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.

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.

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.

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.

5 Collections Techniques to Keep Your Costs Down and Have A Customer Focus

Rachele Collins's picture

While no organization likes to admit that a certain percentage of their customer receivables may at some time become overdue, and some even become uncollectible, the reality is that it happens to most organizations. In fact, according to APQC’s Open Standards Benchmarking (OSB) Database on Accounts Receivable and Collections, the percentage of active customers that are delinquent at any time during the year ranges from 12 percent (top performers) to 20 percent (bottom performers).

4 KPIs Set Good Accounts Payable Organizations Apart

Rachele Collins's picture

A core finance process, accounts payable (AP) involves all of the essential activities of an organization to pay its suppliers. As one of the primary organizational candidates for early automation, AP is ripe for innovation through process improvement and automation. These improvements can liberate AP professionals from transactional tasks in order to best make use of their valuable time.

5 Things Best-in-class Finance Organizations Do That You Need to Borrow

Rachele Collins's picture

As many of the readers may be aware, APQC was foundational in the establishment of the Malcom Baldrige National Quality Award (MBNQA), and helped to develop the concept, criteria, funds, and ultimately secure Congressional approval for this award in 1985. Since that award’s establishment, more than 100 companies have won this prestigious award.

Building The Business Case for Financial Shared Services

Rachele Collins's picture

There are many benefits that organizations can realize by leveraging a shared services delivery model for finance transaction processing, such as increased efficiencies, reduced costs, and increased productivity. For example, consider the following efficiency and cost metrics for the overall finance function from APQC’s last finance shared services data collection conducted in conjunction with management consultancy ScottMadden:

2018’s Biggest Finance Focus: Improving General Accounting and Reporting Processes

Rachele Collins's picture

APQC recently concluded its latest financial management “trends and challenges survey”−260 midsize to large organizations from around the globe participated in the survey −and the data shows some interesting results.