Thanks to recent accounting scandals and an increasingly competitive environment, many chief financial officers and the finance organizations they lead have started to take on new roles within the enterprise. However, given the current state of the finance function in US companies, companies first need to understand the challenges to finance—and the road map to increasing its strategic capabilities.
payroll accounting key control
outsourcing in waves, with payroll and tax among the first to be outsourced, and fixed assets, general accounting and accounts payable and expense as part of a second wave. Finance strategy and planning, internal controls, and treasury are not typically outsourced; revenue accounting and order to cash might emerge as another outsourcing application in the future. The outsourcing strategy varies among industries. While order-to-cash functions are not widely outsourced today, public utilities and energy