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.

6 Ways to Improve Cash-to-Cash Cycle Time

Rachele Collins's picture

Evey month APQC drills down on a financial management metric to help readers better measure, manage, and improve their finance functions.

This month’s metric, based on data from APQC’s Open Standards Benchmarking, considers the metric Cash-to-Cash Cycle Time (as originally discussed by my colleague Marisa Brown in CFO.com).

A Proven Formula for Employee Engagement and Retention

Rachele Collins's picture

Thanksgiving is a time for appreciation of one’s blessings and for reflection. As I reflect back on 2017, I am incredibly thankful for my faith, my family, and my friends in this challenging year. I am also thankful for my work and for my career at an organization where I will celebrate 18 years of tenure in January.

A Proven Approach for Developing Knowledge Management Strategy for 2018 and Beyond

Rachele Collins's picture

Welcome to Fall and the Season of Strategic Planning! If your organization is like ours, you may be in the midst of meetings to reflect upon the past year and evaluate organizational performance, as well as planning sessions for a successful 2018.

How Smart Organizations Set Up Successful Work From Home Programs

Rachele Collins's picture

As I write this blog (from the local Starbucks), many parts of APQC’s hometown of Houston are still working to recover from Hurricane Harvey, an incredibly destructive Category 4 storm that hit Texas and Louisiana in late August 2017. This storm was considered a flood disaster, dumping a total of between 40 and 50 inches of rain in southeast Texas, and inundating many parts of Houston that had never flooded before.

What Generation X Wants from the Workspace of the Future

Rachele Collins's picture

Due to their sheer volume in the workplace, we are constantly bombarded with information and analysis about what the Millennial generation (born in the early 1980’s to the late 1990’s) desires in terms of workplace expectations, office environment, norms, and culture. However, there are at least two other generations (Baby Boomers, born in the mid 1940’s to the mid 1960’s; and Generation X, born in the mid 1960’s to early 1980’s) in the workplace today that are largely ignored in terms of all of the attention and hype, but still nonetheless important.