The Strategic Benefit Of A Finance Controller | EPSA Belgium

A finance controller performs a specialised function in a business. Regardless of your financial standing, these professionals aim to help you achieve your overall business objectives with their strategies and expertise.

A finance controller performs a range of services that include:

– Leveraging the best solutions for your business
– Supporting your outsourcing activity
– Accelerating crisis recovery

Explore the benefits of a skilled finance controller by reading our blog post.

There are a lot of words that get thrown around when it comes to business efficiency. At the end of the day, when you brush past the terminology, all you’re left with is what every business wants—to achieve its financial goals.

Despite how effortless this sounds, when it comes to actively setting out to do it, it becomes far more complex. It requires every part of your business to be geared towards the same goals and objectives.

It’s not enough to have a mission statement or targets laid out for the near future. Your company is a living, breathing organism made up of skilled individuals and a million little processes and functions (even the ones that go unnoticed).

To get all these processes, people, and operations in synchronisation is a balancing act that very few companies get right and far more get wrong.

There are risks inherent to every business move—for every one that goes right, another could go wrong.

That’s why it comes in handy to surround yourself with skilled, professional individuals who are dedicated to their work and committed to the same goals and values that are important to your company.

One of these integral roles is that of a finance controller.

As it is with most roles in the contemporary business landscape, the job of a finance controller is constantly evolving and changes depending on the nature of your business.

Despite these generalisations; however, it’s safe to say that the expertise of a finance controller can give your company’s financial strategy a much-needed boost.

A finance controller has many responsibilities spanning from budgets to the collection, analysis, and consolidation of financial data. Instating a dedicated and reliable finance controller will set the tone for your company’s financial footing and future.

Your finance controller will leverage the best solutions for your business

Your finance controller will have the expertise to implement the right solutions for your specific needs.

Leveraging these in the form of digital tools and cutting-edge technology will help streamline your finance function for greater resilience and effectiveness.

The advantage of having the expertise of a finance controller in your corner is the knowledge and experience they bring to the table and the value this allows them to add to your operations.

They support your outsourcing activity

A huge part of deciding what works for your business is identifying what isn’t working.

Identifying what isn’t working relates to obsolete processes and operations your company may be unconsciously sticking to without realising the full extent of its inefficiencies.

Outsourcing helps sever these ties by eliminating lower value-added operational activities such as reporting, analytics, business cases, and transaction management from the work you do.

Cutting off the dead weight that’s dragging your business down not only puts an end to these inefficiencies but also frees up resources and time spent on these processes, helping you allocate them to more value-added activities.

A finance controller facilitates this process.

A finance controller makes crisis recovery easier 

One thing all companies have in common, at the moment, is the need to adapt to the COVID-19 pandemic without impacting their short and long-term goals.

In order to achieve this; however, you need to adapt your operations to suit these unprecedented circumstances. This includes the careful construction of your financial strategy.

A finance controller will have the experience you need to optimise business finances and lead your business to sustainable crisis management and accelerated crisis recovery.

How can our financial experts help you supercharge your financial strategy?

Here at Kronos Group (now a part of EPSA), we have a range of solutions and services including advisory, business transformation, spend optimisation, and operations consulting services for your procurement, finance, and project financial performance business functions.

How to drive strategic objective achievement with procurement optimisation

Optimising procurement processes contributes to enhancing the efficiency, effectiveness, and overall value of an organisation. Driving strategic objective achievement by optimising procurement involves adopting technologies such as e-procurement systems to automate routine tasks, improve data accuracy, and enhance decision-making. The role of procurement optimisation in achieving strategic objectives consists of enhancing cost savings, risk management, supplier relationship management, innovation and competitiveness, adaptability, compliance, and continuous improvement. Procurement consultants can help businesses achieve these optimisations for operational excellence and enduring success.

Procurement optimisation is the strategic approach to enhance the efficiency, effectiveness, and overall value of an organisation’s procurement and operational processes. This involves a thorough evaluation and improvement of the end-to-end procurement cycle, from sourcing and vendor selection to contract management and supplier relationship development.

The primary goal is to align procurement activities with the broader strategic objectives of the organisation, emphasising cost savings, risk mitigation, and the acquisition of high-quality goods and services. Optimisation often involves leveraging technology, data analytics, and best practices to streamline workflows, improve decision-making, and foster innovation in supplier relationships.

Driving strategic objective achievement by optimising procurement

Procurement optimisation involves adopting technologies such as e-procurement systems to automate routine tasks, improve data accuracy, and enhance decision-making. It also entails implementing robust supplier relationship management strategies, fostering collaboration and ensuring a diversified and reliable supplier base.

