Shared Services

by   |    |   2 minutes  |  in Finance

The concept of shared service centers has been around for a number of years now. But now that they are common, what is the next step to driving out cost from your business? In my post on how to make shared services work for you, I commented that most organizations that are considering shared services…

Read more

accounts.jpg

by   |    |   2 minutes  |  in Finance

Do you know where every number in your financial reports comes from? One of the underlying requirements of finance is to put controls around the transaction to report processes. This is often referred to as R2R or Record-to-Report. There are all sorts of qualitative measures we can put around reporting (accessible, timely and accurate just…

Read more

Business

by   |    |   2 minutes  |  in Finance

The short answer is – you hope you have some idea! So how are you driving out your corporate risk? No one wants to be in the spotlight like Tesco was last week, announcing that they had overstated profits by £250 million. Without having good risk and governance tools in place, this type of problem…

Read more

Glocalization

by   |    |   2 minutes  |  in Finance

The tailoring of a product to local requirements, by a global (or at least globally aspiring) organization. Glocalization is the tailoring of a product to local requirements, by a global (or at least globally aspiring) organization. Everyone prefers something that has been made especially for you, rather than a copy of what someone else already…

Read more

Shared Services

by   |    |   2 minutes  |  in Finance

We’ve all heard the mantra of ‘reduce cost by using shared services.’ The real question, though, is what activities are worth moving and what should you expect to gain? Most organizations that are considering shared services look at administrative functions to start with. Areas like Accounts Payable, Treasury or even the entire Finance function. The…

Read more

smaller dollar

by   |    |   2 minutes  |  in Finance

Transfer pricing and tax planning have been in the media a lot lately as details emerge of how companies like Amazon, Google, Vodaphone and GlaxoSmithKline proactively limit their tax liabilities by shifting revenue and expenditures across international boundaries. We are told that every organization that can, is managing where their profits are deemed taxable. Repeatedly,…

Read more

Business 2

by   |    |   3 minutes  |  in Finance

The concept of planning is central to business. Everything from production runs to capital construction projects to customer acquisition campaigns have plans associated with them. A budget is, simply put, a financial plan. So just like other areas, a budget is there to help us run the business more easily and efficiently by making important…

Read more

chart

by   |    |   4 minutes  |  in Finance

Finance executives are feeling tremendous pressure to drive down business costs while maintaining an acceptable level of quality and performance. In order to meet this challenge, finance leaders need three things. Access to accurate business data Tools to translate this data into actionable insights The authority to drive change The last point, authority to drive…

Read more