Media Relations
Media relations inquiries about The Hackett Group should be directed to Gary Baker, Communications Director at gbaker@thehackettgroup.com or +1 917 796 2391.
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Hackett in the News
Forbes Online,"Better Procurement,"
December 27, 2006
Research on procurement practices by a strategic advisory firm, The Hackett Group, has made it clear that top procurement organizations spend 25% less on procurement activities than typical companies. Beyond expertise in direct spending practices by organizations, the real opportunities appear to be mastery of those indirect spending areas that have traditionally have not been within procurement control. Re-engineering supplier and internal relationships can gain economies of scale and significantly improve the tools that leverage the cost negotiations process.
Purchasing,"Best Practices : Hackett Group Outlines the World-Class Procurement Organization,"
December 12, 2006
A recent Hackett Group report found that top-performing procurement organizations emphasize two key best practices: centralization and cross-functional teams. Hackett found that a company with $1 billion in annual spend can save $8 million in process costs alone by increasing the percentage of contracts negotiated centrally from 20% up to 80%.
Managing Compliance Standards,"Save Money with Fewer Controls, Less Complexity,"
December 6, 2006
John McMahan, senior business advisor with The Hackett Group, discussed compliance spending findings from Hackett's 2006 Enterprise Book of Numbers™.
BusinessWeek.com,"The SEC Opens Up SarbOx,"
December 5, 2006
Businesses that have been agitating for less stringent oversight of financial compliance regulations will get a first taste of relief in the next two weeks, when the Securities & Exchange Commission and the Public Company Accounting Oversight Board unveil a plan for streamlining the day-to-day workings of the Sarbanes-Oxley Act of 2002. According to Hackett Chief Research Officer Richard T. Roth, both regulators and corporate executives are to blame for the complexity of Sarbanes-Oxley Compliance. Hackett's research found that the current average cost of compliance at 0.25% of a company's revenue. Leading operations, which have less complex internal controls, spend even less-about 0.14% of revenue, including direct compliance costs and outside auditing fees.
Business Finance,"Upfront: A Strategic Look at Performance Management,"
December 1, 2006
The typical company spends too much money on planning and performance management processes for the value these activities generate, according to new research from The Hackett Group. Despite the fact that they spend more than double the amount that a world-class company does on planning and performance management processes and operate with more than twice the staff, average.
FAO Today,"How Do You Know if You Have Entered into a World-class FAO Deal?"
December 1, 2006
The answer lies within benchmarking data. In a first of many columns, The Hackett Group discusses what it means to be"world class," how that information can be used to assess Finance & Accounting Outsourcing relationships, and how companies can drive improved performance from their FAO partners. By Hackett Chief Research Officer Michel Janssen and Hackett President of Global Enterprise Solutions Richard T. Roth.
Finance Director,"Profit from Performance,"
December 1, 2006
Do companies that excel at enterprise performance management (EPM) reap bottom line rewards? The Hackett Group Senior Business Advisor James Creelman details new research showing that top performers in EPM generate more than double the equity market returns of typical companies while driving higher stock prices and lower operating volatily.
InformationWeek,"Most Effective IT Organizations Spend 7% More, Says Report,"
November 29, 2006
Companies with the most effective and efficient IT organizations spend about 7% more on IT than median-performing companies, according to a new report from The Hackett Group.
FinancialWeek,"Cut the SarBull, Folks,"
November 27, 2006
This editorial from FinancialWeek Editor in Chief Glenn Coleman uses Hackett research data to call into question the true cost burden of Sarbanes-Oxley compliance. Note: Free registration required.
Computing Business (UK),"Make your mark on the board,"
November 23, 2006
This article on the value of IT's presence at a company's boardroom table, and the challenges CIOs face in getting there, includes research and quotes from The Hackett Group detailing how the best IT organizations consistently achieve this difficult goal.
Workforce Management,"Report: Savings From Offshoring HR Processes Will Create Demand,"
November 22, 2006
Fortune 500 companies that move a number of their HR processes offshore can save $15.6 million annually, according to a recent report by Atlanta-based consulting firm the Hackett Group. These findings should serve as a wake-up call to HR executives, says Michel Janssen, managing director at Hackett. HR executives need to get in front of the trend before their CFOs start the process ahead of them, he says.
