Managerial Accounting
...l system stability and promoting the safety and efficiency of the payments system. In a White Paper prepared by Amitesh K. Sinha, the financial services industry is correctly described as “rapidly changing.” Factors such as globalization, deregulation, mergers and acquisitions, competition from non-financial institutions, and technological innovation, have forced companies to re-think their business strategy. Financial services companies now have to create new revenue streams, enter new markets, gain market share, and reduce operational costs. In addition, customers' expectations are changing. They are becoming better informed and are thus more demanding in their preferences. Companies are therefore transforming their management strategy to become more customer-centered than product focused. Though these challenges are faced by the financial services industry, consumer banking, investment banking, and insurance each has its own unique demands that require different success strategies. http://www.dmreview.com/whitepaper/WID567.pdf The role of financial services within an organization will continue to evolve as the global economy advances. Most finance functions are becoming more efficient, requiring fewer management resources while increasingly closely align...