Nov 21, 2022

Barco's finance functions are certified “future proof”

awards 1 min read

Barco is the first company in Belgium to receive certification for a future proof finance function. The certificate is the validation of the successful completion of an exhaustive assessment covering all aspects of the finance functions.

The idea of assessing and certifying finance functions is an initiative of the publisher Financial Media (also publisher of CFO Magazine), Deloitte and Tilburg University – Tias.

"We initially wanted to develop a management tool that gives the CFO objective feedback on the implemented financial policy and processes and provides tools to optimize," says Peter De Roeck, managing partner of Financial Media

Deep assessment

"The assessment goes deep and covers all aspects of the finance function," adds Tom Vancauwenberge, responsible partner at Deloitte. The result is a report where the CFO gets a clear overview of the finance function with a list of possible points for improvement.

Veronique Feys, VP corporate finance at Barco coordinated the entire exercise. "Within a period of 2 weeks we were ready for the first workshop. In itself, this is already very instructive because the assessors dig through the answers and already start a substantive discussion." The outcome is then assessed by a panel of analysts, professors, and business leaders.

Ann Desender, CFO of Barco is particularly proud of the result. "For us, the certificate really feels like a quality label. This recognition is highly appreciated by everyone in the company. But more importantly, everyone gets new insights and challenges to address."

For details about this initiative, visit https://www.thefutureoffinance.be/

“Very proud of this quality label 'Future Proof Finance Function'. Glad to have been able to participate in this process, where we will continue to work with the insights obtained."

- Ann Desender

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