The energy and natural resources sector must cope with many, sometimes unique issues that pose a considerable challenge for finance. These include remote and dispersed operations, tough and varied political and regulatory environments, the finite nature of exploration finds, and significant merger and acquisition activity.
This has helped to shape a narrow focus towards controllership and compliance. This report found that two-thirds of finance functions were perceived by the business as controllers and providers of management information, as opposed to business advisers.
The survey’s findings show that finance functions which have invested in standard operating models, common processes, systems and ways of working are both more efficient and have already created the space and opportunity to enhance their focus on business planning, analysis and providing insight.
