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Financial Directions - Cheapest finance departments move quickly.
(From Financial Director)
Over the past 12 years, the cost of the finance department as a percentage of revenue has fallen sharply, as calculated by the benchmarking organisation Hackett Group, writes Andrew Sawers.
But the gap between the median and the world-class performers (in other words, corporates in the top quartile in terms of efficiency and effectiveness) has widened considerably. "The best keep getting better, while the laggards keep lagging behind," according to chief research officer Rick Roth.
Since 1992, the median cost of finance departments has fallen from about 1.9% to under 1.1% ...
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