Paris, July 11 – Financial Directors may sit at the top decision-making table, but their voice is not always heard when it comes to strategy – but this will change. The CFO Agenda 2008 shows that in future the CFO will be the "company asset warden" as well as the "wealth creation navigator" for the Board.

The development of the finance function from safeguarding company’s assets to create value requires a comprehensive transformation strategy by the CFO. The Capgemini Consulting European CFO Agenda 2008 survey based on responses of 239 finance managers across 10 countries illustrates the strategic cornerstones of this transformation path: Corporate performance management, employee qualification, alignment of organization and processes, system integration and effective corporate governance.

Interlinking the control and performance levels produces flexibility

The broader range of CFO´s responsibilities leads to higher demands regarding know-how and processes of the finance and controlling organisation. 90 percent of those questioned see close interlinking of the business strategy and the performance of operational systems as an important or very important consideration over the next two years. In order to react quickly the simplification of control parameters and processes is necessary as well as the integration across various levels and units of the enterprise.

Yoram Bosc-Haddad, Vice President Global Finance Transformation within the Capgemini Consulting discipline says: "Control systems and planning methods have to bereviewed regarding flexibility and efficiency.

Enterprises can only master the challenge of the ever increasing volatility of the market using adaptive planning instruments. Financial parameters alone are not sufficient anymore to manage the enterprise in complex markets. Isolated concepts, such as the Return on Investment (RoI), only view tangible quantities, and usually focus on the effects of past decisions, or include future scenarios only from a specific viewpoint. As a consequence the company either aligns too much to the past or concentrates solely on the future."

Creating an innovative and flexible finance organisation

The harmonisation of data and processes are identified as key areas of improvement. Of those questioned global master data (78 percent) and standardised processes (82 percent) were high-priority implementation activities for them over the next two years. Accordingly, 76 percent of the CFOs see the establishment of global process owners as important or very important. Over the next two years, the silo mentality of the finance and controlling organization will be replaced by working methods integrating accounting, controlling and business unit controlling, which should contribute to a more efficient analysis of results. The establishment of Shared Service

Centres in the finance and control function will further fortify the position of the CFO.

Strengthening the CFO using corporate governance

Many CFOs will have to resume focussing on corporate governance, because more than a quarter of the

companies have problems with establishing the structures. 83 percent believe that the alignment of corporate governance and process optimization projects will make implementations more successful. However, despite of the issues regarding deployment 84 percent of the CFOs are convinced that they can utilize corporate governance to raise the profile of the finance function and position the CFO as a "wealth creator".

About Capgemini Consulting

Capgemini, one of the world's foremost providers of consulting, technology and outsourcing services, enables its clients to transform and perform through technologies. Capgemini provides its clients with insights and capabilities that boost their freedom to achieve superior results through a unique way of working, which it calls the Collaborative Business Experience. Capgemini reported 2006 global revenues of EUR 7,7 billion and employs more than 75,000 people worldwide.

Capgemini Consulting is the management consulting discipline of the Capgemini Group. With 5,500 consultants, Capgemini Consulting is a recognized global leader in large-scale, enterprise-wide transformation.

We collaborate with our clients to achieve tangible business results, sharing the risks and leading the transfer of skills and knowledge to client organizations.

For more information: www.capgemini.com