This white paper from Accenture
states that Chinese enterprises still have much work to do to get to the same level of finance management as the leading finance organizations around the world. This statement is based on survey answers from 95 companies in China, where 40% of the companies are among China’s top 500 enterprises.
The report identified five key actions that CFOs in Chinese enterprises may want to consider to help them create a high-performance finance organization and that can help them create greater value in a challenging, volatile and uncertain business environment:
- Upgrade the finance management capabilities towards value creation and enterprise growth
- Let the CFO play a bigger role in the corporate strategic decision making and standardize the basic accounting
- Build up a closed-loop performance management system; forge closer alignment of performance and budget goals with the corporate value drivers
- Improve information infrastructure to help facilitate the latest outcomes in information management tools
- Address talent and skills challenge by recruiting and training to close the skills gap found in many Chinese enterprises