Opinion
The pandemic has forced compliance and internal audit functions to shift to remote testing, making data analytics a key tool for ensuring the effectiveness of risk mitigation measures. StoneTurn experts point out that directly accessing underlying data, connecting disparate data sources, and adopting risk-based testing can significantly enhance audit efficiency and effectiveness. This article, incorporating updates to the DOJ guidelines and anti-corruption cases, provides specific operational recommendations.
The pandemic has driven explosive growth in U.S. e-commerce, with online spending in the first half of 2020 increasing by $88 billion compared to the same period in 2019, and 1.3 million newly registered e-commerce businesses. Chris Shipferling, managing partner at Global Wired Advisors, writes that founders should plan their exit path from the company's inception rather than waiting until growth becomes apparent. The article analyzes three primary exit methods—M&A, IPO, and family succession—and uses cases like Asana's direct listing and Furnitureland South's family succession to illustrate the importance of early planning, while emphasizing that identifying and amplifying value drivers (high profit margins, brand strength, management teams, high-growth tracks) is key to achieving a desirable valuation.
Facing economic uncertainty brought by the pandemic, CFOs play a key role in customer retention. This article explores how to enhance customer loyalty while maintaining financial health through flexible billing and collection policies, supplier negotiations, and customer experience management.
Traditionally, the relationship between CFOs and Chief Supply Chain Officers has been cost-centric, but today supply chain has become key to value creation. PwC's June survey shows that 30% of CFOs believe supply chain drives revenue growth more than talent, markets, or acquisitions. Oliver Wyman research indicates that supply chain costs account for 10% to over 20% of revenue, and optimization can reduce costs by up to 25%. This article uses case studies to illustrate how collaboration between CFOs and CSOs, supply chain transparency, and real-time data can help companies balance cost and resilience, unlocking hidden value.
The pandemic has disrupted the traditional workplace, and the focus of CFO responsibilities is shifting from shareholder interests to employee well-being. This article explores employee-centric digital transformation strategies, emphasizing the importance of empathy, flexible tools, and centralized management.
Facing market turmoil caused by the pandemic, Vena Solutions CFO Darrell Cox shares how his company tackled challenges with agile financial planning: from adjusting sales quotas and multi-scenario stress testing to closely tracking key metrics like customer churn, and leveraging automation tools for rapid decision-making. He believes that finance-led agile planning will be key to restoring normal operations and achieving long-term growth.
Facing the uncertainty brought by COVID-19, finance teams need to adopt real-time planning methods, using scenario modeling and simulation tools to answer key 'what-if' questions. Accenture experts propose four steps: determining the forecasting time horizon, identifying financial drivers, modeling changes in external factors, and creating agile planning processes.
Subscription models are becoming increasingly prevalent, and CFOs need to balance financial discipline with strategic flexibility. This article offers three recommendations: keeping revenue recognition within the ERP, focusing on long-term reporting and analysis, and concentrating on customer lifetime value.
In large enterprises, overpayments in the source-to-pay (S2P) process are nearly unavoidable, and CFOs are increasingly incorporating recovery audit into this process. Written by Mark Irwin, Vice President of Audit Operations at PRGX, this article analyzes the reasons for the rise of recovery audit, common sources of errors, and proposes six core steps to ensure audit success, including securing internal support, maintaining a global perspective, handling supplier relationships sensitively, proactive communication, leveraging technology, and matching the scale of the audit partner.
In 2020, businesses face the triple risks of the COVID-19 pandemic, social unrest, and hurricane season. This article reviews relevant coverage under business interruption insurance, current litigation and legislative developments, and provides claims strategy recommendations for corporate financial officers.