CFO 4.0 - The Future of Finance 229. Financial Transformation Live - Finance Record to Report Maturity Model
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Jun 3, 2025 Neil Lynchehaun, a finance transformation expert with decades of experience, dives into the Records-to-Report maturity model. He explains how maturity models serve as inspirational tools rather than mere evaluations. The conversation highlights the five levels of finance maturity and the need for a mindset shift towards operational-led planning. Neil discusses real-time accounting to eliminate month-end chaos and emphasizes creating finance functions that actively support business operations, pushing back against traditional compliance-only approaches.
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Purpose of Maturity Models
- Maturity models inspire progress rather than evaluate businesses.
- They break transformation into achievable next steps tailored to each organization's needs.
Defining Value in Finance
- Value-add activities are those customers would gladly pay for.
- Many finance tasks are necessary non-value add or waste that should be minimized.
Finance Lags Operational Pace
- Finance often lags behind the operational business by focusing on month-end cycles.
- This causes delays in decision-making and disconnection from daily business reality.