April 16, 2025
Over the years I have encountered Clients with multiple Finance Business Systems and I would say this is actually the norm. It may surprise you that a CFO whose role is to ensure a streamlined, efficient and effective Finance function could tolerate more than one Finance Business System but that is the norm in my experience.
The Enterprise Resource Planning or ERP as it is commonly known has never provided all of the Requirements of a Finance function. A fact which many will still find surprising. We live in an Age of the most cutting edge technology known to man or woman, whose exponential growth rate is phenomenal and yet still multiple Finance Business Systems proliferate.
This has led to the rise of the Finance Systems Manager, a role practically unheard of when I started my career. It just wasn't on my career horizon, yet it attracts very talented and special people. Why are they special? Because they all started out as Accountants, all share a fascination with technology and all like a challenge.
To the Non Finance person you may think that Period End is boring, yawn, what the Accountants do while they work late and eat Pizza. Surely, by now they should have it mastered, what could go wrong I hear them cry?
However, this is the sweet spot of the Finance Systems Manager where they thrive and earn their corn. Every Finance person on the planet knows that Period End is dependent upon drumroll please...the Finance Business Systems operating smoothly. Yet that is seldom the case and there will always be some glitch or unforeseen event that these people have to solve.
In my experience no Finance function of any note is capable of functioning effectively beyond the medium term, that is 3 months tops, without a real Leader in the Finance Systems Manager role.
When I perform Organisation Design of a Finance team or maybe even a new Finance Shared Services Centre, I always recommend the creation of the Finance Systems Manager role. This always surprises the CFO. Naturally when redesigning a Finance team, whether it be 50 or 250 Finance staff the CFO expects to achieve a leaner team.
However, there is always new Roles created when a Finance Organisation Design exercise is performed. Why? Because the Technology landscape is constantly evolving and it
This is where the Finance Systems Manager comes into their own and adds real value to a Finance function by seamlessly bridging the gap between IT and Finance. On the one hand ensuring all Finance Business Systems effectively support the CFO and their team then secondly providing an engine for growth.
The latter may surprise you but this is true. No Finance function of size or Finance Shared Services Centre can expand if it does not have a firm Business System base.
At Finance Transformation Consulting our approach is the same whether it be a Finance Process or a Finance Business System. You cannot make effective decisions without a firm Baseline of every Business System, who currently supports it, what it costs and the key Role it plays in a Finance Process.
Measure to Manage is not just for people and process it is the cornerstone of an effective Finance Business Systems Strategy.
For more check out our website.
Best Regards,