ACCA Strategic Professional · Strategic Business Leader · Finance transformation
Vantor Group, a manufacturer, is redesigning its finance function as part of a finance transformation. The CFO wants finance staff to spend less time compiling reports and more time advising operations using real-time analytics dashboards fed by integrated data. Which outcome best reflects the intended change in the role of finance?
The intended outcome is a move from transaction processing and routine reporting to business partnering and insight. Automation and real-time analytics free finance staff time so they can advise operations and support decisions, rather than spending it compiling data.
- AA shift from transaction processing and reporting towards business partnering and insight generationCorrect
- BA shift to outsourcing all management accounting and removing finance staff from decision-making
- CAn increase in manual reconciliations to improve data accuracy
- DA shift to reporting only annual statutory results to shareholders
Explanation
Finance transformation uses automation and analytics to reduce routine processing so finance can act as a business partner providing insight. The other options either remove finance from decisions, add manual work, or reduce reporting, contrary to the aim.
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