Why Simplification is Not Always Simple

Simple for whom?

In the generally accepted paradigm for the Finance function, where Finance is an overhead that needs to be kept down and reduced constantly, efficiency is often the name of the game. Simplification is one way of achieving that. And the ways we get efficiency are normally through simplification, standardisation and automation. Those three words were…

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Finance transformation without new software or shared services

Transform vision in Finance first

This article was inspired by a comment that Andrew Jepson made in response to Part 2 of my series on Innovation and Finance, which spoke about the attitude that Finance should have to innovation within its own function. He said (in commenting on my LinkedIn post), “Can innovation in finance be as simple as: Put…

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Innovation and Finance Part 3 – Big Software Vendors Discourage Innovation

We don't need no innovation?

Ok, so my Innovation and Finance series was supposed to have two parts. But I thought of a third, and potentially a fourth! In the previous parts, I’ve spoken about how Finance should be supportive of business innovation that benefits the customer and brings competitive advantage. And I’ve spoken about how Finance should be cautious…

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Innovation and Finance Part 2 – Another Brick in the Wall

We don't need no innovation?

This is my second article looking at the relationship of Finance with innovation. Last time I shared a few thoughts on how Finance can support strategic business innovation, which benefits customers and provides competitive advantage. This time I want to turn my attention to innovation within Finance, affecting what we do on a day to…

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Assessing Finance Effectiveness

Is your Finance function effective?

There are many different ways of looking at the performance of a Finance function. As with any question of performance, before you can tell how well you’re doing, you have to know “what good looks like”. How can we tell if we’re doing a good job if we don’t know what the definition of “good”…

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Does Finance Need to Take More Risks?

Do we want risk takers in Finance? Does that conjure up positive or negative images in your mind? I sent some thoughts on this out in the Supercharges Finance newsletter recently (if you haven’t yet signed up for that, click here and join the other Finance superchargers!). I don’t normally put the same content on…

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What’s Best for Getting Process Efficiency in Finance?

robotic process automation

Here’s Something New You Should Be Considering I am trying to start this article in a way that won’t put people off reading before I even start. And that means going against the SEO principles I’ve been taught, and not mentioning my keyword straight out. You see, I think that the very terminology being used…

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Accounts Payable Automation – Benefits and Pitfalls

Beware the pitfalls of AP Automation

Where you work, have you automated Accounts Payable? I’d love to hear. Please tell me your experience in the comments below. Accounts Payable (AP), in case you were unsure, is the process by which the business pays the companies which supply it with goods and services. The suppliers send in invoices which must be paid…

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