Finance Compendium

SCOPE OF LEARNING

Benchmarking Partnerships will research and prepare a Compendium of Best Practices report regarding Finance covering the following scope of learning needs:

  • Human and other resources required to meet comparative organisational finance services needs – benchmark comparative numbers as well as qualitative practices
  • Innovative practices regarding finance services in geographically distributed and / or rapidly growing organizations, and also in organisations with a number of different service / product streams
  • Right infrastructure including people, qualifications, structure, information systems, tools
  • Right processes including reporting, accounts receivable, accounts payable, payroll, fixed assets accounting, internal audit, taxation, budgeting, strategic engagement, tender support, business growth support etc
  • Stakeholder engagement and relationships / service level agreements / partnerships
  • Appropriate performance benchmarks and Key Performance Indicators (KPIs)
  • Calculating costs and benefits (business case) for increasing resources / improving processes and systems
  • Knowing and understanding what you don’t yet know you need to know
  • Your learning needs?

OUTCOMES

The outcomes you can aim for by finding and implementing innovative Finance Best Practices include:

  • Ensuring finance services are adequately resourced
  • Ensuring appropriate systems and processes
  • Ensuring Finance Services can contribute strategically to business growth and forecasting as well as to the Finance processes eg payroll, budgeting, reporting
  • Partnering with stakeholders
  • Performance Management and reducing stresses on staff
  • Your outcomes?

YOUR OPPORTUNITY TO PARTICIPATE

By providing your good practice case study information relevant to the scope above which is included in the Compendium you will receive a free copy of the final report. Submissions are required latest end October 2010.

However, if you wish to participate in the numerical benchmark survey to compare finance performance there will be a modest fee of $450 plus GST per organisation. This is your choice.

If you do not have good practice information to contribute you can receive a copy of the report as soon as it is finalised for a fee of $950 plus GST.

Either way, you can influence the scope above to suit your needs – we will need this information by end October too.

CONFIDENTIALITY

You have the right to have the information provided “blinded” of your identity. We will not disclose your name or information in any general communications and will consult you before disclosing your name and details to any potential benchmarking partners. Please advise any other conditions you would like to include.

Sponsors of the report have the right to exclude specific competitors from participating or receiving a copy of the report.

SOURCES AND COVERAGE OF INNOVATIVE BEST PRACTICES

Best Practice information in the Compendium will be sourced from Australian and international organisations who have achieved success in one or more of the above criteria, including from Benchmarking Partnerships benchmarking of Finance. The report will cover the ingredients of innovative best practices used by these leading organisations and aspects of including the deployment:

 

  • What they do?
  • How they do it?
  • How well they do it (deployment)?
  • How they know how well they do it? – measurement KPIs and tools
  • Costs and benefits?
  • What they have recently improved?
  • What are their next steps?
  • What they would do differently if they had their time again and why?
  • Challenges faced and how they are overcome?
  • What else have they learned?

NEXT STEPS

The Compendium report would initially only be available to contributing organisations; and then after 6 months Benchmarking Partnerships would have the right to publish and retail the report, “blinded” of organisation identity and only after each contributing organisation has had the opportunity to approve / change content.

The flowchart for the conduct of the research and compendium reporting is shown overleaf.

Follow – up Networking Benchmarking Workshop/Site Visits/Study Tour (Optional)

After completion of the Compendium, Benchmarking Partnerships can plan and facilitate a Networking Benchmarking Workshop for the benefit of knowledge sharing between best practice partners.

Flow chart

REGISTRATION OF INTEREST

FINANCE

Please fill out the form below to register interest
FAX TO: Bruce Searles (02) 9482 4093. Anton Benc (03) 5968 9762
Phone Bruce Searles 0418 267 794. Phone Anton Benc 0409 145 033

 Please contact me to discuss our participation in this Best Practice Compendium
Organisation:
Name: Position:
E-Mail:
Address: City:
State/P.Code: Country:
Telephone:


Fax:

Please tick the relevent box(es)
    We would like to contribute good practice information to the Compendium Report, and receive a free copy once the report is finalised pending inclusion of our contribution
 

Summary details of our contribution are:
    We would like to participate in the numerical benchmarks of Finance performance – cost is $450 per GST. We could like the benchmark comparisons to cover:
 
We do not have good practice information to contribute but we would like to receive a copy of the report once finalised (we acknowledge that our investment cost for this is $950 plus GST), which will be invoiced to us now
We would like the report to cover our additional learning needs regarding Finance (we need this information prior to 31 October 2010)
 

Details of our learning needs are:
 
    

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