Most organizations have seen a rise in the cost of finance, reversing a long-term downward trend. However, PwC’s Finance Effectiveness Benchmark Study finds that top performers have been able to keep costs under control while delivering improved service.
The costs of a typical finance function are more than 60% higher than those of the top performers, which is a significant difference. Median organizations tend to focus on short-term performance improvements instead of the long-term solutions and may inadvertently build in cost.
On the other hand, leading organizations have taken their finance function to the next level, integrating it with other support functions, not only improving the value of the operations but also the efficiency.