LEADING PRACTICES
At AEGIS, we leverage a maturity model framework to benchmark your organization against – relative to where you are today, and where you would like your Finance function to be in the future. We use a five stage maturity model: Lagging, Evolving, Maturing, Enhancing, and Leading. This model is applied to each TOM component. Our clients determine where they want to be along this continuum by component.
REPRESENTATIVE EXAMPLES
LAGGING
- Link to corporate strategy not apparent
- Minimal global coordination
STRATEGY
LEADING
- Priorities driven by businesses
- Advisor/business partner
LAGGING
- No role definitions
- No formal talent development
- No performance management, coaching
PEOPLE
LEADING
- Performance management, skills development, and coaching linked
LAGGING
- Local unique structures
- No centralized services
- Roles & responsibilities locally defined
ORGANIZATION
LEADING
- Full shared services/ outsourced transaction processes
- Local/BU team full analytic partner
LAGGING
- No policy documentation
- No process ownership
- One-off activity automation
PROCESS
LEADING
- Single, global process taxonomy
- E2E process activity digitization
LAGGING
- No internal control framework
- No finance wide governance committees nor standards
GOVERNANCE, RISK
& COMPLIANCE
LEADING
- Globally deployed controls framework
- Active preventative controls monitoring
LAGGING
- No data dictionary
- Local inconsistent data flows and documentation
DATA
LEADING
- Data driven culture
- Data warehouse/data lake segregates analytical data from core financials
LAGGING
- Disparate, multiple financial systems & tools
- Finance and IT operate independently
DIGITAL
TECHNOLOGY
LEADING
- Global financial systems – unified tools and platforms
- Digital interventions across all Finance processes
LAGGING
- No centralized management information – ad hoc reporting
- Highly manual budget process
INSIGHTS &
ANALYTICS
LEADING
- Reporting factory approach for all production reports
- Data science approach for enterprise/business unit analytics
LAGGING
- Experience concepts not addressed
EXPERIENCE
LEADING
- Human centric constituent group service in place
- Focus on experience, innovation, and intelligence
LAGGING
- No outcomes defined
- No process improvement method
- No tracking mechanism
OUTCOMES & BENEFITS
LEADING
- Full metrics profile, part of routine reporting
- Benchmarks and improvement targets at better practices level