When momentum is high and the business is rapidly growing, financial fundamentals can easily be overlooked. However, in the race for growth, it is critical to build a scalable finance foundation to support expansion and meet increased demand without compromising quality or performance.
Strategy: A well-defined finance strategy guides scalable growth. CFOs need a strong vision for the future and a partnership with the CEO and Board to align department goals with broader company objectives. Drive a tactical roadmap supported by clear management reporting to enhance visibility. Track operational and strategic key performance indicators (KPIs) to facilitate decision-making, provide an execution path, and build confidence among internal and external stakeholders.
Ask yourself:
- Does your finance department have a strategy, and is it aligned with the company strategy?
- Is your finance strategy adaptable for quick changes, acquisitions, increased demand, and operational complexities?
- Is your finance team clear on the department’s strategy and execution requirements?
- Do you have both executive sponsor and employee buy-in on the approach? If not, how will you address their concerns?
- Are you measuring the strategy against key milestones and KPIs to ensure accountability?
- How are you communicating and reporting progress?
People: High-growth environments present unique challenges that demand specific skills. CFOs need to understand their finance team’s capabilities to align objectives with roles and abilities. Utilize a skill assessment or capabilities matrix to document roles, responsibilities, and individual skills. Identify gaps and deploy employees in roles that align with their skill sets to mitigate turnover, preserve institutional knowledge, and minimize business disruption.
Ask yourself:
- Who do you rely on? Do they have what they need to be successful in their roles?
- Do you clearly understand the activities performed by your finance team and how they contribute to your department's strategy?
- Are roles and responsibilities documented, or do you have a plan to avoid losing legacy knowledge?
- Does the department have the bandwidth to support growth? Are activities automated to allow for new value-adding work?
- Do you have an organizational chart, and is it scalable? If not, how will you address the gaps required to adapt?
Systems: Growth requires reliable systems that provide accurate data for decision-making and can support additional integration, increased data volumes, and complex data sets in a consistently changing environment. Evaluate the current system landscape to understand data flow and sources, and assess whether it is scalable or requires adjustments to streamline or expand capabilities.
Ask yourself:
- Do you understand your data sources? Are your systems integrated?
- Can your systems handle increased data volumes without sacrificing accuracy or efficiency?
- Is there a data governance structure and common understanding of how data is leveraged within the department?
- Are your data structures flexible enough for growth, such as including segments in your chart of accounts for acquisitions?
- Do you have technical support to tailor and maintain your systems through growth?
Synchronized Finance Processes: Growth is often hampered when finance processes are not integrated. Establish regular and clear communication to identify and address issues while driving finance teams to work together. Adapt to the needs of the business and have an active feedback loop. For example, ensure financial planning and analysis (FP&A) and accounting jointly anticipate financial outcomes and proactively manage variances. This will prevent long closing periods, delayed reporting, and manual post-close adjustments. Similarly, create a unified cash management strategy. Have FP&A and the treasury build a joint cash flow forecast to determine the right investment vehicles and capital structures to ensure liquidity needs are clear, available, and predictable.
Ask yourself:
- Are your finance functions integrated? Or do the teams operate in silos? Are the teams proactive or reactive?
- Do you have an open feedback loop between finance and the business? Are you actively adjusting the financial strategy accordingly based on inputs from cross-functional teams?
- Are you working with the business to identify, manage, and control the proper liquidity needs to support expansion activities without disrupting operations?
Win the Race
With a clear strategy, companies can achieve sustainable growth while maximizing value creation and fostering top-line growth. Prepare a roadmap for growth that prioritizes operational excellence and allows scalability. Drive external stakeholders' confidence in the company’s ability to scale sustainably and immediately capitalize on the opportunities ahead.
Do not know where to start? The Ankura Quality of Finance® is a rapid diagnostic to assess the capabilities of the finance organization to support the business, unlock value through finance’s ability to drive insights, and provide a clear roadmap to optimize your finance function while growing Earnings Before Interest Taxes Depreciation and Amortization (EBITDA), strengthening and protecting the balance sheet, and achieving multiple expansion.
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© Copyright 2025. The views expressed herein are those of the author(s) and not necessarily the views of Ankura Consulting Group, LLC., its management, its subsidiaries, its affiliates, or its other professionals. Ankura is not a law firm and cannot provide legal advice.
