Thinking

Here you’ll find our opinions, viewpoints and rants. But don’t forget to add your comments – good or bad – on anything you like or loathe. We value your feedback.

Vendor Master Data: The Engine of the P2P Cycle
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master data governance

It all starts with the data, and in the case of Procure to Pay/Purchase to Pay (P2P), it’s Vendor Master Data (VMD).  Many organizations spend many man months and years, not to mention a high cost, cleaning up their Vendor Master Data only to realize that it had begun to slip back into a less than pristine state only months later.  

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Benchmarking The Accounting and Finance Function 2016
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robert half
The ‘Benchmarking the Accounting and Finance Function: 2016 Report’ from Robert Half, provides some excellent benchmarks based on responses from more than 1700 financial leaders across the private and public sector. In the fast paced, fast changing finance environment, their statistics and analysis are a great way to gain insight into how your environment compares with peer companies.… Read More

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Data Visualization vs Data Analytics
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data blog

Data Visualization is taking over. To meet the onslaught of big data head on, more and more we see tools aimed at helping us make sense of all of this data. Programs, dare I say platforms, such as Tableau and Qlikview have made solid inroads with corporate finance and audit organizations to provide just such a service.  … Read More

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What’s The Worst Job You’ve Ever Had?
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co betterWere you bad in a former life, were you beaten as a child, do you have no friends or just low self esteem?

You are a Chief Compliance Officer and I spent 2 days with you at the Compliance Week 2016 conference in Washington DC on May 23 and 24.… Read More

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Does Workday ‘Cloud’ Risk and Control Exposure?
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workday

Workday, the new kid on the block of low cost, simpler ERPs continues to make significant inroads throughout the corporate landscape. The promise of low cost, low impact integration is certainly an attractive alternative in an area traditionally filled with obstacles and costs that keep enterprises locked into a well defined ERP path.… Read More

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Purchase to Pay Cycle: Smart Analytics Provide Opportunities for Greater Efficiency
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p2p gpoIt is generally accepted that organisations lose between 3—5% of their annual cost base to error, waste and fraud (according to many sources, including ACFE). There is much evidence that the cost of inefficiency is in fact higher. The biggest spotlight is on the Purchase to Pay (P2P or PtP) process (sometimes referred to as Source to Pay (StP) or Source to Settle) as the low hanging fruit of cash recovery, whether it be in error and waste in the purchase of goods and services, misuse of those goods and services or accounting issues in the invoice to payment cycle.… Read More

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Access Control Challenges Persist
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access controlControl of Access to Corporate Applications has always been a key part of good governance practice. With the scope and number of systems increasing within organisations, user populations increasing, application related risks becoming more evident, greater remote and mobile working, access being extended beyond employees to sub-contractors, suppliers, partners and customers and the widespread adoption of SaaS and cloud based applications, not to mention the widespread reporting of access control breaches and failures, User Access Control has become an increasing priority for management.… Read More

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The Curious Incidents of Sales Risks In The Daytime
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bribery

Another two large bribery and corruption scandals, involving major companies who violated FCPA regulations have been reported in recent weeks. You would be forgiven for thinking that cases like these would be consigned to history by now, given the better software automation, heightened controls and increased scrutiny over the past 10 years.… Read More

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Excel Heaven & Excel Hell; What Fuels Our Addiction?
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spreadsheets“Excel: We can’t live without it, yet we are fast coming to the realisation that we can’t live with it either…” Robert Gothan, Financial Director.

When it works, Excel is an incredibly powerful, simple yet sophisticated tool. However, when it goes wrong, it can cause some serious damage, as starkly illustrated by the billions of dollars of losses racked up by JPMorgan’s Chief Investment Office through some impressive spreadsheet errors.Read More

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The Future of the Finance Function
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future

“The Future Ain’t What it Used to Be” (in the finance function!)

The champion baseball player, Yogi Berra, who died this year, left a great legacy in his pearls of unwitting philosophic wisdom.

A fitting way to set the tone for the discussion at last month’s The Future of the Finance Function conference, organised by Gary Simon of FSN Elite.… Read More

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