Too many finance organizations are blowing their budgets to pay armies of people to do low-level work inefficiently.
How can a CFO maximize the use of every finance team member’s time and talents?
When you take 10 days to fix a payroll error, it can feel like an eternity to the employee who needs the money to pay her bills.
Not only do the top-performing financial shared services centers process more invoices and receipts with fewer people, those people accomplish much more.
Top-performing organizations spend just one quarter of what the poorest-performing organizations spend on total process cost.
If your organization’s line-unit managers are flying by the seat of their pants when it comes to cost control, it’s time to step in.
Whether yours is a $20 million or $20 billion firm, people are depending on you to ensure that the books are not just squeaky clean, but also transparent.
If CFOs get the personnel cost forecast wrong, the ripple effect is felt throughout the organization.
The best performers need just 4.8 full-time employees per $1 billion in revenue to perform the general accounting function.
Three out of four CFOs now have process improvement initiatives underway.
The top 25% of companies can finish the cycle of completing quarterly financials to the release of earnings per share in 12 days or less.
CFOs are skeptical about claims that process automation is the cure-all for excessive costs of the finance function.
