CFO

"The most successful CFOs marry the two types of skills, bringing together the external world of investors with the internal world of company management on an international basis."

"The best CFOs view the finance function itself as a sequence of processes?through which they can exert influence and implement change. "

"Maximizing shareholder value is becoming the number one priority for most publicly listed corporations."

"The VBM [Value Based Management] system needs to combine historic and predictive views with financial and non-financial drivers of the business."

"Frustrated by a failure to convert perceived improvements in operational performance into improved share prices, companies are adopting a value agenda to drive actions through performance measures."

"An effective performance measurement system should deliver several benefits."

"Designing an effective measurement system starts with understanding how the company's operational processes deliver benefits to each customer, whether external or internal."

"Forward-looking CFOs have known for some time that to help their companies manage mounting competitive pressures, they must find an alternative to traditional methods of cost accounting."

"When companies learn the true cost of their products or services, often as not, they find they're backing the wrong horses."

"The [activity based budgeting] model sparks valuable debate between parties involved in each activity and their various customers and suppliers, both internal and external."

"It's possible to implement ABM stage by stage: piloting, integrating and embedding."

"To find strategic direction, even the most complex company with multiple lines of business should focus on major product lines, customer groups and markets."

"Assessing the business impact of a risk involves more than simply estimating the immediate financial loss."

"Different risks are shown to have different impacts on shareholders. Computing the effects of mitigating those risks lets you show the investment community the benefits of sound risk management."

"Developing risk management programs, CFOs consider risks in each of the key dimensions, their interdependence and relation to corporate objectives?good tests of a robust risk management approach in a changing environment. "

"Knowing how and where value is created or destroyed enables the CFO and management team to make the right structural decisions."

"Few companies can achieve world-class capability in every facet of their business. Through outsourcing, you can focus the business on what it does best while accessing the capabilities of others who are world class in what you regard as non-core."

"Gaining scale without mass, [virtual organizations are] able to buy the best services, whenever and wherever they need them."

"What differentiates shared services from merely consolidating functions is the internal supplier-customer relationship that develops between the center and the business units it serves."

"Whatever the approach employed, before implementing shared services the CFO must develop a comprehensive business case, setting out the business issues to be addressed, and the costs and benefits of the proposed solution."

"Two of the most common reasons for failed shared services projects are not communicating with stakeholders early enough and underestimating the impact of shared services on the corporate culture."

"The systems software choice can account for big cost savings in the long term, by efficiently running redesigned processes and cutting both personnel and duplicate systems maintenance costs."

"For the CFO who wants to pursue the role of corporate architect, major systems change is an ideal arena in which to take the lead."

"Considering each re-engineering opportunity alongside the company's strategic goals narrows the software solution options."

"To look for the best software solutions, you need to consider three things."

"Aiming to minimize disruption to the business, the key is to plan work in short phases that yield maximum benefits."

"Finance functions that materially improve their value to the business share a common characteristic: their change is driven by the challenge of realizing a vision."

"The market looks to the CEO for leadership and inspiration, but to the CFO for reassurance and a realistic view of what's achievable."

"Of all business functions, finance tends to lead fastest to the boardroom. This leaves precious little time for planned personal development."