Benchmarking the transformation of a finance function: longitudinal evidence from a diagnostic HPFF framework

Purpose This paper examines how the HPFF framework, used as a diagnostic benchmark, supported transformation and sustained improvement in Vesteda's Finance and Control function. Design/methodology/approach A longitudinal single-case study (2020–2024) combined two full-population HPFF assessments, a department-wide workshop, seven interviews, documents, operational KPIs, field engagement and member checking. Template-informed thematic analysis was supplemented by alternative thresholds, seven leave-one-interview-out checks and a management/coordination–staff comparison. The 2025 KPIs were treated only as post-period evidence. Findings Vesteda's overall HPFF score rose from 5.2 to 7.0, and all 28 characteristics improved. IT Focus accounted for 22.6% of factor-level movement and was associated with ERP stabilization, broader system use, Power BI and automation. The evidence supports five phases: baseline creation, gap visibility, action translation, operational embedding and adaptive re-anchoring. Threshold checks indicate broad improvement but not attainment of the 8.5 reference profile; all phases remained supported in every leave-one-out run. Management/coordination and staff accounts converged on improved collaboration, role clarity, digital enablement and process discipline, but differed in emphasis. The main sustainability problem was that factor-based steering lost day-to-day usefulness as improvement capacity and local ownership weakened. Originality/value The study shows how the actionability of a function-specific diagnostic benchmark is constructed and renewed. It identifies adaptive re-anchoring - the shift to locally owned initiatives while retaining the benchmark as a periodic reference - as a condition for sustained improvement.