By optimising the procurement function, organisations can position themselves to achieve cost savings, respond to market dynamics, reduce operational risks, and establish sustainable and socially responsible business practices.

The strategic importance of procurement management is often underscored by its role in driving organisational success and competitiveness in a global marketplace.

To achieve strategic objectives through optimisation in procurement, businesses can follow these key steps:

1. Align with strategic goals

Clearly define and communicate organisational objectives, ensuring procurement aligns with goals such as cost savings, risk mitigation, sustainability, and innovation.

2. Data-driven decision-making

Use data analytics to gain insights into procurement processes, analyse supplier performance, and identify improvement areas using key performance indicators (KPIs).

3. Implement advanced technologies

Embrace e-procurement and process automation to streamline tasks, enhance accuracy and allow teams to focus on strategic initiatives and objective achievement.

4. Strategic sourcing and relationship management

Implement strategic sourcing to select suppliers based on long-term value. Develop robust supplier relationships for collaboration, innovation, and reliability.

5. Cost optimisation and negotiation

Focus on cost optimisation through effective negotiation, bulk purchasing, and process efficiencies, which pushes resource allocation to be aligned with priorities.

6. Risk mitigation and resilience

Prioritise risk management by diversifying the supplier base, conducting thorough risk assessments, and implementing contingency plans for business continuity.

7. Innovation through collaboration

Foster collaborative partnerships with external stakeholders for expertise, deepening relationships, market trend awareness, and innovation in products and services.

8. Compliance and ethical sourcing

Ensure procurement processes comply with legal and ethical standards—maintaining regulatory compliance and safeguarding the organisation’s reputation and social outlook.

9. Continuous improvement

Cultivate a culture of continuous improvement by regularly evaluating and refining procurement processes, addressing inefficiencies, and adopting best practices.

10. Strategic planning

Utilise insights from procurement data for strategic decision-making. Integrate optimisation in procurement into strategic planning for broader organisational success.

The role of procurement optimisation in achieving strategic objectives 

Strategic objectives are specific, measurable goals that an organisation sets to achieve in the long term. They provide a roadmap for the organisation, guiding decision-making and actions to move the company forward.

Procurement management mainly aims at enhancing the efficiency, effectiveness, and strategic alignment of the procurement function within an organisation. An optimised procurement process features a holistic approach that aligns activities with the broader organisational objectives, delivering not just cost savings but resilience, innovation, and strategic value.

Strategic optimisation in procurement holds immense importance for organisations seeking to enhance their overall performance, competitiveness and sustainability. It enables cost reductions across the board, improved risk management practices, and enhanced innovation and sustainability measures.

Strategic alignment of procurement contributes to risk mitigation and resilience management. It involves diversifying the supplier base, conducting thorough risk assessments, and implementing contingency plans, ensuring business continuity even in the face of disruptions.

Moreover, strategic procurement enhances supplier relationship management. Building strong, collaborative partnerships with suppliers is crucial for innovation, quality improvement, and long-term success. Organisations that strategically optimise procurement processes often see improved supplier performance, increased reliability, and a higher level of innovation.

Procurement management and strategic objectives go hand in hand. Strategic objectives are integral to organisational success—offering direction, facilitating measurement, guiding resource allocation, fostering employee motivation, promoting adaptability, and enhancing competitiveness. An established procurement strategy is crucial for business processes as it tends to affect the competitiveness and potential of a business.

Strategic optimisation in procurement plays a crucial role in promoting innovation and competitiveness. By strategically collaborating with suppliers, organisations can tap into external expertise, stay abreast of market trends, and drive innovation in their products and services. Firms with advanced procurement capabilities are more likely to innovate and outperform their competitors.

Furthermore, strategic procurement offers the ability to quickly adjust strategies in response to market shifts, economic conditions, or unforeseen events. This agility is a hallmark of a well-optimised procurement function and is vital for organisations seeking a competitive edge in dynamic industries.

In terms of compliance and ethical sourcing, strategic procurement ensures that organisations adhere to legal requirements and ethical standards. This is particularly important as regulatory environments evolve, and consumers increasingly demand transparency in supply chains. Non-compliance can lead to legal issues, reputational damage, and financial penalties.

It also fosters a culture of continuous improvement within an organisation. By regularly evaluating and refining procurement processes, organisations can identify areas for enhancement, address inefficiencies, and adapt to industry best practices. This commitment to continuous improvement is essential for staying ahead in a rapidly changing business landscape.

