Description: This pathbreaking book presents a framework for finance professionals to re-evaluate how they can truly add value to their business. Based on Coopers & Lybrand's pioneering Office of the CFO program, it reveals how to move beyond internally focused financial management to provide insights and analysis that deliver competitive value and direction to the organization. Drawing on extensive experience with companies of all sizes in many industries, the authors lead CFOs and their colleagues through five critical steps that reflect the challenges facing them today: Partnering and Integration - redefining the role of Finance and retraining staff to understand business operations and market drivers; Strategy - applying traditional analytical skills and business judgment to the question: Where should our company apply its capital resources?; Management Control - producing a new set of strategic measures that business managers can use to anticipate problems and monitor progress; Cost Management - creating an aggressive, long-term, least-cost program that replaces "cost accounting" and continuously drives costs down from within; and Systems and Processes - classifying each financial process as "core", "support", or "no added value", and determining the real drivers that affect the company's profitability. Highlighted by proprietary information from Coopers & Lybrand's study of 50 benchmark companies worldwide, as well as illustrative case studies, Reinventing the CFO is essential reading for all financial executives who want their companies - and themselves - to survive and compete in the 21st century.

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