Whether finance should be centralised

Question

Accepted Answer

Centralizing finance can improve efficiency, control, and decision-making.

Centralizing finance allows for better coordination and standardization of financial processes across the organization.
It can lead to cost savings by eliminating duplicate roles and systems.
Centralization enables better control and oversight of financial activities, reducing the risk of fraud or errors.
Consolidating financial data in one place facilitates more accurate and timely reporting and analysis.
Centralized finance teams can provide valuable insights and support strategic decision-making.
However, decentralization may be preferred in certain cases where local expertise and autonomy are crucial.
For example, in a multinational company, decentralized finance teams may be necessary to comply with local regulations and manage currency risks.
Ultimately, the decision on centralization should be based on the specific needs and goals of the organization.

Accepted Answer

Yes for uniformity and speedier execution

Popular interview questions of Lead Finance