Additionally, strategic optimisation in procurement is a critical component of overall corporate governance and strategic planning. The insights gained from procurement data and analysis can inform strategic decisions—helping organisations make informed choices about market positioning, product development, and resource allocation.

We discuss how firms are moving towards the achievement of strategic objectives through procurement optimisation, click to learn more here : Financial Performance

Invest In End-To-End Procurement Outsourcing

End-to-end procurement outsourcing is a growing industry with many businesses opting to hand over certain functions or entire departments to external parties who have the expertise to carry out those tasks.

Over the years, this has proven to be a great way for procurement outsourcing companies to add value to organisations by classifying core and non-core spend where spending is objectively analysed to determine how spending is affecting the bottom line.

To try driving the desired behaviour with performance metrics, businesses need to identify the proper metrics that can add value to their businesses and how they can be implemented.

Procurement outsourcing can also help with ascertaining domain expertise, global sourcing, and technology-related assistance that businesses may not have internally.

Over the last two decades, business process outsourcing (BPO) has taken on renewed importance and has helped organisations transform their business frameworks and how they operate.

The practice of partnering with external parties who have expertise in a particular field/s has become popular. Companies have handed over a single process or entire operations or departments to third parties.

To keep up with this growing demand, companies in the BPO industry have a firm footing in strategic areas of business such as research and development and manufacturing.

Procurement too has become a highly sought-after process to be outsourced, and outsourcing certain aspects of the function, such as managing invoices or order processing, has become commonplace. Outsourcing elements of strategic procurement like contract negotiation or supplier selection, however, have only become popular over the past decade.

For many businesses in diverse industries, end-to-end procurement outsourcing has become a success and has created value in several ways.

Classify core and non-core spend The most common way to segregate procurement spend is to separate them as direct spend and indirect spend. Procurement outsourcing generally applies to indirect spend since direct spend is strategic and needs to be managed internally.

As the procurement outsourcing industry grows and matures and the need to drive bottom-line impact in a challenging economic state such as inflation increases, outsourcing procurement may infringe on traditional direct spend areas.

Procurement outsourcing now targets spend areas via procure-to-pay (P2P) outsourcing and categories like bundled services, tail-spend management, and packaging.

Since the classification of direct vs. indirect spend makes more sense in a manufacturing set-up it may not be relevant to service-oriented sectors, such as hospitality, telecom, and financial services. As a result, it makes much more sense to classify spend as core vs. non-core over direct vs. indirect.

This classification gives organisations an in-depth understanding of their spending patterns and how they potentially add value or decrease value. With procurement outsourcing specialists being objective parties, they are in a much better position to identify the areas that are creating the most value and those that are not.

Drive the desired behaviour with performance metrics Today, there is a broader awareness of performance metrics and service level agreements (SLAs) in end-to-end procurement outsourcing, but gaps still exist in selecting the right metrics based on the processes that are being monitored. In an ideal situation, the buyer should select outcome-based SLAs such as unit price reduction, vendor rationalisation, and working capital improvement.

This is why the need to take a balanced scorecard approach to focus on key outcomes or parameters is vital. There are many metrics out there that typically promote non-productivity that may not create value for the buyer.

For instance, let us look at the metrics which focus on cost savings. These metrics may disincentivise service providers from assisting in areas where prices are rising. Service providers have the opportunity to help their clients avoid price hikes, but if the metrics are focused only on unit cost reduction, these efforts may not be fully rewarded.

Buyers and service providers must have a clear idea about the factors that lead to savings to ensure that there is no confusion.

Ascertain domain expertise, global sourcing, and technology Having the right domain expertise is a key value driver in procurement outsourcing. Buyers should always select service providers depending on their domain expertise based on the categories and processes employed by the buyer. There are some areas, however, that are frequently overlooked when it comes to successful procurement outsourcing—global sourcing and technology.

The level of global sourcing in procurement outsourcing is limited compared to other outsourcing segments, but there is a lot of value that can be derived from leveraging a strong global sourcing model.

There are several components to the source-to-contract (S2C) function such as request-for-proposal (RFP) analysis, spend analysis, and demand management analytics that are driven from offshore locations with a low cost.

Businesses have a habit of under-investing in procurement technology especially when it comes to non-core spending. Creating value requires strong technical support that can be provided with the right procurement expertise.

Businesses can utilise the expertise of their procurement outsourcing partners to properly utilise the tools and technology platforms offered by service providers and achieve value without making a significant capital investment.

Create value with end-to-end procurement outsourcing Outsourcing strategic procurement functions can allow organisations to access expertise and capabilities that are lacking in their in-house setup.

To gain the maximum benefits that outsourcing firms have to offer, however, there must be a clear understanding of how your business can benefit from the services offered.

