automation

Tag: automation

Financial Leadership in the Digital Age

There is more information available today than in another other age before. It’s overwhelming. Instead of having verbal conversations with one another, there is a room of people on their phones or laptops communicating with other people around the world. We are processing thousands (if not millions) of pieces of information a day. And that’s

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Turnover in Collections is Destroying Your DSO

One of our clients called us up because his DSO went from 34 days to over 72 days within a couple months. He couldn’t figure out what was causing his daily sales outstanding (DSO) to increase so dramatically in such a short time. When we came in the office to investigate, we found that there

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Productivity of an Accounting Department

Most people (especially those outside the finance side of the business) see the financial function as a cost center. Although an accounting department does not generate any revenue, it has the potential to dramatically improve profitability. Think about this: you should be able to convert 1-2% of sales into profits if the department was more

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Computers Change CFO’s Role

When I started out in public accounting in the late 70’s I remember working with green bar paper, IBM 36 computers and having to foot computer reports because you couldn’t trust them to add correctly. As a new hire, you had to prove your proficiency with a 10-key adding machine before you were sent into

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