A useful process for assessing the state and efficacy of an aspect of your business is to create a maturity map. This helps you to understand how you are addressing a problem, and identify how you can make improvements.
Maturity mapping can and has been applied to many aspects of a business. Accounting for Sustainability (A4S), established by HRH the Prince of Wales in 2004, provide freely accessible maturity map templates that cover the following, but that can be adapted to suit your needs.
- Managing future uncertainty
- Finance culture
- Strategic planning, Budgeting and Forecasting
- Management information
- CAPEX
- Natural capital accounting
- Social and human capital accounting
- Enhancing investor engagement
- Debt finance
- TCFD – The Task Force on Climate-Related Financial Disclosures
You can access these resources here.
These resources, along with other support available through the A4S website, are designed to support finance teams specifically with regard to achieving financial sustainability.
If you would like to know more about maturity mapping and how you can apply these tools to your business don’t hesitate to get in touch.