Supply chains are also in dire need of the right guidance considering that many are still trying to recover from the aftermath of a global pandemic while navigating the current inflationary markets.

The right procurement cost optimisation consulting partner can help you create value with the right approach and develop a clear strategy that focuses on short and long-term growth along with any contingency plans for potential crisis scenarios.

How do procurement consulting providers facilitate personalisation through maturity assessments?

Procurement consulting is crucial for companies to enhance their supply chain, reduce costs, and optimise efficiency. Consultants navigate businesses through complex areas like supplier partnerships, contract management, and strategic sourcing to establish streamlined and cost-effective processes that align with company objectives. 

The importance of understanding procurement maturity assessment is apparent in this context as it is a valuable tool for consultants to evaluate a company’s procurement capabilities and processes. They aid in identifying strengths, weaknesses, and areas for improvement. These assessments help consulting providers tailor their guidance to each client’s organisational function, offering more personalised strategies. In addition, through comprehensive data analysis, these assessments enhance decision-making abilities.

Procurement consulting providers develop personalised strategies based on maturity assessment results by analysing assessment data and identifying improvement opportunities. They create customised recommendations that align with business objectives and develop implementation roadmaps. Additionally, they incorporate client feedback, offer ongoing support for strategy execution, and ensure successful implementation through continuous assistance. Strategies consulting providers develop focus on specific organisational needs and maturity levels, helping organisations progress towards efficiency, effectiveness, and strategic value in their purchasing practices.

Procurement consulting plays a role in helping companies enhance their supply chain, reduce costs, and improve efficiency. This involves guiding businesses through the complexities of procurement, supplier partnerships, contract management, and strategic sourcing. The ultimate goal is to establish a streamlined and cost-effective procurement process that aligns with the organisation’s objectives

Since every business is unique, procurement consultants need to customise their approach based on the specific needs, industry, and level of maturity of each client. Maturity assessments are valuable tools that allow organisations to evaluate their current procurement processes, technology, and capabilities. By conducting these assessments, procurement consulting can tailor guidance and strategies to the client’s procurement journey. This customisation ensures that clients receive relevant and effective advice to drive tangible improvements in their procurement practices.

What is the importance of understanding procurement maturity assessments? 

A procurement maturity assessment is a measuring instrument that gauges the present abilities and procedures of an organisation’s procurement function. It monitors the elements of procurement processes, their productivity, and overall impact. The main purpose of this assessment is to find where improvements can be made and to guide strategic suggestions based on the results.

It assesses the following areas:

1. Processes and procedures

The structure, regularity, and effectiveness of procurement procedures like sourcing, managing contracts, and maintaining connections with suppliers.

2. Technology and automation

This relates to how much technology is used in procurement processes, such as the adoption of e-procurement systems, process automation, and data analysis.

3. Organisation and governance

This is about how procurement aligns with the wider strategic objectives, governance systems, and procurement responsibilities.

4. Supplier management

A maturity assessment can handle the approach to managing supplier relationships, including supplier selection, performance monitoring, and collaboration.

5. Risk management and compliance

The processes that are applied for recognising, evaluating, and lowering sourcing risks along with adherence to relevant regulations, benchmarks, contingent plans and standards.

The strategic focus of procurement is on how much it helps to achieve business goals, such as cost optimisation, innovation, sustainability, and value creation. Procurement consulting providers can identify a client’s position in their procurement journey by performing a maturity assessment, spanning from preliminary stages to advanced stages.

This comprehension empowers them to suggest customised resolutions and methodologies, gravitating an organisation towards elevated levels of maturity.

How do procurement consulting providers develop personalised strategies based on maturity assessment results? 

Upon receiving the results of a maturity assessment, consulting providers can leverage their insights to construct customised procurement strategies that align with the unique needs, obstacles, and organisational goals.

Analysing assessment data

The consultation process commences with the analysis of data gathered during the maturity assessment. This entails examining processes, technologies, organisational frameworks, supplier associations, adherence to regulations, and strategic compatibility. By comprehending the existing condition and identifying shortcomings, consultants can give precedence to areas in need of process enhancement and refinement.

Identifying client-specific opportunities

After evaluating the assessment results, consultants discern particular prospects for enhancement. This can encompass enhancing procedures and implementing new technology to manage risk and optimise suppliers.

Customised recommendations

After identifying the key opportunities, consulting providers can work on formulating personalised recommendations that cater to the client’s level of maturity, industry context, business objectives, and capabilities.

