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Digital Finance Function Model (DFFM)

Generation CFO’s new unifying framework

The increase in new business models and technologies has dramatically changed the environment in which accountants and finance operate, but the way in which accountancy is taught, understood and operates has not really changed. This is not sustainable. We need a new unifying framework as a reference for what finance has become.

The Digital Finance Function Model fuses digital and classic accounting and finance into one future-facing framework. This informs finance’s remit, required competencies and organisational design. DFFM redefines accounting and finance in the digital age.

Watch the video to find out more.

strategy

Strategy

planning

Planning

analysis

Analysis

execution

Execution

CFOs need to adopt a new model to bring traditional finance and digital finance together. The DFF Model is divided into four parts with ten elements.

1

Digital Finance Function Strategy

How is finance going to help deliver on the business strategy?

2

Business Partnering Engagement

Are we adequately aligned with the business and capable of succeeding in this business?

3

Business Asset Insight

Who are our stakeholders and what are their needs and expectations?

4

Importance & Value

Why should we invest? What unique value are we providing?

5

Collaborative Moderisation

How does the opportunity break down and which ones do we go after?

6

Ability

How will we create these products and services, and how will we mobilise?

7

Intelligent Automation

Which business process should we optimise, how do we automate them and how do continue to improve performance?

8

Data Visualisation

What does the business need from data and how do we visualise it effectively?

9

Data Analytics

How can we improve business decision making and performance, how do we accelerate this value chain?

10

Data & Governance

What data do we need to support finance, how can we create value from data and technology?  Who will own data and lead digital finance?

Listen to the Podcast

Generation CFO founder Chris Argent explains how GENCFO came to be the #1 place for digital finance function learning, and how it can help you inform the role and remit of the finance function within your business.