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Finance leaders now are faced with the task of identifying and mitigating ESG-related risks, allocating resources towards sustainability initiatives and communicating the organisation's ESG performance to stakeholders. One of the most persistent misconceptions about sustainability is that it comes at a high cost," Soh notes.
Historically, banks have faced high-cost pressures exacerbated by their legacy systems. According to S&P Global Ratings, operational costs for European banks increased by over 4% annually from 2021 to 2023 , emphasizing the need for effective costmanagement strategies.
Concerns about the overall cost of the TCJA resulted in the imposition of a limitation on state and local tax deductions (the SALT cap), in addition to other costmanagement features. You can unsubscribe at anytime. These concerns have been integrated into tax proposals in various ways over the past decade. Should CFOs?
She pivoted to banking, taking on a temporary role at California Bank & Trust, where she quickly discovered her passion for the intricacies of finance. Her journey through various roles in the bank—ranging from specialized asset analysis to riskmanagement—shaped her understanding of the business and led her to the CFO office.
The finance operating model is shifting and the pressure on banks’ finance teams to do more with less has never been greater. Successful finance teams must operate as strategic business partners, using tools such as advanced analytics and predictive modelling to bring data-driven insights to the business. DOWNLOAD NOW.
From the ongoing global conflicts to the lingering effects of high inflation, corporate finance professionals are gearing up to navigate an environment marked by volatility and uncertainty. This trend is expected to persist into 2024, influencing strategic decisions and prompting a focus on costmanagement and expense reduction.
Read More Going forward, a decision by White to specialize in finance, rather than following the traditional rotation between operational and financial roles, was initially met with skepticism inside the military. Early in his career, it was suggested that his focus on finance could limit his promotion prospects.
One might say that it has been more than four years since, but it is an undeniable fact that shifts within the Finance function and the organisations as a whole are still ongoing here and there. Challenges It is a given that transformation comes with challenges and risks along the way.
CFOs surveyed agreed that technology could help with strategic spend management: 60 percent told researchers that they agreed process or technology improvement was key to improving costmanagement. Earlier research from Runzheimer, for instance, found that managers lack visibility into the spend of their mobile employees.
Editor’s note: What is it like to work with finance leaders in driving growth against the backdrop of the ever-changing business landscape and macroeconomic environment? Juvanus Tjandra (JT): At KPMG, I lead finance and corporate services transformation in the firm, with a focus on strengthening the performance of business functions.
Discover how our strategic accounting services can embolden your financial strategy and riskmanagement. Cloud-Based Accounting Software for Future Financial Management Gone are the days of manual bookkeeping and cumbersome spreadsheets.
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