Business Reporter UK, “Managing Rising Costs in Corporate Finance Operations”

John O’Mahony and Shawn Fitzgerald of The Hackett Group explain how Digital World Class finance organisations keep costs stable while levelling up performance.

If your corporate finance operations costs as a percentage of revenue are going up, you’re not alone. At the average company, inflation and other major macroeconomic trends bumped finance costs by 7.5% this year. 

But there is one important exception: at companies with Digital World Class^® finance functions, operational costs fell by 1.3%. 

Digital World Class finance organisations are those that have achieved peak levels of business value and operational excellence. And when it comes to finance, the digital world is a better world. Since 2016, finance costs in companies with a Digital World Class finance function have consistently spent about half what typical companies do in their operations. They also manage with about half the staff. 

Source: Business Reporter UK