Benchmarking the Accounting & Finance Function: 2014 Summary Presentation

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Is your finance and accounting team ready to drive your success throughout 2014? Robert Half’s fifth annual Benchmarking the Accounting & Finance Function report provides metrics on staffing, financial systems, outsourcing and more. Find out how your company measures up to its peers.

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Benchmarking the Accounting & Finance Function: 2014 Summary Presentation

  1. 1. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  2. 2. 2 2 Paul McDonald Senior Executive Director Robert Half www.roberthalf.com Tom Thompson Senior Associate, Research Financial Executives Research Foundation www.ferf.org Report Authors © 2014 Robert Half. An Equal Opportunity Employer M/F/D/V. All rights reserved. This material is the confidential property of Robert Half Technology. Copying or reproducing this material is strictly prohibited. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  3. 3. 3 Benchmark Report Overview Workforce Management Sourcing Internal Controls and Compliance Financial Systems Accounting Operations © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  4. 4. 4 Methodology and Demographics Company Type 62% Private 3% Government 15% Nonprofit 20% Public © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  5. 5. 5 Methodology and Demographics Annual Revenue 35% Less than $25M 6% $500M- $999M 20% $100M- $499M 27% $25M- $99M 8% $1B- $4.9B 5% $5B and over © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  6. 6. 6 Workforce Management © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  7. 7. 7 Staff Allocation 21% Accounting 15% A/P 11% A/R Top 3: © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  8. 8. 8 Percentage of Financial Staff Who Are Temporary 8% of staff in U.S. are temporary. 5% of staff in Canada are temporary. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  9. 9. 9 Interim Staff Fluctuation The largest companies ($5B and up) are most likely to flex up and down their use of interim professionals. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  10. 10. 10 Accounting Operations © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  11. 11. 11 General Ledger Accounts 19% Among executives surveyed this year, 15% in the U.S. and 19% in Canada indicated they reconciled anywhere from 501 to more than 10,000 accounts at least quarterly. 15% © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  12. 12. 12 Tool/System Used For Account Reconciliations 66% of Canadian executives said they reconcile accounts manually. 59% of U.S. executives said they reconcile accounts manually. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  13. 13. 13 Financial Systems © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  14. 14. 14 Primary Financial System ERP 90% 78% More than three-quarters (78%) of U.S. companies and 90% of Canadian companies use an ERP system as their primary financial system. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  15. 15. 15 Long-Term Planning Tools 70% of Canadian executives use Microsoft Excel. 73% of U.S. executives use Microsoft Excel. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  16. 16. 16 Sourcing © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  17. 17. 17 Outsourced Functions © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V. Payroll 42% 37% 47% 42% Taxes
  18. 18. 18 Internal Controls and Compliance © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  19. 19. 19 Number of Key Controls 21% of companies with revenues of $5B and higher manage between 1,001 and 2,500 key controls. In comparison, none of the biggest companies reported managing such a high number of key controls last year. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  20. 20. 20 Cost of Compliance 48% of U.S. companies surveyed said their cost of compliance is rising, while only 1% said costs are falling. 41% of Canadian companies surveyed said their cost of compliance is rising as well, while only 3% said costs are falling. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  21. 21. 21 Putting The Data To Work • Not just what you know – but what you do with the knowledge • How will you use this data? • Which areas of focus are most critical? – Business processes and efficiencies – Workforce management approach – Technology • Determine priorities and next steps © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
  22. 22. Download Full Report © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.

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