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.

Global Process Owners and Getting ‘More-for-Less’ in Finance Shared Services
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Arguably the cost of the typical finance function has halved over the last two decades, during which time expectations from the business have almost doubled. A series of transformation programs have implemented ERP systems, established shared services centres (SSCs) and addressed the stringent demands for greater control and regulatory compliance.… Read More

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Don’t Trust Your Instinct: The Perils of Thinking Fast
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I’m very pleased to welcome a guest blog post, written today by Julia Biedry. As a keen fan of Daniel Kahneman’s work, Julia has chosen to delve a bit into the psychology behind important business decisions…

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From grade school up to college and beyond, we have constantly been fed the same platitude that our first instinct is probably the right answer.… Read More

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The ‘F Word’ & Smart Data Analytics
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The 'F Word' and Smart Data Analytics

The ‘F Word’ is enough to get people quite agitated in any discussion. Particularly when it relates to our business processes . . .Yep, I’m talking about Fraud.

We all know it happens, but not in our companies. But it does remind me of a related comment I heard a few years back “Everyone’s talking about it, some people are doing it and no-one is doing it very well’. Read More

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5 Opportunities: Financial Control Best Practice with COSO 2013
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This is an excerpt from a recent white paper:

The recent 2013 update of the Internal Control Framework issued by the COSO was a major event followed by standard setters and publicly held companies. The original COSO framework published in 1992 became a widely accepted internal control framework standard for meeting the requirements of a number of US regulations led by the infamous Sarbanes-Oxley Act (SOX) of 2002, introducing a formal sign-off on the effectiveness of the system of Internal Controls over Financial Reporting (ICFR).Read More

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Leading Indicators plus KPIs will increase Finance productivity by 20%
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Leading Indicators and Key Exception Indicators are key tools in optimising finance processes. Gartner’s latest research supports this and even makes the bold claim that predictive business performance measures will help drive productivity by 20 percent by 2017. According to Gartner, such measures can comprehend exceptions and variances to individual process execution and thus are essential to mitigate and prevent the impact of disruptive events on profitability. Read More

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5 Steps to (avoid) GRC Disaster
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Observations and experiences in my travels from a small island . . .  

I am fortunate to have the opportunity to wander far and wide talking to people in various roles about their strategies for Financial Control & Compliance, Risk Management and Process optimisation.Read More

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BMW Group: Leadership Lessons in Financial Risk Management
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BMW Group is one of the largest car manufacturers and arguably the most successful and esteemed car maker in the world. With the BMW, MINI and Rolls-Royce brand, it possesses three of the strongest premium labels in the automotive industry. This year the Bavarian group also claimed the title for ‘most admired’ organisation in its field in the Hay Group and Fortune Magazine’s annual World’s Most Admired Company rankings.… Read More

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What is "World Class" Finance?
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“The pessimist complains about the wind. The optimist expects it to change. The leader adjusts the sails.” a quote that probably describes best organisations’ efforts to achieve world class finance.”Read More

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Big Data and The CFO (Part deux)
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In Part I of this post I talked about the growth rate of the Big Data wave and analysed the challenges and struggles that practitioners are experiencing in the big data world. You can read Part I here…

The CFO and Big Data

Whilst it is important to consider the data analytics opportunities for consumer buying behaviour, the CFO on the road to World Class Finance should consider that it is not the size of your data that matters, rather it is what you do with it and even more importantly, your focus on the ‘odd-shaped’ data.… Read More

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Big Data and the CFO
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“Rugby is a game played by gentlemen with odd shaped balls” – Anon . . . .

The Big Data wave

BIG DATA is all the rage with every company jumping on the bandwagon to claim they have a ‘solution’ for big data (hmm .… Read More

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