With today’s economic climate and fierce competition, companies today must ensure their accounting operations are competitive in terms of efficiency, effectiveness and productivity.
A recent article by APQC highlights some interesting ratios on what it costs to run the best of class accounting operations in the world today. The article can be found here. What is very interesting is that best of class accounting operations cost only 0.4% per $1000 per revenue. Another study by CIMA revealed that best in class accounting operations are between 0.6% and 0.7% of total Revenue
The big change in the last 5 years is that the cost of technology to acheive those savings are as low as a few dollars per day as opposed to hundreds of dollars per day in the past. With new technology we are now integrating for our clients, we are seeing accounting costs tumble for some small and mid sized companies drop 30% to 60% in some cases.
If you want to find out more, just contact us and we can show you how.