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Is your finance and accounting team ready to drive your success throughout 2014? Robert Half’s fifth annual Benchmarking the Accounting & Finance Function report provides metrics on staffing, financial systems, outsourcing and more. Find out how your company measures up to its peers.
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© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Paul McDonald
Senior Executive Director
Robert Half
www.roberthalf.com
Tom Thompson
Senior Associate, Research
Financial Executives Research Foundation
www.ferf.org
Report Authors
© 2014 Robert Half. An Equal Opportunity Employer M/F/D/V. All rights reserved.
This material is the confidential property of Robert Half Technology.
Copying or reproducing this material is strictly prohibited. © 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Benchmark Report Overview
Workforce Management
Sourcing
Internal Controls
and Compliance
Financial Systems
Accounting Operations
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Methodology and Demographics
Company Type
62% Private
3% Government
15% Nonprofit
20% Public
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
5
Methodology and Demographics
Annual Revenue
35%
Less than
$25M
6%
$500M-
$999M
20%
$100M-
$499M
27%
$25M-
$99M
8%
$1B-
$4.9B
5%
$5B
and over
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Workforce Management
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
7
Staff Allocation
21% Accounting
15% A/P
11%
A/R
Top 3:
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Percentage of Financial Staff Who Are Temporary
8% of staff in U.S.
are temporary.
5% of staff in Canada
are temporary.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
9
Interim Staff Fluctuation
The largest companies ($5B
and up) are most likely to flex
up and down their use of
interim professionals.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Accounting Operations
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
11
General Ledger Accounts
19%
Among executives surveyed
this year, 15% in the U.S. and
19% in Canada indicated they
reconciled anywhere from 501
to more than 10,000 accounts
at least quarterly.
15%
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Tool/System Used For Account Reconciliations
66% of Canadian
executives said
they reconcile
accounts
manually.
59% of U.S.
executives said
they reconcile
accounts
manually.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Financial Systems
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Primary Financial System
ERP
90%
78%
More than three-quarters (78%) of U.S.
companies and 90% of Canadian companies use
an ERP system as their primary financial system.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
15
Long-Term Planning Tools
70% of Canadian
executives use
Microsoft Excel.
73% of U.S.
executives use
Microsoft Excel.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
16
Sourcing
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
17
Outsourced Functions
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
Payroll
42%
37%
47%
42%
Taxes
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Internal Controls and Compliance
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Number of Key Controls
21% of companies with revenues of $5B and higher
manage between 1,001 and 2,500 key controls.
In comparison, none of the biggest companies
reported managing such a high number of key
controls last year.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
20
Cost of Compliance
48% of U.S. companies surveyed said their cost of
compliance is rising, while only 1% said costs are
falling.
41% of Canadian companies surveyed said their cost
of compliance is rising as well, while only 3% said
costs are falling.
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
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Putting The Data To Work
• Not just what you know – but what you do with the
knowledge
• How will you use this data?
• Which areas of focus are most critical? – Business processes and efficiencies
– Workforce management approach
– Technology
• Determine priorities and next steps
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.
Download Full Report
© 2014 Robert Half International Inc. An Equal Opportunity Employer M/F/D/V.