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      Today, the finance function is often still seen as a purely back-office function - a serious mistake. This is because it can anticipate changes in the business environment and provide decision-makers with information that is critical to success. It can therefore make an essential contribution to achieving the company's strategic goals.

      Requirements for a future-oriented finance function

      Successful innovation requires identifying and responding to signals of disruptive change in the market. New stimuli such as the EU's Environmental, Social, Governance (ESG) action plan or the switch to SAP S4/HANA are forcing companies to rethink their finance function and prepare it for the future using modern technology so that it can take on new tasks such as ESG reporting.

      In doing so, it is subject to numerous requirements: The modern finance function is resilient and agile. It is evolving from an administrative role to an advisory function for the entire organisation and is increasingly assuming the role of a forward-looking business partner. Its objectives are closely integrated into the overall corporate strategy and the specific competitive strategies. As a result, a new dimension of process efficiency is achieved.

      For a successful business future, it is therefore fundamental to understand the finance function as a corporate strategic imperative. At KPMG, we view our clients' finance function from their overall strategic perspective from the outset.

      How can change succeed?

      In order to fulfil the requirements described, a number of conditions must be met:

      • suitable organisational structures
      • harmonised and targeted use of digital solutions
      • the realignment of competences in the teams
      • Consideration of new forms of collaboration

      Repetitive activities can be almost completely automated in the future. Innovative technologies will enable financial data and information to be analysed and interpreted in ever shorter periods of time in order to support important decisions. For greater resilience and long-term success, it is crucial to understand digitalisation as a holistic and open-ended transformation of the entire finance function.

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      Our approach

      KPMG has developed the "House of Finance" as a holistic approach to the digital transformation of the finance function. This involves identifying, evaluating and shaping the relationships between the various functional areas. In doing so, we take into account the specific requirements of the industry.

      The strategy, which is broken down more deeply in the steering model and the target operating model and is increasingly orientated towards end-to-end processes instead of traditional functional departments, forms the umbrella of our company.

      Fully harmonised and standardised financial processes are the main pillars of the "House of Finance". Interfaces to other areas such as Customer Relationship Management (CRM), Research & Development (R&D), Supply Chain Management (SCM) or Human Resources are clearly defined and technically realisable.

      Technologies thus form the basis for the automation and restructuring of existing processes. All levels are relevant here: from subsystems to ERP and data management systems through to analytical systems such as Enterprise Performance Management (EPM) and Business Intelligence (BI). The aim here is to define an optimised IT architecture for the new finance function in coordination with the company's IT.

      We are happy to support your company holistically on the path to digital finance transformation. Get in touch with us.

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      Marketplace - Assessments

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      Evaluate whether your finance department is ready for the future.

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      Determine the potential for outsourcing the preparation of annual financial statements under commercial law.

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      Optimise your master data management.

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      Evaluate the degree of harmonisation between accounting and controlling.

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