Once the prerequisites are in place, we are also happy to help with the implementation of suitable consolidation systems. Our solutions in Group Accounting focus on the market leaders of the system providers, for which we have developed our own expertise over the last 20 years.
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CFO Advisory | Finance & Controlling
The speed of transformation in the finance function has continued to increase. In recent years, CFOs were often forced to focus on acute challenges such as crisis management and adjustments to the technical foundation, rather than on transforming the finance function for the major challenges of the coming years. 4C GROUP CFO Advisory supports you with issues like demographic shift, climate change, and digitalization. We offer strategies and solutions to align your finance function with securing the future of your organization and successfully navigating your company through the complex, disruptive business world.
Our Services
What Does Transformation mean for the Finance Function?
The existing acute priorities complicate the transformation progress of the finance function, which is crucial for the long-term success of the company. But what factors trigger this transformation, and how should corporate governance be shaped in the future?
Main Drivers of Transformation in the Financial Sector
The upcoming, significant shifts - demographic shift, climate change, and digitalization - are shaping the future. Additionally, there is a need for a new form of resilience in the face of ongoing crises. Notably, the predictability of these developments is remarkable. We already have a clear idea of what to expect and can even partly estimate the pace of these changes. Now is the ideal time to further develop the CFO's navigational tools. It would be irresponsible to miss this opportunity and thus risk competitiveness, or in other words, not to actively manage the structural risks that threaten corporate success.
Key Requirements
Transformation in the CFO Office
Key Requirements for a Successful Transformation
For an effective transformation, alongside managing acute challenges, certain prerequisites are essential:
- Flexibility and Change Readiness: To effectively shape the transformation, it is crucial to significantly strengthen these two aspects.
- Automation of Processes: Finding and affording additional personnel is becoming increasingly difficult. Therefore, increasing staff is not an option. Instead, processes must be automated to such an extent that existing capacities are freed up for change.
- Technological Upgrades: The technological platform must be developed in a way that significantly accelerates the speed of transformation.
For the finance function this specifically includes the implementation of the following measures:
- Introduction of S/4: For standardization, integration, and automation as a key step in the transformation.
- Implementation of a Flexible CPM Platform: To represent both known and new, unknown requirements as a central component for adaptability to future challenges.
CFO as a Navigator in Disruptive Times
In today's volatile world, traditional planning methods are inadequate. Flexible, company-wide simulation models are needed, providing decision-relevant information, and aiding in the implementation of swift strategic shifts.
The finance function also holds a key role in ESG management. It must implement a group-wide, auditable reporting system to meet regulatory requirements alone. Furthermore, ESG will sooner or later be integrated into corporate governance, which will enable the implementation of a sustainability strategy.
The importance of risk Management in corporate governance is increasing substantially, making its integration into both simulation and reporting systems essential.
Transformation in the CFO Office: New Roles and Skills
The roles and qualifications within the CFO Office are currently undergoing significant changes. Instead of controllers who compile numbers and reports, there is an increasing need for analysts and statisticians who perform necessary data analyses arising from products, customers, and supply chains. These analyses are essential for delivering and billing services, managing business operations, and evaluating strategic opportunities. The Target Operating Model in the CFO Office will more distinctly separate transactional elements in Shared Service Centers and Reporting Factories from the analytical components of Financial Advisors and Data Scientists. This shift in the finance sector requires a clear vision and a roadmap to be successful.
Our Focus
We support your Transformation.
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4C Solutions
Insights
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4C Whitepaper: "Digital Finance"
Download our Whitepaper to learn how digitalization is driving the transformation of financial processes and roles, making strategic realignment and data-driven decision-making essential.
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4C Whitepaper: Target Operating Model
The whitepaper provides insights into the adaptation of finance in the context of CFO 4.0, including the integration of new data into reporting, the design of reporting and control in the era of Industry 4.0, as well as the impacts of moving CRM systems into the cloud on the CFO.
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4C Whitepaper: Optimize Cost and Activity Accounting
Discover the 4C Healthcheck for a thorough analysis. Find out more now!
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4C Whitepaper: CSR reporting - legal requirements and strategic use
Discover now how you can use CSR effectively and generate added value. Read now!
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4C Whitepaper: Creating the foundation for effective performance management
With the 4C approach to holistic corporate management. Discover it now!
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4C Whitepaper: Transparency through effective IT controlling
Gain a competitive edge with efficient IT controlling. Discover our solutions and benefit from transparent IT management.
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4C Whitepaper: Minimalism in Reporting - The 4C Notation ©
How to use a company-specific presentation to make your reporting appealing, thus increasing the acceptance and effectiveness of your top management.
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4C Whitepaper: Top Management Reporting
Effective corporate management with clear KPIs. Discover the 4C approach for optimal management cockpits. Read now!
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4C Whitepaper: Cost Management - more than just Cost Reduction
Our 4C Whitepaper shows the advantages of potential management. Optimize your cost structure now!
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4C Whitepaper: Effective Group Controlling
Optimize corporate governance with effective Group Controlling. Discover the success factors and benefits of our method. Download now!
Results of this year's working group
12th Group Accounting Competence Network 2024
The discussions were intense, and the workshops highly interactive. Three key insights emerged clearly, with the last point likely to have a significant impact on the future of the finance function.
Great potential in the consolidated financial statement process: Although the consolidated financial statement process is often considered "well-established" and optimized, it quickly became clear that there are still many opportunities to make it more efficient. Particularly in the areas of automation and digitalization, companies can still unlock significant potential. What was especially impressive was that many experts see this as a real lever to future-proof their processes.
Too many non-value-added activities: One point that became clear was that a substantial portion of the actual closing work in the group involves the control and correction of upstream processes—whether through manual adjustments, transformations, or complex reconciliations. This ties up resources that are urgently needed elsewhere. We all agreed that a shift in mindset is necessary here: quality needs to be built into upstream processes, and seamless integration of individual financial statements into the consolidated financial statements is crucial to freeing up more time for value-added activities.
And now, the point that adds extra momentum: AI is in the spotlight – but it remains exciting! Artificial intelligence is the big topic, and although many companies are still in the early stages, it was clear that revolutionary possibilities could be hidden here. Some use cases have already been identified, but most are still in the learning phase. What convinced me was that companies investing in AI now will have a competitive edge in the future.
This shows us how important it is to regularly come together to learn from each other and explore new ways forward. A big thank you to all participants for the great exchange and fascinating insights!
Cooperations
Our Success Stories
Client Testimonials
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"The 4C GROUP pursues a consulting approach that is rarely found today. The combination of professional know-how, procedural expertise and technical competence offers considerable added value, especially in performance management. Concept and implementation go hand in hand and you get not only a presentation of options, but real consulting based on individual requirements".
Oliver Braun, Managing Director | Intralogistics Solutions
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We would like to point out that this website only offers a limited insight into our services. Our expertise and range of services cannot be fully represented on this platform. For individual advice and to address your specific concerns in the best possible way, we cordially invite you to contact us directly so that we can offer you tailor-made solutions.
Thank you for your trust. We look forward to hearing from you.
