Finance Beyond Transitions

[...]they can involve employees to help them manage the effects of transition as they provide the incoming administration with relevant risk-based scenarios for finance.1 Most importantly, leaders must develop a strategy, communicate often and early, make positive connections with incoming personnel and identify feasible options. Tools, such as intelligent automation, will help CFO organizations cost-effectively process financial information and incorporate financial, budget and performance data to inform decisions on strategy and operations. Potential risks may affect the CFO organization, but finance executives can mitigate risks and outcomes, as shown in Figure 3, with defined steps: * Communicate with critical stakeholders to keep them informed. * Drive operational improvements. * Manage risks related to internal controls and cybersecurity. * Prepare for talent disruptions and virtualization.3 Weave these principles into disaster recovery planning, activities and strategies for risk-based scenarios.