Why try to improve what you can eliminate in finance?

Rachele Collins's picture

APQC is engaged in current and ongoing research on planning, budgeting, and forecasting through our Open Standards Benchmarking Survey on Planning and Management Accounting.

4 Reasons Not to Fear Robotic Process Automation

Lochlyn Morgan's picture

Robotic process automation (RPA) has quickly become inevitable. In March of 2018, APQC interviewed Tilak Banerjee, a director at Dell-EMC, on RPA: “When we started in 2015, RPA was more or less a new concept in the shared services industry,” said Banerjee.

The Benefits of Automating your Invoicing and Accounts Receivable Processes

Rachele Collins's picture

Invoicing and accounts receivable (AR) are core finance transactional processes that lie at the heart of an organization’s liquidity and working capital management. These two processes are flip sides of the same coin, with invoicing encompassing the activities involved in billing customers for goods and services received, and AR including the activities for processing and applying customer remittances and associated policies and accounting.

Three Keys to Successful Finance Process Management at Cargill

Rachele Collins's picture

Business process management is a proven operating model to help organizations reduce variability, increase standardization, and improve process performance. APQC recently interviewed the Global Credit-to-Cash Process Owner at Minnesota-based Cargill Inc., a multinational food, agriculture, nutrition, and risk management company. Prompted by a major reorganization, the finance function at Cargill centralized its operations to leverage a process focus and redesigned its service model in terms of people, processes, data, and technology.

Stop Accepting Budget Rework--It Is Time to Fix a Broken Process

Steve Player's picture

APQC published its recent Metric of the Month examining the number of budget versions before final approval. It discusses ways organizations organize their budgeting practices to minimize the number of versions needed to get one that is finally ready to send forward for Board approval. When evaluating the key metrics for finance organizations, tracking the number of budget versions has always perplexed me.

5 Ways To Improve Accounts Receivable

Rachele Collins's picture

Accounts receivable (AR) is a core finance transactional process that lies at the heart of an organization’s liquidity and working capital management. APQC takes a process-based view in order to facilitate benchmarking and process improvement, and defines the AR process as all of the important activities to receive and apply cash from customers for goods and services, including establishing AR policies, receiving and depositing customer payments, applying cash remittances, preparing AR reports, and posting AR activity to the general ledger.

When Should You Write-off Rather Than Continue Trying to Collect

Steve Player's picture

CFO Magazine's July 2018 Metric of the Month: Uncollectible Balances, by APQC’s CFO Perry D. Wiggins discusses various collection practices associated with Top Performers under the metric of “Total Uncollectible Balances as a Percent of Revenue,” which is part of APQC’s Customer Credit and Invoicing Open Standards Benchmarking survey.

How to Develop Critical New Finance Competencies

Rachele Collins's picture

More and more, APQC is hearing talk of “the rise of the analytics competency” and the importance of finance professionals to develop knowledge, skills, and competencies not only in their operational finance areas (accounting, planning, auditing, internal controls, etc.), but also in analytics and data science.

The IRS has Mastered Accounts Receivable...and You Can Too!

Michael Sims's picture

Would you rather owe someone money or have someone owe you money? Maybe it’s just me, but I think both of these options are fairly uncomfortable. But, in the business world, owing and being owed money comes with the territory. And in no case is this truer than in that of the ultimate ower (and, much more often, owee) of money: the US Internal Revenue Service (IRS).

5 Ways To Consider Your Invoicing Beyond Just Cost

Steve Player's picture

My colleague, Perry D. Wiggins (CFO of APQC), recently has released the June 2018 Metric of the Month on CFO.com. It focuses on the “Cost to Invoice Customers” noting a range of $2.00 for top performers up to $9.00 for bottom performers with a mid-point of $3.94. This is quite a range when you consider the thousands and thousands of invoices sent each year by each company.