The market has been in its bear phase for a while now. Though positivity is gradually seeping in, caution and pessimism still envelop the economy. The finance department, by virtue of its unenviable job of tightening the purse strings, has borne the brunt of anger and criticism. How well have we taken to it? In these thrifty times, has the finance department’s reputation as the ‘Bad Guys’ been highlighted?

We quizzed several finance professionals and found a whopping 88% disagreeing with the Finance departments’ reputation as the “Bad Guys”. Though there has been an initial perception of doom, there is an increasing appreciation by the other departments of the fine balancing act done by the finance department. The Finance Guys are now looked upon by the organisation to champion programmes to drive down costs, maintain financial discipline and help the CEO in running a tight ship. Nobody likes stricter controls. Nevertheless, once the operating managers understand the ‘whats and ‘whys’, there is genuine appreciation and a more supportive stand emerges within the enterprise.

As a result, the finance guys are now playing a more collaborative role in working with all functional heads to manage costs and focus on productivity metrics. There is deep involvement in decision making. The finance department is virtually being treated as the torch bearer in guiding the Company through the troubled seas. Kudos to our finance community for willingly taking on the role of the whipcracker !!

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