DM Review,"Hackett Book of Numbers™ Analysis: Finance Costs at Typical Companies Well Over Pre-SOX Levels,"
November 20, 2006
The cost of finance operations has resumed its 14-year downward trend at typical companies, after spiking dramatically in 2004/2005 due in part to Sarbanes-Oxley compliance efforts, according to 2006 Enterprise Book of Numbers™ research from The Hackett Group.
CFO, com,"After a Sarbox Bump, Finance Cuts Costs,"
November 17, 2006
A drop in finance-related costs resumes a 14-year downward trend, a survey finds. So much for fears that Sarbanes-Oxley will permanently break finance department budgets. After two years of cost hikes related to internal-controls compliance, the"typical" company reported a 3 percent dip in the cost of finance operations in 2006, according to a report by The Hackett Group.
Investor's Business Daily,"Business Intelligence Software May Be Due For Consolidation,"
November 17, 2006
This profile on the Business Intelligence software market includes Hackett research quantifying the way some companies use BI software to improve market returns, and how many companies are"flying blind," due to poor BI processes and systems.
New York Times Sunday Business Section,"On the Contrary: A Boom in Jobs, and Fear,"
November 12, 2006
The Sunday Business Section of the New York Times featured a column by Daniel Akst that uses Hackett's research as a jumping off point for a discussion of the shifting world job market and the underlying political and economic issues for the U.S.
CFO.com,"Offshoring Finance Jobs Saves Billions?"
November 9, 2006
Fortune 500 companies could save $20 billion annually by sending 650,000 finance and procurement jobs overseas, according to a new Hackett Group report. By doing so, each corporation could cut costs by as much as $40 million in one year, concludes the study.
Dow Jones Newswire,"IN THE MONEY: Next Outsourcing Wave To Hit Back Office,"
November 6, 2006
The top tier of American business could reap millions in annual savings by moving the back office out of the office. Companies in the Fortune 500 could realize as much as $116 million in savings annually by outsourcing functions such as finance, procurement, human resources and information technology, according to new research by business consultants Hackett Group. For all 500 companies, the savings could total $58 billion over the next decade.
CNN ,"CNN Newsroom,"
November 1, 2006
Reporting from the floor of the New York Stock Exchange, Cheryl Casone spotlights Hackett's new research concering globalization and outsourcing. Note: Link below is to a transcript of that hour's broadcast. Search for Hackett to find the coverage.
Financial Executive,"Diversifying Suppliers Isn't Costly: Hackett,"
November 1, 2006
Increasing the reliance on women- and minority-owned businesses as suppliers doesn't cost leading procurement organizations more, according to new research from The Hackett Group, a strategic advisory firm. In fact, some cutting-edge companies find quite the opposite is true, and are finding ways to use supplier diversity to drive new sources of revenue. (free registration required)
Treasury & Risk,"MAKING BPM PAY OFF,"
November 2006
The benefits of superior bpm systems and processes are starting to show up in the numbers, according to a study by The Hackett Group. Here's what leading adopters are doing to separate themselves from the pack.
Reuters Newswire,"White-collar outsourcing pressure builds,"
October 31 2006
Job losses in the United States from outsourcing, already a touchy political issue, could mushroom in the next decade as companies shift hundreds of thousands more professional white-collar jobs offshore, according to a new study. Fortune 500 companies could potentially save $58 billion annually, or some $116 million per company, by offshoring general and administrative jobs, according to The Hackett Group, a strategic advisory firm.
InformationWeek,"Nearly 1.5 Million Back-Office U.S. Jobs Seen Moving Abroad,"
October 27, 2006
America's largest companies could save $58 billion a year by moving nearly 1.5 million back-office jobs overseas over the next decade, according to research conducted by The Hackett Group. That translates to $116 million in annual savings and the transfer of nearly 3,000 full-time equivalent jobs abroad for the typical Fortune 500 company, Hackett says.
Deal Architect,"The Real Deal: Rick Roth and CIOs in the Executive Suite,"
October 17, 2006
In a guest column on this Weblog, Hackett Chief Research Officer Richard T. Roth explains why in many cases, CIOs can tell whether they're truly world-class by answering two simple questions -- Does your leadership team give you real boardroom access? and What's the title on your boss's business card?
CFO.com,"Cash Scorecard: Unleash the Hoards?"
October 17, 2006
Corporate finance executives began removing their fingers from the dikes damming up their companies' towering cash holdings last year, a study of cash management done by Hackett-REL, a consulting company, suggests.
InformationWeek.com Weblog,"The Spreadsheet: 1979-2006. May It Rest In Peace?"
