With the unexpected shift in the work landscape caused by the pandemic, many business leaders are questioning how they can become more resilient and agile across their finance operations to support business operations better.
Finance is no longer considered a dull, downstream back-office function. It has become more widely recognised as the backbone of a successfully run organisation. A streamlined finance function has the capability to provide critical business metrics on product/service performance, capital investments, cost management, and overall measures of competitive advantage.
Here are our 3 top tips when conducting successful business analysis:
1. Buy-In
Involve your teams and stakeholders from the beginning. Early involvement will encourage better insights, increased benefits, and a more comfortable transition to new ways of working.
2. As-Is
Methodically capture existing operation process flows; this will help baseline areas of excellence or improvement.
3. To-Be
Articulate specific requirements and deliverables, tracing them to target objectives and benchmarks.
Are you considering conducting business analysis?
It always starts with a conversation with your team. Make sure you break down your list of priorities, then get ready to find the suitable support without compromising your objectives and maximising the resources you already have.