Transforming the corporate finance function

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Abstract

The article is devoted to the study of the corporate financial service transformation from a registrar of company transactions, a provider of reports to the management and an organizer of funding of the main activity to a business partner who analyzes current processes and innovation to develop joint proposals with other departments for long-term and sustainable growth, increasing profits and maximizing the company's value. The reasons for changing the role of the financial service in improving the efficiency of the entire company are determined. The assessment was carried out from the position of consumers evaluating the products produced and organizations funding company's activity.The key priority of the financial service is the generalization of all types of information sought internally and externally, the interpretation of the data obtained and the development of proposals primarily in the company's non-financial activity. Modern digital technology makes it possible to radically change the balance of time spent on routine operations and analytical work. The research results affect the creation of new value both by increasing the internal operational efficiency of the company and by implementing innovative solutions.

About the authors

Vladimir Dmitrievich Smirnov

The Financial University under the Government of the Russian Federation

Email: vdsmirnov@fa.ru

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