According to industry experts, a typical one billion dollar company spends approximately $27 million on unnecessary working capital and inefficient processing functions because they lack visibility into the financial supply chain.
Optimizing Back Office Operations: Best Practices to Maximize Profitability uses examples and case studies to show how cost optimizationand not cost reductionin the core back office operations is the right approach to maximizing profitability and enterprise value. Implementation guidance is provided for Executives, CFOs, and Controllers on transitioning from outdated processes to a fully-optimized financial supply chain.
Preface ix
CHAPTER 1 Profits: The Reason a Business Exists 1
Profitability Defined 2
Profitability Equation and Related Metrics 9
Liquidity, Growth, and Financial Flexibility 19
Conclusion 25
CHAPTER 2 Cost and Capability: Strategic Choices 27
Capability: One Size Does Not Fit All 28
Cost: You Get What You Pay For 34
Measuring Capability 41
Conclusion 44
CHAPTER 3 Financial Supply Chain: Entering the Gold Mine 45
What Is the Financial Supply Chain? 45
Working Capital Defined 50
Working Capital Processes 59
Conclusion 65
CHAPTER 4 Platform for Execution: A System for Maximizing Profits 69
Process Benchmarking 74
Process Optimization 86
Process Automation 86
Process Integration 88
Process Standardization 89
Conclusion 92
CHAPTER 5 Optimizing Accounts Payable 95
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