Strategy
How can you ensure that your organization drives towards achieving its strategy? And how can Finance play a crucial role in this?
Get in touchHow can you ensure that your organization drives towards achieving its strategy? And how can Finance play a crucial role in this?
Get in touchAn important role of Finance is to provide insight into how well the organization is achieving its strategic objectives. To do this, it is essential to translate long-term strategic goals into Critical Success Factors (CSF's) which tell us where we need to excel. Then translate those into Key Performance Indicators (KPI's).
For example, if the strategic goal is to grow in the export market because the domestic market is shrinking, it is insufficient to focus solely on sold quantities in the export market. It is crucial to determine what the organization needs to do to grow in the export market. If the export market is a price-driven market, it may be necessary to offer the lowest price (CSF). A KPI can be linked to this, indicating how prices compare to those of the main competitors. This way, Finance provides predictive insight rather than just looking back.
I have been closely involved in determining the strategic objectives of CRV. Subsequently, I served as project leader responsible for redesigning the monthly reports and implementing them in Power BI. A project I did together with EY.
