It’s all about the data
“One of my key responsibilities, across the business and specifically in relation to the finance team, was to manage financial risk; to make sure knowledge within the team was spread around and not sat with only one person, reducing the risk to the firm and enabling the wider team – not just a few – to cope with curveballs. Albeit we didn’t envisage the curveballs would be quite as big as this one turned out to be!” she says.
One of the biggest impacts for the finance function during the COVID crisis has been a change in the team’s work and priorities. With senior financial management focusing on the firm’s strategic response, the wider finance team has had to pick up more of the senior business-as-usual (BAU) tasks. There have also been more demands placed on analytics support to provide the data to inform strategic business decision-making, an embryonic role within the business.
“We had been developing our analytics and reporting functions anyway, but that’s been significantly accelerated in the last three months. There is much more emphasis around capacity management, costs, profitability. Accessing and interpreting the data has probably been one of our biggest challenges,” says Amanda.