Many performance measures are created from a flawed process. Frequently the task of finding measures is carried out at the last minute by staff members who do not have a clue about what is involved in finding a measure that will create the appropriate behavioral response. Chapter 12 looks at common reasons why organizations get […]
The annual planning process and the long, drawn-out annual reporting cycle are both perfect examples of catch-22s. To break out of them, finance teams need to attack the onerous processes that are hangovers from the past and that they have mistakenly stuck with. Read More
The average cost of a whole purchasing cycle is estimated at £30 to £40 per transaction. This cost is horrific when you realise that a high portion of your transactions is for minor amounts. The diagram to the right shows a typical profile of accounts payable(AP) invoices. Read More
The one sure thing about annual planning is that it will be wrong – its underlying assumptions have been flawed since LucaPacioli invented double entry bookkeeping in 1494.This article completes my look at the foundation stones of rolling planning, a more useful alternative. Read More