OPTIMIZING BACK OFFICE OPERATIONS
One of the key reasons for a company's failing to meet its profitability expectations lies in its back office. Think about it: a typical billion- dollar company spends approximately $27 million annually on unnecessary working capital and inefficient processing functions when they could be meeting profitability expectations with an increased concentration on their Financial Supply Chain.
Changing the focus from profits to profitability, Optimizing Back Office Operations: Best Practices to Maximize Profitability uses examples and case studies to show how cost optimization and not cost reduction in the core back office operations is the right approach to maximizing profitability and enterprise value.
Discover how you can put these best practices to work in the areas of:
- Profits the reason your business exists
- Liquidity, growth, and financial flexibility
- Cost: you get what you pay for
- Capability: one size does not fit all
- Financial supply chains
- Working capital processes
- Measuring capability
Optimizing accounts payable, accounts receivable, purchasing, and treasury operations
Other topics of special importance include the profitability equation and related metrics; measuring capability; process benchmarking; process standardization; and enabling technologies. Invaluable cases illustrate that cost optimization is a viable strategy for sustainable profit maximization.
For company controllers, assistant controllers, and financial executives, Optimizing Back Office Operations is both an important source of useful, innovative ideas and a handy quick reference for day-to-day use. It is also an indispensable guide for financial analysts, internal auditors, public accountants, and anyone concerned with company financial and accounting operations.
Bringing together the science of process im-provement, the art of finance, and the enabling powers of information technology to make the case for a dependable approach to maximizing profitability and cash flow, Optimizing Back Office Operations illustrates the best practices to achieve sustainable profitability.
From the Back Cover
OPTIMIZING BACK OFFICE OPERATIONS
One of the key reasons for a company's failing to meet its profitability expectations lies in its back office. Think about it: a typical billion-dollar company spends approximately $27 million annually on unnecessary working capital and inefficient processing functions when they could be meeting profitability expectations with an increased concentration on their Financial Supply Chain.
Changing the focus from profits to profitability, Optimizing Back Office Operations: Best Practices to Maximize Profitability uses examples and case studies to show how cost optimization and not cost reduction in the core back office operations is the right approach to maximizing profitability and enterprise value.
Discover how you can put these best practices to work in the areas of:
- Profits the reason your business exists
- Liquidity, growth, and financial flexibility
- Cost: you get what you pay for
- Capability: one size does not fit all
- Financial supply chains
- Working capital processes
- Measuring capability
- Optimizing accounts payable, accounts receivable, purchasing, and treasury operations
Other topics of special importance include the profitability equation and related metrics; measuring capability; process benchmarking; process standardization; and enabling technologies. Invaluable cases illustrate that cost optimization is a viable strategy for sustainable profit maximization.
For company controllers, assistant controllers, and financial executives, Optimizing Back Office Operations is both an important source of useful, innovative ideas and a handy quick reference for day-to-day use. It is also an indispensable guide for financial analysts, internal auditors, public accountants, and anyone concerned with company financial and accounting operations.
Bringing together the science of process im-provement, the art of finance, and the enabling powers of information technology to make the case for a dependable approach to maximizing profitability and cash flow, Optimizing Back Office Operations illustrates the best practices to achieve sustainable profitability.
About the Author
ZAHID KHALID is Managing Partner at The Hardstone Group, a management consulting practice specializing in helping clients increase profitability through improvements in financial supply chain processes. He has authored numerous articles on finance and technology in various industry publications and is a frequent presenter at events related to working capital optimization. He can be reached via the firm's Web site: http://www.hardstonegroup.com.
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