The illusion of speed and progress brought about by 'skipping' important first steps in a Finance Transformation Program are common to many. You will see many Articles headline 'The Reasons why Finance Transformation Programs Fail'. Which is the negative end of the Consulting Market. The end that wants to scare you into handing it over to the Professionals.
I find such an approach tiresome. I would rather discuss the benefits, the exciting new dawn, the bright new future, the art of the possible. That start of a Finance Transformation Program where we can all dream. Easy, lets not get too excited.
At this point in my Career I would say any Senior Finance Leader could run a Finance Transformation Program PROVIDED they adhered to some key principles and guidelines for each Phase of the Program. Counter intuitive I hear you cry, the Consultant says we can do it ourselves, he must know something we don't...and maybe I do.
By the way, by Finance Leader I mean you are a recognised Finance Director, Deputy CFO, Head of Finance, etc. Not recognised by yourself...but by the wider World.
Heresy I hear the Consultants cry, they can do 'nowt right without us Consultants!' Well if you think about that logically for a minute. Just pause and digest this. 97% of all major Transformation Programs are late or overbudget or both...so is this because 97% of them were run by Finance Leaders fresh out of MBA school?
Well let's look at this World another way, how many Consultancies / Consultants are there in the World? Do you think they are employed on only 3% of the Worlds Transformation Programs? Doesn't add up does it. So it is fair to say that an experienced Finance Leader is as capable as a Consultant of running a Finance Transformation Program.
Don't agree with me? Ask Paddy Power because if they looked at the above stats they would scream at you that the the in situ Finance Leader, the one you are already paying, has as much chance of delivering you success as an outside Consultant. Never thought you would hear Paddy Power and Finance Transformation mentioned in the same sentence did you?
Now I know the arguments for and against. My current Finance Leader doesn't have the bandwidth, ERP is not their bag, they struggle with phone upgrades, etc. However, if I was the CEO of a major Business I would be on the fence as to whether I let my own people or outsiders lead my Finance Transformation Programs.
On the FENCE!!! Surely its a nailed on racing cert that you would bring in the experts, how could we even reach the stage where the top Boss, the CEO, is thinking 'either or' much of a muchness if viewed in success rate terms. After all is said and done, the 'outsiders' will just come in and blame my people so why not let my people just go ahead and do it..?
Interesting poser isn't it and I appreciate I am poking the bear that is the 25m Consultants on LinkedIn but if I said you were all great and indispensable where is the fun in that?
I have 2 Clients at the moment to whom I provide such Guidance. They don't need me all the time, they are experienced people but they like to do three things:
- Sense check their approach - minus all the Consulting jargon
- Discuss their problems; and my favourite
- They bring me their successes
Takes on average 2 days of my month per Client, great value for money for any Finance Leader who is well able to deliver themselves they just need a critical friend.
Reach out if you need any help, Client delivery isn't all 5 days a week, for anything else you will find a good Book below.
Best Regards,
Michael Ryan.
PS Get the Free Copy of the Book while you still can, click the image and Download
