As IT organizations evolve, the finance function must do so as well. The finance organization must transform from a reporting function to the role of strategic partner to technology and business strategy. It must ensure that essential business data (both financial and non-financial) is captured and it must use that data to identify and propose value-enhancing opportunities for the organization. To reach this strategic level of maturity the finance organization must define where it is today and develop a path to maturity that it can use to cast a vision for itself and its stakeholders.
Integris Applied has worked hands-on with technology organizations that were grappling with this evolution. Through these experiences we have developed a view of how a finance organization can mature in a measured and methodical manner.
In prior papers, we have described Integris Applied’s approach to assessing and improving financial management maturity.
In this text we will walk through a working example of financial management maturity in the function of Cost Capture & Currency, which is defined as automated capturing and tagging of costs for value-added reporting at varying organizational levels and for industry comparisons.