October 12, 2006
20 years after the introduction of the first PC-based spreadsheet, most companies still rely heavily on it as a standalone budgeting tool. But the smart ones use it less, and this helps them generate more than double the shareholder returns of typical companies, according to new research in Enterprise Performance Management from The Hackett Group.
Accountancy Age (UK),"Working capital delays puts companies' profits at risk,"
October 5, 2006
A significant number of companies are doing the equivalent of living on a shoestring as they wait for returns to manifest, a study has discovered. The uncompromising report, compiled by Hackett-REL, highlights the fact that working capital remains a serious problem for businesses, despite their lofty perches in the FTSE 350.
Executive Decisions,"Next in Line: When Key People Leave, Who Picks their Replacement?"
October 1, 2006
This article on succession planning quotes Hackett's Stephen Joyce, on the importance of having adequate"bench strength," or multiple candidates in any succession plan.
Construction Purchasing,"A place for plastic,"
October 1, 2006
Hackett's Chris Sawchuk and Kurt Albertson offer insights into how companies can most effectively implement procurement card programs that reduce procurement costs, shorten acquisition time for key supplies, and offer other benefits.
FAO Today,"116 Million Reasons Why the World Is Flat,"
October 1, 2006
A bylined article by Hackett President Wayne Mincey and Hackett Managing Director Wayne Mincey. Global options in business process sourcing are having a significant impact on executive decisions in this area. The Hackett Group's work with clients fully leveraging global labor markets for their selling, general, and administrative (SGA) activities reflect average, fully loaded labor rate savings of more than 70 percent. Our research further indicates that the average Fortune 500 firm could realize annualized savings of more than $116 million by fully leveraging a globalization strategy.
eWeek,"Four Feckless, Counterproductive Business Approaches to IT,"
September 21, 2006
This article on mistakes businesses make when working with IT includes insights from Hackett's Eric Dorr on the integration problems that can be caused when business units circumvent the IT organization and purchse their own software.
InfoWorld,"Executive order: Attract and retain top IT talent,"
September 18, 2006
This article on how companies are luring top IT talent includes quotes from Hackett's Eric Dorr on how the best IT organizations are likely to pay their staff more, because their talent management initiatives target higher-skilled staff.
Financial Times (UK),"Shared Services Supplement: Introduction,"
September 7, 2006
According to The Hackett Group's research, the growth of shared services has been a contributing factor in ongoing reductions in the overall cost of corporate finance operations.
Financial Times (UK),"Shared Services: Getting Started,"
September 7, 2006
This article on how companies can best get started with shared services includes insights from Hackett's Tom Bangemann concerning the key role benchmarking can play in determining and/or validating a business case.
Wall Street Journal,"How U.S. Firms Make Capital Gains,"
September 5, 2006
Big companies are doing a better job of squeezing money from their businesses through improved cash management, helping to bolster what are already growing cash piles at many outfits, according to a new study from Hackett-REL. (paid subscription required)
Reuters,"Top US companies cut working capital 5.6 pct-study,"
September 5, 2006
1,000 largest U.S. companies reduced their overall working capital by 5.6 percent, or $72 billion, in 2005, according to a study by Hackett-REL.
CFO Magazine,"How Low Can It Go?,"
September 1, 2006
Companies continue to reduce working-capital levels, and they have 450 billion reasons to keep at it, according to a new study from Hackett-REL.
Business Finance,"How BPM Bolsters Compliance,"
September 1, 2006
According to Hackett's John McMahan and Sean Kracklauer, companies that have streamlined and optimized their Business Performance Management processes and systems can see the benefit of fewer compliance problems.
Baseline,"2006 Baseline/The Hackett Group ROI Awards,"
September 1, 2006
Hackett co-sponsored this Baseline Magazine competition, and analyzed and validated the ROI claims of all submissions. This year's winner was the U.S. unit of camera maker Nikon, which saw major benefits with a customer relationship management project that yielded a plump 3,203% return.
Supply & Demand Chain Executive,"Not Your Grandfather's GPO,"
September 1, 2006
This overview article on how supply management executives are discovering fresh value in group purchasing organizations and unlocking new savings through buying consortia includes comments and insights from Hackett's Pierre Mitchell.
