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APQC’s Open Standards Benchmarking® Performance Assessment in Planning and Management Accounting 3. APQC’s Open Standards Benchmarking® Performance Assessment in Planning and Management Accounting 4. Only 25% of FP&A teams ’ time is devoted to value-addedanalysis. CFO Innovation, Oct 12, 2016 5.
The result is undesired is that teams are often unable to deliver needed plans, budgets, forecasts, reports and value-addedanalysis when asked. The result can have financial and/or operational repercussions to the business, made even more challenging during times of crisis like the present.
The advantage for companies with a fast close process is that they can spend more time on value-addedanalysis and decision making – and deliver information faster to both internal and external stakeholders. Consolidating their results following multiple accounting guidelines. Different users have varying needs.
If the latter is the case, Planful recently held a webinar focused on how you can automate and accelerate the financial close, consolidation, and reporting process and free up more Finance time for value-addedanalysis. Does this pique your interest? Financial Close, Consolidation, and Reporting – Who Cares?
Accelerate planning, consolidation, and reporting to deliver results faster and shift more time to value-addedanalysis. EPM software platforms have evolved from mainframe accounting systems to Windows-based client/server systems, then to internet-enabled, web-browser-based applications. Why is EPM Moving to the Cloud?
Since then, the Beyond Budgeting concept has steadily gained momentum, with increasing recognition in financial publications, such as CFO Magazine and the Journal of Accountancy. Most organizations spend 80% of their time collecting and validating data and 20% doing value-addedanalysis. The mix should be reversed.
The unemployment rate in Accounting & Finance is lower than the national rate, suggesting that there is a dearth of qualified individuals in the market. The CFO needs to balance solicitation for suggestions and new ideas with ample training and education on existing procedures. Finding Qualified Hiring Candidates for Finance.
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