You are currently viewing The bottom line

The bottom line

Stop Leaving Money on the Table

Maintenance and finance may not seem like natural “allies” in the battles for business achievement. However, they share common concerns and can both do a lot of good – albeit from behind the scenes. Financial managers, directors and CFOs are primarily concerned with company financial performance. They are often the watchdogs for regulatory compliance. They are in an excellent position to see what’s going on, and spotting problem areas, but not always what to do about them. Like all of us, their expertise only goes so far. Really good ones are far more than controllers and accountants. The good ones take a forward view of the business and contribute to its growth and health. Their perspectives go beyond accounting and merely complying with rules about reporting. Finance is good at identifying problem areas and opportunities, which part of the business could do better, and can support those who would lead the changes.

In my experience, CFOs and finance managers can be powerful agents of change and allies. We can recruit them for support in our joint quest for achieving high performance in maintenance and asset management. Follow the money – they often see problems and opportunities, but before they can really help us however, we need to help them connect the dots. Not many know the many ways and just how we contribute to corporate performance and results. Once they know what to watch for they’ll be able to keep an eye on the bigger financial picture while we go about taking care of our day-to-day work of keeping it all humming along smoothly.

The key behind maintenance contribution to financial results lies in two basic facts:

For the rest of this article, please click here:

The bottom line – what Finance managers need to know about Maintenance