Why Benchmark Your Accounting and Finance Function?

Benchmarking the Accounting & Finance Function

Ask busy financial executives if they’ve benchmarked their accounting and finance operations against those of their peers lately, and no doubt many will respond with a look that says, “Are you serious?”

Likely to follow are statements such as these: “I don’t have time to do that! I barely have enough hours in the day to keep up with what’s going on around here.”

To be sure, accounting and finance functions are under a lot of pressure these days — from meeting regulatory compliance demands to adapting to new technologies to responding to an accelerating pace of change in the business world. But the fact is, benchmarking is important.

Benchmarking encourages reflection and comparison. If you don’t benchmark, how do you know that your “normal” state of operations is typical for other functions? (Or, more importantly, not.)

Robert Half and Financial Executives Research Foundation (FERF), the research affiliate of Financial Executives International (FEI), try to make the benchmarking process a little bit easier for financial leaders by publishing the Benchmarking the Accounting & Finance Function report.

This annual publication, now in its sixth year, provides benchmarking data based on input from nearly 1,400 executives from finance and accounting departments at public and private companies in the United States and Canada.

On Thursday, June 11, 2015, at 1 p.m. EDT, you can take part in a 1-hour, complimentary webinar that will break down key findings and other insights from the recently released 2015 survey report.* Topic areas in focus include:

What else can you learn from reading the report and attending the webinar? For one, you can gain more confidence that you are managing your accounting and finance team effectively and that the department is performing optimally. You can also discover what your peers are doing to enhance efficiency, control costs, and recruit skilled talent. In short, you can come away with new ideas on how to drive improvement in your department.

This is also a good time for reflection, according to the Benchmarking the Accounting & Finance Function report: “Benchmarking is especially important as the finance function continues to evolve from a transaction-oriented business function to a value-added information source and business partner to the rest of the organization.”

Download the free Benchmarking the Accounting & Finance Function 2015 report today.

About the webinar

Don’t miss the complimentary webinar on June 11 at 1 p.m. EDT, hosted by Robert Half and FEI.* You can register here.

Presenters include Paul McDonald, senior executive director, Robert Half, and Thomas Thompson, Jr., senior associate, research, FERF, as well as a panel of CFOs from leading companies.

*The session qualifies for one unit of continuing professional education (CPE) credit (field of study: Management Advisory Services). See the webinar registration page for more details.