A well-structured finance function is more than a back-office necessity – it’s a strategic asset. Yet many businesses operate with outdated systems, unclear roles, and reactive reporting that quietly expose them to serious risks.

Chris King and Cameron Woodcroft from our Corporate Advisory team have seen it firsthand: neglected finance functions can lead to poor decision-making, cash flow surprises, regulatory noncompliance, and stakeholder distrust. These issues often stem from mismatched skill sets, inefficient processes, and a lack of clarity between governance and management roles.

If you’re a business owner, you don’t need to be a finance expert to know when something’s off. But you do need the appropriate skills fulfilling the required roles, with efficient and effective systems and processes behind you. And if you’re an advisor, helping your clients get this right can be the difference between risk and resilience.

So what does a strong finance function look like?

✔️ It starts with clearly defined roles – knowing whether your business needs a CFO, financial controller, bookkeeper or other relevant finance role.
✔️ It also means investing in integrated systems, timely and accurate reporting, providing information to allow operational personnel to make informed decisions, and a culture of accountability and trust.

Businesses that get this right not only reduce risk but unlock operational efficiency and strategic agility.

The importance of understanding your financials

Having visibility of financials is essential for any business. According to the ABS, 46% of Australian businesses reported rising operating expenses in 2025, while 41% faced ongoing supply chain disruptions. Without timely and accurate financial data, navigating these pressures becomes guesswork.

Spot the gaps in your finance function

To help organisations assess their current setup, Pilot Partners has developed a Finance Function Health Check Checklist – a practical tool that outlines warning signs and traits of high-performing finance teams. This is ideal for internal use and can spark meaningful conversations about structure, capability, and improvement.

Learn more

If you’d like to discuss your finance function or explore how to strengthen it, contact Chris King, Cameron Woodcroft or your Pilot advisor on (07) 3023 1300

To discover how to turn your finance function into a strategic advantage, view our webinar here.