Aligning with business strategic objectives

Consulting providers guarantee that their customised tactics correspond with the broader business objectives of their clients. This is essential, as procurement must aid in achieving the organisation’s strategic goals, whether it be through minimising expenses, increasing efficiency, fostering creativity, or promoting sustainability and other strategic objectives.

Developing a roadmap for implementation

In addition to customising suggestions and feedback on procurement processes, consulting can devise a comprehensive execution plan. This blueprint encompasses precise measures, schedules, accountable stakeholder groups, and benchmarks to gauge efficacy. By solidifying the implementation procedure, they facilitate the actions required to attain their desired results.

Incorporating client feedback

To guarantee the utmost personalisation of strategies, consulting providers actively solicit feedback from their clients. This cooperative and collaborative method enables them to improve recommendations, address apprehensions and ensure alignment between the strategies and the client’s vision, mission, objectives and values.

Providing ongoing support and monitoring

Procurement consulting frequently provides continual assistance in implementing personalised strategies, including training, change management, performance monitoring, and periodic check-ins for progress tracking and procurement modifications.

Consulting providers devise personalised tactics through a thorough analysis of assessment data, customising suggestions, synchronising processes with business objectives, crafting a comprehensive roadmap, incorporating client input, and offering continuous assistance. This method guarantees that the strategies cater to the client’s distinct requirements and yield notable enhancements in procurement and cost optimisation performance.

The importance of change management in digitalisation projects

Faster processes, smarter decision-making, better collaboration, cleaner data. The list is long, and for most organisations the business case is convincing. Whether you are rolling out a new procurement platform, upgrading your finance tools, or introducing automated workflows, digitalisation looks like the obvious path to higher performance.

So why do so many transformation projects struggle to deliver their expected value?

Because technology alone cannot transform a company. People do.

And that is exactly where change management becomes the hidden engine behind successful digitalisation.

Digital transformation is not a software project

Most digitalisation journeys begin with strong enthusiasm. A powerful platform is selected, implementation partners get to work, and processes start shifting towards a sleek digital future.

Then reality hits.

Teams fall back into old habits. Adoption lags. Parallel spreadsheets reappear. Workflows are partially used or misused. The tool exists, but the transformation doesn’t.

It happens when the project is treated as an IT exercise rather than a people-driven change. Digitalisation affects roles, behaviours, responsibilities and even company culture. Ignoring that human complexity leads to underused systems and results that fall short of expectations.

We have seen this up close. In one project, a group of users resisted the new workflow during the initial roll-out. By involving them in workshops and showing how the tool simplified their daily tasks, the resistance faded and engagement rose quickly. In another eProcurement implementation, we discovered that several buyers were still preparing sourcing events in Excel out of habit. With targeted, hands-on support, they shifted to the platform smoothly and adoption reached full use within the first month after go-live.

These moments illustrate a simple truth: technology can only succeed when people feel equipped, involved and supported.

Why change management matters

Change management is the discipline that turns a digital project into a working reality. It creates the conditions that allow tools to be adopted, processes to be embedded, and benefits to be sustained.

Here is why it is essential:

1. It aligns people around a shared purpose

Digitalisation disrupts routines. Employees want to know why changes are happening, how it affects their work, and what benefits they can expect. Clear communication and early involvement remove uncertainty and build momentum.

2. It supports adoption from day one

A system creates value only when it is used consistently and correctly. Training, role-specific onboarding, and continuous support help teams feel confident and capable. Confidence drives adoption, and adoption drives impact.

3. It reduces resistance and accelerates improvement

Resistance is natural, especially when workflows or responsibilities shift. Change management provides space to address concerns, gather feedback, and refine the roll-out. This avoids slowdowns and helps improvements land faster.

4. It embeds new behaviours into the organisation

Digitalisation is not a one-time switch. It requires new habits: logging data, following workflows, analysing dashboards, collaborating through the tool. Change management reinforces these behaviours so they become part of the everyday rhythm.

5. It ensures long-term value creation

Without strong change management, companies end up with impressive platforms that operate at a fraction of their potential. When adoption is strong and processes are aligned, digital tools evolve with the organisation and continue to deliver measurable value over time.

Technology is powerful, but people make it work

Digital transformation is one of the most impactful investments a company can make. It boosts efficiency, strengthens resilience, and enables smarter decision-making. Yet none of that happens by accident. Change management turns digital tools into business results. It creates clarity, reduces friction, supports people, and ensures that the organisation grows alongside the technology. 

If digitalisation is on your agenda, and you want it to deliver long-term value, make change management a core part of your approach. It is the bridge between a promising tool and a truly transformed organisation. Want more insights on procurement, finance, cost optimisation and digital transformation?