Assessment of financial systems

An effective financial system is critical for large organisations to plan, manage and report on their finances and resources. But how do you know if your financial system needs to be replaced or simply better managed over the next few years?

Our client was a large, geographically disbursed agency with what could be called “legacy systems”. We were asked to provide a high-level financial systems capability assessment to determine the extent to which the existing financial systems provided the functionality required in the short to medium-term.  Our assessment identified that while the core financial systems were not in need of immediate replacement, systems integration, data quality, and financial systems governance and leadership needed to be addressed. As we were completely impartial in our advice (given we are not in the business of implementing or supporting financial systems), our client valued the independence we brought to our assessment of their financial systems.