20+ System Improvements for the Finance Team – Toolkit (100 page Whitepaper + e-templates)

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20+ System Improvements for the Finance Team – Toolkit (100 page Whitepaper + e-templates)

USD $159.00 USD $119.00

Covering systems improvements with accounts payable, reporting, forecasting and planning, SaaS tools, sub ledgers, chart of accounts, and using your own general ledger better. These changes will increase effectiveness and cost efficient operations for the finance team. This comprehensive whitepaper comes with electronic templates to assist you with implementation.

Product Description

Corporate accountants are running teams that have procedures more akin with Charles Dickens era than the 21st century. Whilst many organisations in the USA have been investing in technology and appropriate tools to create a truly paperless office, many of us have watched, as if disinterested or more likely confused. What is appropriate? What should I implement?

The guessing is now over. This toolkit will help you to accept and embrace technology in all the areas that affect the finance team, accounts payable, reporting, Board reporting, forecasting, intranet, sales reporting, costing systems, etc.

Far too often accountants spend all their time and resources implementing yet another GL upgrade or replacement which at best generates little, at worst, little or no decision based information.

The lack of appreciation of system enhancements will, if it has not already, become career limiting for the CFO. This toolkit will reveal the pathway blazed ahead by far seeing corporate accountants in both hemispheres.

This whitepaper is updated at the time of purchase by David Parmenter ensuring that it contains his latest thinking. The whitepaper is printed at the time of purchase to ensure it has David’s latest thinking and air-mailed to the reader. The e-templates are emailed.

Why you need this toolkit:

  • You haven’t the time to disseminate all the information from the better practices adopted by leading finance teams. I have been gathering better practices for over 25 years.
  • Easy to use e-templates – which can be in use immediately.
  • Make a lasting impression with the CEO by revolutionizing finance team processes significantly reducing costs.
  • Revisit you chart of accounts to drive more value and make better use of sub-ledgers
  • Improve the profile and job satisfaction of finance staff.
  • To help sell the need for 21st century systems within the finance team.
  • To show you how to apply the lessons learnt from implementing these systems

It will answer the following questions:

  • Why should my finance team migrate away from our reliance on Excel?
  • What are the major systems I should invest in first?
  • What are the accounts payable initiatives that give the biggest bang for their buck?
  • When should I replace our G/L?
  • You say I should avoid upgrading my G/L.  Why?

Look Inside

Table of Contents

  1. Introduction………………………………………………………………. 5

1.1     The pyramid is going upside down…………………………………… 5

1.2     The CFO can have the CIO reporting to them if they are upto it…. 5

1.3     The G/L is now a minor system in the scheme of things………….. 6

1.4     The impact of better systems on the accounting team’s workload. 6

1.5     Advantages and disadvantages of systems as a service (SaaS)…. 7

1.6     Corporate systems and the finance team involvement……………. 8

  1. A vision for IT technology that interfaces with the finance team…. 11

2.1     Banning spreadsheets from core finance routines………………… 11

2.2     Exponential rise in the level of marketplace disruption………….. 13

2.3     ‘Best of breed’ or integrated systems approach…………………… 13

2.4     Wide adoption of SaaS tools………………………………………… 14

2.5     Repositioning sales activity to the chosen sales tool……………… 14

2.6     Having a thin G/L…………………………………………………….. 15

2.7     Revisiting the Chart of Accounts……………………………………. 15

2.8     Using a sub ledger / accounting hub……………………………….. 16

2.9     Utilising business analytics………………………………………….. 16

2.10       What the digital finance function of the future will look like…… 17

2.11       systems to avoid in your enterprise performance management system 18

  1. Overview of systems implementations by size of organisation……. 21
  2. The finance team’s immediate required actions…………………….. 23

4.1     The finance team needs to find spare time………………………… 23

4.2     Agile practices to be adopted by the finance team……………….. 25

4.3     Commence your research now, this week…………………………. 33

4.4     Assess the spreadsheet risk in your organisation…………………. 34

4.5     Organise the Chart of Accounts for the 2020s…………………….. 34

4.6     Set out your IS strategy for the next three years in 15 slides….. 37

4.7     The system improvements for the finance team………………….. 38

  1. Utilising a planning and forecasting tools……………………………. 40

5.1     List of current planning tool providers……………………………… 42

5.2     An introduction to quarterly rolling forecasting and planning…… 44

  1. Upgrading your Accounts Payable systems………………………….. 46

6.1     Make the best use of your AP system……………………………… 47

6.2     Introduce a purchasing card /procurement card………………….. 48

6.3     Invest in an electronic expense claim system…………………….. 50

6.4     Why OCR / scanning equipment are a thing of the past…………. 50

6.5     Electronic interface with suppliers………………………………….. 51

6.6     Review of AP software solutions…………………………………….. 51

  1. Using a reporting tool………………………………………………….. 53

7.1     Reporting tools offered by saas providers…………………………. 53

  1. Turbo your G/L with a friendly front end…………………………….. 55

8.1     Front-end tools for general ledgers………………………………… 55

  1. Consolidation and intercompany software…………………………… 56

9.1     Consolidation tool offerings…………………………………………. 56

9.2     Intercompany software offerings…………………………………… 57

  1. Collaborative disclosure management software…………………….. 58

10.1       Collaborative disclosure management software offerings……… 58

  1. Paperless board meeting software……………………………………. 59

11.1       Electronic board paper software offerings……………………….. 59

  1. General Ledger improvements………………………………………… 61

12.1       Maximize the use of the existing G/L…………………………….. 61

12.2       Why you should avoid the hard sell to upgrade your G/L……… 61

12.3       If you really have to upgrade your G/L………………………….. 62

  1. Other systems where the finance team can influence……………… 63

13.1       Sales commissions…………………………………………………. 63

13.2       Bonus schemes……………………………………………………… 63

13.3       Electronic interfaces with customers……………………………… 63

13.4       Fixed Assets systems………………………………………………. 64

13.5       Inventory management systems…………………………………. 64

13.6       Payroll systems……………………………………………………… 65

13.7       Performance measurement system improvements…………….. 65

13.8       KPIs needs a total rethink…………………………………………. 65

13.9       Advantages in investing more into your e-commerce website… 68

13.10        Finance team intranet page…………………………………….. 69

  1. How to implement a new system with a higher chance of success.. 71

14.1       The barriers to change that the finance team face……………… 71

14.2       Selling and leading change………………………………………… 71

14.3       Appraising the options for the system……………………………. 74

14.4       Seek approval for the proposal process………………………….. 75

14.5       Test the best three applications and close the deal…………….. 76

14.6       Contractual process………………………………………………… 76

14.7       Training of in-house experts………………………………………. 76

14.8       Have three pilots……………………………………………………. 76

  1. Writer’s biography………………………………………………………. 78
  2. Appendix 1 Month-end reporting checklist…………………………… 79
  3. Appendix 2 An introduction to value stream accounting…………… 81
  4. Appendix 3 Revisiting your chart of accounts – checklist…………… 87
  5. Appendix 4: Implementing a quarterly rolling forecast-checklist…. 89
  6. Appendix 5: Selling to the C-suite…………………………………… 94

Thank you for your interest in the intellectual property I have developed. I will send you the electronic media you have purchased as soon as I have received confirmation from PayPal.