Treasury & Risk Management,"There's a New Wildcard for Payables,"
September 1, 2006
Few finance executives think of p-cards when it comes to centralizing accounts/payable, but a handful of the big banks have developed programs that are making finance departments and treasuries take a second look. Hackett A/P Transformation Leader Nick Williams is one of the experts quoted in this article, and he provides guidance on how A/P and purchasing work hand-in-hand at world-class companies.
CFO,"Study: Diversity Doesn't Cost More," By Sarah Johnson, CFO.com
August 24, 2006
Companies wanting to expand their supplier diversity programs can do so without sacrificing savings, according to a recent report by The Hackett Group.
Wall Street Journal,"Benefits of Supplier Diversity May Go Beyond 'Social Good,'
August 21, 2006
When a company announces a relationship with a minority supplier, investors and analysts tend to file that news release under"social good" and move on. But companies that seek out such business relationships see financial benefits, too, according to new research from The Hackett Group. (Paid Subscription Required)
CFO,"Study: Diversity Doesn't Cost More," By Sarah Johnson, CFO.com
August 17, 2006
Buying supplies from women- and minority-owned businesses could benefit a company's bottom line, according to new research from The Hackett Group.
Supply Chain Management Review,"Hackett Group: Supplier Diversity Programs Do Not Increase Costs,"
August 17, 2006
Companies do not sacrifice procurement savings when they pursue supplier diversity programs, according to new research from the Hackett Group.
Baseline.com,"Outsourcing: What CIOs Need to Know,"
August 2, 2006
Is information-technology outsourcing on the wane? No, says The Hackett Group's Scott Holland who claims"world-class" companies farm out about half their I.T. infrastructure operations and will continue to find new areas to outsource.
Manufacturing Business Technology,"Study shows substantial waste in working capital in U.S. and European companies,"
August 1, 2006
In a study of the 2,000 largest companies across the U.S. and Europe, The Hackett Group found $1 trillion-plus unnecessarily tied up in working capital. The study, which comes as a result of Hackett's acquisition of REL Consultancy Group last year, shows companies are not yet fully optimizing customer-to-cash cycles.
Treasury & Risk Management,"Changing Bills into Greenbacks,"
August 1, 2006
This article on best practices in Accounts Receiveable features Hackett's Katie Downs, who discusses how world-class companies reduce DSO, increase the percentage of credit sales collected within terms, and cut billing error rates. Downs discusses one Hackett client that was able to increase sales by 118 percent while also reducing DSO by 12 days.
Business Finance,"What's Wrong With Outsourcing (And How To Fix It),"
August 1, 2006
This article on how to solve common outsourcing problems offers analysis and insights from Hackett's Julio Ramirez, including a description of how many companies use shared services as a bridge to outsourcing, and a detailing of major risks associated with captive offshore operations.
Personnel Today (UK),"World-class HR focuses on planning,"
July 18, 2006
By focusing on strategic workforce planning, top HR organizations dramatically lower voluntary turnover, and also see a wide array of other benefits, according to research by The Hackett Group.
InformationWeek,"In Depth: U.S. IT Unemployment Plunges To 2.2%. But There's More To This Story,"
July 17, 2006
This article on IT staffing trends includes comments from Hackett's Scott Holland concerning how outsourcing is changing the IT staffing mix at many companies.
Tekrati.com,"IT Outsoucing to Continue Strong Growth into 2007, Says The Hackett Group,"
July 17, 2006
IT outsourcing will continue to increase strongly next year according to The Hackett Group, based on an analysis of in-depth IT benchmarks at hundreds of Fortune 1000 companies.
Supply & Demand Chain Executive,"World-class HR Organizations Seen Reducing Termination Rates, Operating Leaner,"
July 14, 2006
With an intense focus on strategic workforce planning, world-class human resources (HR) organizations drive down voluntary termination rates to 33 percent that of typical companies, according to new research findings from business advisory firm The Hackett Group.
Supply & Demand Chain Executive,"World-class Companies Move Beyond Cost in G&A in Response to Globalization,"
July 5, 2006
Companies must improve speed and agility, enhance responsiveness, inspire passion, according to speakers at The Hackett Group's recent Best Practices conference.
Business Finance,"Treasury Today: Is Outsourcing on Treasury's Agenda?"
July 1, 2006
While the idea of outsourcing treasury operations has generated plenty of press, at least one study from The Hackett Group shows that few businesses are actually taking the leap.
European Best Practices Conference
Blending executive-level case studies on 20/20 vision of the G&A landscape with newly published Hackett research.
- Conference Details
16-17 October 2008, London