their expenses and finding ways to boost their productivity. They are under pressure to decrease activities that do not enhance value for their business. This scenario is forcing them to reduce cost and strive to enhance the quality, reliability, and responsiveness of transactions both inside and outside the organization. To achieve these objectives, organizations are employing new business strategies. Intertwined in this change process is the organization's finance and accounting function. The finance and accounting function provides the quintessential tools, knowledge, and information used to outline current and future business practices. Consolidating the finance function releases the value-creating potential of this often overlooked resource of the organization.

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