Revenue Focused Organizational Development

When considering purchasing a revenue system or any financial accounting system, there are several things to think about. Here are some tips to help you navigate the process:  Brainstorm and prioritize your requirements:  Take the time to brainstorm with your team or yourself and write down all the things you want the system to automate. Include everyone up to the CFO, if possible, to ensure you capture all requirements. This will also help get people on board with the importance of automation and alignment in the purchase of the system. Once you have all the requirements, organize them into a prioritized list to guide your evaluation process.  Identify collaborators:  Map out the list of requirements to determine who and what you need to collaborate with internally to effectively purchase and implement the system. If you have a financial systems department, involve them in the evaluation process. If not, take on the role of project manager yourself. Reach out to the...

  More often then not revenue operations and revenue accounting teams have been referred to as the “Wizard of Oz” of the organization; keeping cash flowing and making people (sales and finance) happy by getting the job done from sales to finance to auditors. But they can’t do this successfully without an approval matrix. As a deal desk consultant this is the first thing I ask for once engaging on a project. And if the business doesn’t have one, guess what, we create one as our first action item! What is an approval matrix? According to google search and jotform and approval matrix is “ An approval matrix, also known as a “schedule of authority,” is a visual representation of these rules. It clearly designates who's in charge of approving what and when. This prevents confusion about how to route tasks and keeps an approval workflow running as efficiently as possible.”  This definition could not be more accurate but what it doesnt tell you is that each organization has differen...

All this AI buzz is hitting finance and accounting hard. We hate change typically because it means more work but I think its in the eye of the beholder. There was a great article published recently in a newsletter I subscribe to called,  CFO dive on AI in finance!  Here are some key insights takeaways of mine:  Applicants are quickly declining interviews (and offers) if the company is “running on green screens and old technology”. Oracle and the AICPA partnered on a new certification to teach practical applications for technology in a business finance environment! The speed at which AI is adopted will require balance as there are many considerations around the change management. Oracle seems to be leading the pack but what about the CFOs that don’t have the luxury of an internal team focused on AI to work with your team to find efficiencies? For many this means your team will need to learn a new skill, take on these initiatives and still get their day job done. So how can...

Are you an accounting leader trying to implement KPIs that are meaningful and measurable? Mainly, we just want to get the books closed and the job done but with most things done in a system or spreadsheet these days, it's hard to keep track of who is making mistakes and how often in a way that we can easily report back to HR management.  Here are five effective accounting employee KPIs that can help you evaluate the contribution and productivity of your employees: Timeliness – This measures how quickly an employee completes their assigned tasks, especially tasks that have a deadline. A good KPI for timeliness is to ensure that all tasks are completed on or before the set deadline. Implement a close checklist with “due dates” for each task (this can even be things like day -1 for tasks to be done before close!). Accuracy – This measures how precisely an employee completes a job. It’s an essential KPI for accounting, where accuracy is critical. A good KPI for accuracy is to ensure ...