Let us Handle the legwork in your financial transformation journey

Can finance organizations be lean and smart at the same time? Yes!  A growing number of organizations are streamlining and automating financial management processes to transform their finance function from one that merely reports on the past, to one that works with the business to plan for the future. Don’t waste time reinventing the wheel. Transform your finance group into a lean and smart strategy enabler. APQC has already done the work for you.


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Start With a Strong Foundation

Process Frameworks

Financial improvement programs begin at the proverbial beginning: mapping current processes and/or systems to a process framework such as APQC’s Process Classification Framework (PCF) to get a clearer view of what work is currently performed by whom, where, and when. APQC's Process Classification Framework®(PCF) is the most used process framework in the world. It creates a common language for organizations to communicate and define work processes comprehensively and without redundancies. Organizations are using it to support benchmarking, manage content, and perform other important performance management activities.

Identify Performance Gaps

Benchmarks and Metrics

We all know that you can't improve what you don't measure. The point is to figure out where you stand, what cost and effort is required, and whether it makes economic sense to invest in enhancing various elements of the work streams. APQC members have a major advantage here, the Open Standards Benchmarking® portal. Learn exactly where your business processes stack up against the competition using comprehensive assessments that provide insight into your key organizational processes to help identify performance gaps. APQC recognizes several example KPIs as essential indicators of performance that organizations should use in assessing AR cost effectiveness, staff productivity, process efficiency, and cycle time:
  • Cycle time in days to generate complete and correct billing data
  • Number of FTEs to process customer invoices per $1 billion in revenue
  • Number of invoice line items processed per FTE performing customer invoicing
  • Personnel costs to perform AR as a percentage of total process cost
  • Total cost to perform AR per process FTE 
 

Plan and Deliver Effective Change

People and Systems

Experts in finance transformation warn that the first, large hurdles to be jumped involve systems integration, process standardization and staff training. Check out some of APQC's latest research to find out better ways to address accounting's need for new knowledge and analytical tools, increased staff productivity and systems harmonization.