Futureproof Your Financial Health
A Model for Advancing Financial Maturity in Any Economic Environment
By making some simple but critical changes, finance leaders can optimize their organizations’ financial health in ways that better equip them to navigate any disruptions ahead.
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The moment for regaining control over financial health is now. And the key lies in financial maturity.
The model and best practices in this eBook help you:
- Assess your financial health and outline the best path to more secure footing
- Understand how visibility, control, and financial performance affect financial health
- Unify data to reduce risk, boost operational performance, and optimize spend and liquidity.
During the past year, many organizations relied on crisis management and recovery actions to keep running. Effective in the short term, these efforts ultimately hamper financial recovery and growth. Instead we recommend making some simple changes that will set you on a path to financial stability and maturity. Download this eBook to view the recommended four-stage model to futureproof your financial health.
'Resilients' - as described by McKinsey - are businesses that perform better financially at both the outset of a downturn and after. Here, performance is measured in terms of total returns to shareholders (TRS). Simply put, resilients prepared sooner, faster, and more strategically to handle disruptions in profitability, cash flow, liquidity, and growth.
What does this guide help financial leaders do?
This guide provides a model for getting ahead and best practices to help you take stock of your company’s financial health. It also aims to demonstrate how visibility, control, and financial performance affect financial health, and it introduces a way to maximize business value through harmonizing a broad range of spend and liquidity-related processes.
What are some ways that resilient companies pull ahead and stay ahead?
First, they create flexibility by bringing their balance sheets in order. Second, they prepare sooner, respond faster, and commit to cutting costs with greater precision. And third, they prioritize growth-especially in countercyclical sectors-even if the initial price tag is higher.
What are the four stages of financial maturity?
The first stage, Stage 0, is the Reactive Stage, during which a company depends on manual processes to manage finances. During Stage 1, the Operationalized Stage, the company begins to digitize operations and implement online payments and touchless payments. In Stage 2, the Orchestrated State, the company has progressed to AI-driven screening for fraud, payments optimized for working capital, and strong cybersecurity. Finally, in the Optimized Stage, Stage 3, companies are employing intelligent, proactive financial forecasting, can view cash flows in real-time, focus AP and Treasury on strategic projects, and have the agility to withstand disruptions.