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The need to stay ahead of competitors is a major reason why operational excellence has become a high priority for senior executives, including chief financial officers.
Businesses face continuing pressure to streamline operations given the current economic environment, competition from emerging markets and evolving customer requirements. Ongoing Accenture High Performance Business research shows that operational excellence can help differentiate organizations in a highly-competitive environment and help them achieve competitive advantage.
To generate greater value from operational excellence programs, CFOs need to take a more active role. They can serve as trusted business advisors to CEOs, thereby helping to set a firm foundation for projects that can deliver strategic advantage. They can also help initiatives stay on track by serving as operational excellence program sponsors. In addition, by knowing how successful execution can pay off in delivering greater value, CFOs can use their well-honed finance skills to monitor progress on the path to high performance.
To further understand how CFOs perceive their roles in operational excellence initiatives, Accenture and CFO Research Services recently conducted a survey. More than 160 responses were collected from senior finance executives working in midsize and large companies in a wide range of industries.
This latest research confirmed what we have seen in our own High Performance Business research and our client work: that CFOs and senior financial professionals can be critical to the success of operational excellence initiatives. CFOs bring an invaluable perspective to strategic planning and prioritization of company initiatives, an impact that can extend far beyond just “the numbers.” In times of uncertainty, this impact is all the more crucial and beneficial.
Read the full research report: The CFO’s Role in Achieving Operational Excellence.
April 8, 2010
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