Monthly Archives: November 2020
CFO Magazine: Technical Accounting: The CFO’s Secret Weapon
“Sophisticated CFOs not only understand the value of technical accountants to accurately account for decisions made, they partner with them to provide proactive guidance for the decisions yet to be made. Here, accounting can drive desired financial outcomes, while navigating away from the unanticipated, but all too common, accounting accidents.” Read More at CFO Magazine […]
Automation World: Practical Advice to Increase Manufacturing Profitability
“With small and mid-size manufacturers, there is a tremendous need for accountants to move beyond financial reporting and budgeting for control to help every area of the business understand and improve the monetary impact of operations on profitability—whether it is in manufacturing, warehousing, marketing/sales, or personnel. The function most often missing from the accounting repertoire […]
SF Magazine: Tech Trends to Watch
“The rate of change in technology today is exponential. The future will only get faster. Faster, better, and cheaper technology solutions will always be there to distract you. Resist the temptation and the hype; this helps you avoid the trap of buying new technologies because “everyone else is doing it.” Not only can it be […]
CFO Dive: 4 cost management mistakes for CFOs to avoid in 2021
Gartner analysts highlighted four of the most common mistakes CFOs make as they narrow their focus on cost optimization amid a prolonged economic downturn: Making blanket cuts with unrealistic targets Failing to sustain behavior change Slowing down the organization Choking off innovation Read More at CFO Dive >
CFO Journal: Medtronic CFO: The Role of Finance in Crisis Response
Finance plays a crucial role. Along with the CEO and our business unit leaders, our global finance organization is a strategic partner in developing and ensuring strong execution against our longer-term strategy. Strategy needs to be tied closely to investments, financial planning, and forecasting, so our finance teams have a natural connection to strategic planning […]
Industry Week: What Makes a High-Performance Organization?
“The process for developing a high-performance organization requires measurement. If you value something, then it should be measured. If you think that measurement is unnecessary, then you do not place much value on the activity.” Read More at Industry Week >
SF Magazine: Change Your Approach to Finance Strategy
“We used to spend a lot of time analyzing historical data to inform business planning; we’ve now switched to a predictive approach to financial planning, looking at a wider range of key indicators such as sales pipeline data. This allows finance professionals to help senior management project what’s likely to happen and make better decisions […]
CFO Magazine: Preparing for an Uncertain Future Requires Agility
There are several roadblocks to a full-fledged commitment to finance digital transformation. Some of those include: Legacy platforms make significant cross-functional changes difficult to execute Little or no resources committed to reskilling Inadequate change management processes Difficult to perform cost-benefit analysis because there aren’t always hard-dollar benefits Read more at CFO Magazine >
Industry Week: 5 Lessons from Silicon Valley that Translate to Manufacturing
Today, most industrial companies are not in a position to make data-driven decisions and are quite unfamiliar with business experiments. They lack the required transparency into their processes and are challenged by insufficient data integrity. To address this, every industrial company needs to develop a data strategy—thinking about which data should be collected, stored, and […]