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How Finance Will Change in 2015

Caught in a prioritization tug-of-war between cutting costs and becoming more strategic, treasury functions mostly expect to maintain the status quo for the rest of this year.

By Treasury & Risk Staff | Updated on June 04, 2015
How finance will change in 2015Despite all the talk of finance’s evolution into a more strategic partner to the business, budgets and staffing remain quite tight. This dichotomy between expanding responsibilities and shrinking budgets is one of the key challenges revealed in this year’s “Finance Key Issues” study from The Hackett Group. The two issues that survey respondents identified as most important in 2015 are Achieving and maintaining a competitive cost structure and Improving decision-making effectiveness.

“Overall, when we talk to business leaders outside of finance, growth is at the top of the agenda,” says Jim O’Connor, global practice leader, global business services and finance advisory programs, for The Hackett Group. “Senior management is looking at growth through innovation, through new products and services, or through expanding into new regions. And so finance is focusing on building the capabilities they need to support the company’s expected growth.”

At the same time, O’Connor recognizes, finance managers continue to face pressure to cut costs. “It’s a duality in objectives,” he says. “As finance is finding ways to be a partner to the business and bring more value, they are also expected to operate with less, to trim staff, and to maintain a competitive cost structure.”

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