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Finance: Planning for change

Posted by Paul Clutton on 20/05/2024


It’s safe to say that the last 12 months have been challenging for most organizations. With the rising challenges due to tough market conditions, supply chain issues, inflation, and other macroeconomic and geopolitical factors, it’s no surprise that most businesses have had to implement changes to remain competitive.

As a finance and technology recruitment specialist, we have seen a sharp rise in roles created to manage and effect this change.

So, what are the key elements to consider when planning for a change project?

Thorough Planning - Have a very well-thought-out project plan and well-defined timeline, clear deliverables, and know when the optimal time is to start the project.

Project Cost - Secure commitment to an appropriate budget and adequate resources.

Commitment From Leadership - Ensure that you have clear and well-communicated sponsorship from the C-suite.

Support & Buy-In From Project Teams - It’s key that whoever is managing the program is committed to the project, has clear milestones, and is accountable for delivering results and outcomes.

Understanding the Relationship Between Project Management & Change Management - Project management brings a structured process and set of deliverables to the technical side, whereas change management should focus on the people side of change.

Role Definition and Clarity - What each role requires, who will do what, and clarity around what is expected.

Understanding the Operational Impact - How will the change impact people’s roles and responsibilities? What will need to change, and have people been consulted and realigned where appropriate?

Whatever the project, businesses must understand how much of an impact a project delivery failure can have on the organization; not just in terms of time and money but also the effect on staff. Often, allocating people internally to deliver a project without prior project or change management experience may seem like the most cost-efficient option; however, this could extend timelines or result in greater long-term expenses should things not go to plan.

Savant has a broad range of Project and Change Managers with significant experience in running and delivering projects in finance and technology areas including ERP System Implementations, Finance Transformation, Restructuring, and Cost Reduction to name but a few.


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