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Stop Accepting Budget Rework--It Is Time to Fix a Broken Process
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…
When Should You Write-off Rather Than Continue Trying to Collect
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…
5 Ways To Consider Your Invoicing Beyond Just Cost
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…
Using May’s Metric of the Month – Days Sales Outstanding - to focus on value
CFO Magazine’s May Metric of the Month column (authored by my colleague, Perry D. Wiggins) discusses Days Sales Outstanding (DSO) with an excellent analogy to scuba diving. I highly recommend that column as Perry provides many useful ideas you can immediately use to improve DSO. Perry also…
Four Reasons Shared Services Don’t Deliver in Finance
My colleague, Perry D. Wiggins, has recently authored another entry in CFO Magazine’s Metric of the Month column discussing Shared Services. In serving as the CFO for the APQC and in the many finance leadership roles in industry that Perry had before joining the APQC, he has seen many of these…
How Finance Organizations Can Have Even Faster Cycle Time to Close
In the CFO Magazine’s 2018 Metric of the Month article, APQC’s CFO Perry D. Wiggins shares how top performing finance organizations are dramatically faster on the cycle time to monthly close. They are achieving these gains by better data governance, common data definitions, and standardized charts…
How to Leverage Finance Metrics in Your Organization
Recently we worked with the leader of a large accounts payables group who had been asked by his CFO to comment on how their shared services accounts payable group matched up to benchmarks. In helping him answer that question we identified some very important principles to keep in mind when using…