I think finance executives need to step back a bit and reassess each of the different ways that they can add value. When they do, they’re likely to see that the best path to becoming a true business partner cuts through the terrain of decision support, analysis, planning and performance management. Finance must offer its insights at crucial points in the organization in a way that helps bolster the current and future value of the business. To boost current value, the function must comply with regulatory reporting requirements, identify and avoid economic shocks that could knock the company off its moorings, and process transactions as accurately and efficiently as possible. To improve an organization’s future value the finance function must excel at the intangibles: budgeting and forecasting, scenario planning, and analyzing the organization’s capital structure to identify return on investments.
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