Optimizing Back Office Operations: Best Practices to Maximize Profitability

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9780470531891: Optimizing Back Office Operations: Best Practices to Maximize Profitability

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 optimization—and not cost reduction—in 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 Implementation guidance is provided for Executives, CFOs, and Controllers on transitioning from outdated processes to a fully-optimized financial supply chain.

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From the Inside Flap:

Optimizing Back Office Operations

One of the key reasons for a company's failing to meet its profitability expectations lies in its back office. Think about it: a typical billion-dollar company spends approximately $27 million annually on unnecessary working capital and inefficient processing functions when they could be meeting profitability expectations with an increased concentration on their Financial Supply Chain.

Changing the focus from profits to profitability, Optimizing Back Office Operations: Best Practices to Maximize Profitability uses examples and case studies to show how cost optimization and not cost reduction in the core back office operations is the right approach to maximizing profitability and enterprise value.

Discover how you can put these best practices to work in the areas of:

  • Profits—the reason your business exists

  • Liquidity, growth, and financial flexibility

  • Cost: you get what you pay for

  • Capability: one size does not fit all

  • Financial supply chains

  • Working capital processes

  • Measuring capability

  • Optimizing accounts payable, accounts receivable, purchasing, and treasury operations

Other topics of special importance include the profitability equation and related metrics; measuring capability; process benchmarking; process standardization; and enabling technologies. Invaluable cases illustrate that cost optimization is a viable strategy for sustainable profit maximization.

For company controllers, assistant controllers, and financial executives, Optimizing Back Office Operations is both an important source of useful, innovative ideas and a handy quick reference for day-to-day use. It is also an indispensable guide for financial analysts, internal auditors, public accountants, and anyone concerned with company financial and accounting operations.

Bringing together the science of process im-provement, the art of finance, and the enabling powers of information technology to make the case for a dependable approach to maximizing profitability and cash flow, Optimizing Back Office Operations illustrates the best practices to achieve sustainable profitability.

From the Back Cover:

Put your financial supply chain to work for greaterprofitability

Historically, most companies have consistently focused on revenue-generating activities and invested heavily in organizational capabilities that support this effort. It's time to focus on the back office to meet the profitability expectations of your company.

Destined to become an essential desktop tool in helping you achieve sustainable profitability, Optimizing Back Office Operations provides practical guidance on:

  • Making the transition to a fully optimized financial supply chain from traditional paper-driven, outdated processes

  • How optimizing your back office makes a big, positive impact on your organization's profitability

  • A cost-capability optimization approach to maximizing profitability

Created as a result of conversations with several senior executives and colleagues who hold leadership roles in various functions that affect working capital, Optimizing Back Office Operations outlines the best practices and proactive strategies you can use to make the most of your financial supply chain.

Filled with case studies and insights, this is the one-stop resource you will turn to for the latest information and know-how on achieving sustainable profitability in the accounts payable, accounts receivable, purchasing, and treasury functions.

The science of process improvement, the art of finance, and the enabling powers of information technology come together here to make the case for a dependable approach to maximizing profitability and cash flow—all through financial supply chain optimization.

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