Why People Are the Essence of Finance Transformation
AUTHOR: JENNIFER LOUGHRIDGE
PRINCIPAL CONSULTANT
Jennifer is a Senior Executive Finance professional with 22+ years of global experience. She specialises in Finance Transformation, ESG and Continuous Improvement, with particular expertise in Strategy, Performance Management, Business Partnering, Commercial Decision-Making, Corporate Governance and Valuation.
People – The Human Element of Finance Transformation
It is all too easy to overlook the human element of Finance Transformation. While businesses may be initially drawn to the potential for cost savings and efficiency, the true essence of Finance Transformation lies in delivering effectiveness. Efficiency and a robust control framework are indeed crucial, but they are merely the means to an end. The real focus is on people and their role in the transformation process.
With well-designed processes, thoughtful data use, and the right amount of automation, people can be effective. In addition, without routine, manual tasks filling up time, people have the space to think about what they are doing, consider how they can improve, and do things differently. As a result, they become more creative, not less. When the tools are available, and the environment in which they work supports them, people improve the bottom line.
People-Centric Change Management
People are also the reason why Finance Transformation has to go hand-in-hand with well-considered people-centric change management. People will, additionally, have insights into how it works today and already have ideas about how to improve it. Furthermore, they will know the pitfalls of what may not have worked in the past. Ultimately, people will determine whether the Finance Transformation is successful or not.
Loughridge Transformations: Our People
At Loughridge Transformations, we stand out by creating bespoke solutions for each client. We either work directly with the client’s organisation or arrange project resourcing to bring their Finance Transformation to life.
Each of our consultants at Loughridge Transformations is handpicked for their exceptional expertise and experience. Regardless of their functional speciality, they all possess excellent project and change management competencies. They are also skilled in many of our different services and can adapt to suit your organisation’s needs.
Are you ready to take the next step in your Finance Transformation journey? We invite you to contact us today to speak with one of our expert consultants. Together, we can discover how we can partner with you for success. Let’s transform your finance function together, with you at the heart of the process.
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