How Financial Shared Services Can Reduce FTE Numbers

Mary Driscoll's picture

I recently spoke with Brad DeMent and Trey Robinson, partners in ScottMadden’s Corporate & Shared Services practice, about the benefits, challenges, and future of financial shared services. They will both be joining me for our September 25th Webinar—Finance Shared Services: New Metrics and Best Practices.

5 Lessons from Walgreen’s Financial Forecasting Blunder

Mary Driscoll's picture

The headline in The Wall Street Journal said: “Walgreen Shakeup Followed Bad Projection.” The buzz in the financial executive community was loud. The CFO at Walgreen Co., Wade Miquelon, had in April of this year told Wall Street that the nation’s largest drugstore chain would generate $8.5 billion in fiscal 2016 pharmacy-unit earnings, based partly on contracts to sell drugs under Medicare’s Part D plans. Three months later, the CFO revised his forecast down by $1.1 billion. What lessons can we gain from blunders in financial forecasting?

Going Slow Can Cost a Lot

Mary Driscoll's picture

APQC recently published an article entitled End-to-End Mapping of an Order-to-Cash Process. The idea was to illustrate the workflows in each stage of the end-to-end process as well as depict how upstream activities can have an impact—positive or negative—on the ultimate speed at which inventory is converted into cash.

Three Questions About CFO Leadership Strategies with Samuel Dergel of Stanton Chase

Mary Driscoll's picture

I recently asked Samuel Dergel, author of Guide to CFO Success: Leadership Strategies for Corporate Financial Professionals, three critical questions for CFOs. This prompted a discussion about interest in STEM talent in finance, relationship maps, and practical wisdom for business decision makers.

Why is it we are now hearing that finance is under pressure to give wisdom to business decision makers?

How Conflict Minerals Reporting Can Improve Customer Trust

Elizabeth Kaigh's picture

The deadline for filing your company’s Specialized Disclosure Report (or Form SD) and Conflict Minerals Report is looming (effectively June 2nd). The theory behind exposing human rights violations in corporate supply chains is important, but the mix of social consciousness and SEC filings is a new kind of animal for finance and compliance leadership.

Turning Enterprise Risk Management Strategy from Theory into Action

Mary Driscoll's picture

I recently spoke with Jim DeLoach, a managing director with Protiviti Inc., about enterprise risk management (ERM) and the ways in which CEOs and board members can move beyond theory and develop actionable strategies. We began the conversation by referring to a statement made by our academic adviser, Dr. Paul Walker of St. John’s University, in the preface of our new ERM report:

Why ERM Fails

Mary Driscoll's picture

APQC recently spoke to Kristina Narvaez, President & CEO of ERM Strategies, about enterprise risk management (ERM). In the interview below, she talks about several factors that tend to undermine ERM programs.

APQC: What are the essential components of an effective ERM program?

 KN: First off, I have yet to find the perfect ERM program. Some organizations have been more successful at implementing their programs than others. So, let’s consider why.

Consolidate ERPs and Boost Finance Process Efficiency

Mary Driscoll's picture

One top priority for big company CFOs this year will be to cut the costs of financial management processes. Wait! Haven’t we seen this movie already? These costs have already been slashed over the past decade. Finance managers: prepare yourselves for “The Hangover Part III.”

EPM Integration Between Finance and Supply Chain: Worth the Challenge

Elizabeth Kaigh's picture

APQC recently talked to Dean Sorensen, founder of IBP Collaborative, on the benefits and challenges of integrating sales and operations planning (S&OP) and enterprise performance management (EPM) in finance and supply chain functions.

Dean Sorensen, a management consultant, helps organizations make step-change improvements to how they plan and manage their businesses. He helps organizations share innovative and integrated planning and performance management practices and technologies that enable these improvements.

How EPM2 Creates Value and Reduces Planning Costs

Elizabeth Kaigh's picture

In this short You Tube video, Dean Sorensen explains in simple terms the incremental business capabilities provided by the next generation of enterprise performance management (EPM), which he calls EPM2. These capabilities enable organizations to achieve financial, operational, and strategic objectives that are often undermined by fragmented and siloed planning models and processes.