Financial intelligence

Financial intelligence that businesses can depend on

Historically, finance teams have devoted the bulk of their time and attention to ‘the basics’ — their traditional transaction processing and bookkeeping roles – and less time to the more strategic, value-adding finance activities. Finance activities can broadly be classified into three groups.

The first group of activities are finance operations. These are the most basic finance processes usually comprised of recording transactions; essentially getting the debits and credits right at the most basic level. The 2013 KPMG’s Global CFO Research estimates that most finance functions spend 50% of their time performing such activities. A majority of these activities can be automated as they require little judgement or are deterministic.

The second group of activities are aimed at financial reporting and control. These are activities that focus on weekly, monthly, annual or other regular reporting as well as activities aimed at managing or monitoring financial resources such as financial reconciliations of assets such as cash or fixed assets. It is estimated that most finance functions spend 30% of their time performing such activities.

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David Mbatha is an Associate Director with KPMG Advisory Services Limited (dmbatha@kpmg.co.ke)

About Femi Oke

Relentless passion for creativity and digital acumen to help a professional services firm thrive in the digital space. Femi is an individual with a rich experience on regional African knowledge, its diverse business culture and he understands the continent’s economic drive. He thrives on selfless service and lasting mutually beneficial relationships with colleagues and especially clients encountered in the course of his duties. He is creative, practical and self-motivated with business judgement in corporate, brand and strategic communications, social, digital & traditional media and executive profiling. Roles in the firm include New Media, Digital Communication, Corporate Communication, executive profiling and Brand Management execution. Working on the multi-million dollar Africa high growth market project stands out for femi; besides this, managing all KPMG’s digital communication for the World Economic Forum on Africa is another project that gives him great delight. Femi holds a Masters Degree in Global Marketing from the University of Liverpool.

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