Have Map, Will Travel

Here are some characteristics and approaches that the best road maps today incorporate to help finance executives stay on the path and respond to market cycles: 1. Entire scope of initiatives should be documented and categorized. 2. Business model attributes drive prioritization. 3. Dependencies within team-owned initiatives can be rationalized. The following are examples of the most common mistakes that need to be avoided to successfully manage finance transformation change: 1. Leveraging a downsizing model as the main vehicle to take cost out of the business. 2. Underutilizing the existing management team to identify improvement opportunities. 3. Lack of understanding of the fixed versus variable cost structures within organizations.