Speedy Financial Closers Continuously Improve by Aligning Process and Technology

Elizabeth Kaigh's picture

In the chart below, we see that companies that prepare and file their quarterly statements in 10 or fewer days are top performers. Accounting close expert Gabe Zubizarreta presents an interesting nuance to this information: the very fastest companies actually spend 50 percent less than their bottom-performing counterparts.

cycle time between completion of quarterly consolidated financial statements and release of earnings

In Finance, Big Data has Big Potential (and Potential for Big Disasters)

Mary Driscoll's picture

In this day and age, a company has to know—and not guess at—the ways in which non-financial factors impact financial results. And business leaders need finance teams, with their vast and natural analytical skills, to help them compete on facts and develop highly educated views on cause-and-effect scenarios.

For example: “If we bundle products and services in various ways and model various pricing options, what can we reasonably expect in terms of (a) customer retention, (b) increased revenue, and (c) impact on margin targets?”

Collaboration for Process Improvement: Getting It Together

Holly Lyke-Ho-Gland's picture

How often do we start something only to discover we have to go back to square one because we overlooked an important stakeholder?

Financial Management Spotlight: In Lean Management System, CFO Must Focus on Spending, Not Cost

Elizabeth Kaigh's picture

APQC recently interviewed Nick Katko, Senior Consultant with BMA Inc., about the challenges a CFO faces when a company decides to use a Lean management system.

Why and How Often to Benchmark Finance

Mary Driscoll's picture

The cost of finance operations at the typical large company has been cut in half over the past decade. CFOs got what they wanted: talented and dedicated people doing more with less, and those with a knack for stats polishing their analytical contributions. So, I got to wondering: what’s behind the recent mini-surge in core financial management (FM) process benchmarking?

Houston Astros and Predictive Analytics: What Team Profitability Can Tell Us About Its Future

Elizabeth Kaigh's picture

In the wake of Forbesreport on the profitability of the Houston Astros, team owner Jim Crane released a statement avowing that the team’s management is fiscally responsible (this despite soaring profits accompanied by the

Three Reasons to Use Fewer FTEs in T&E Expense Reimbursement

Elizabeth Kaigh's picture

Organizations that use fewer full-time equivalents (FTEs) to process travel and entertainment (T&E) reimbursements are ahead of the curve. 

By using best practices such as automation and shared services centers, top-performing organizations require a fraction of the FTEs for the expense reimbursement process compared to their bottom-performing[1] peers. Those organizations have:

Using Maintenance Management Software

Andrea Stroud's picture

Many organizations have adopted computerized maintenance management system (CMMS) software, enterprise asset management (EAM) software, and enterprise resource planning (ERP) software to help improve daily working capital transactions.

Top Four Reasons to Leave Annual Budgeting Behind

Elizabeth Kaigh's picture

This time of year marks the beginning of the dreaded budgeting season for many finance organizations. The drill requires organizations to go through a ham-fisted process that has business unit managers guessing at revenue growth, costs, and spending patterns for 2014. But today’s finance leaders are growing wary of performing this exercise when they know its applicability will grow stale fast.  Specifically, they are getting tired of having to reconfigure the original plan every time a business condition emerges that voids original budget assumptions.