Taxes are a big expense for most companies, profitable or not. Many larger and midsize companies must traverse a complex and constantly shifting landscape of tax rules, rates, and jurisdictions. I’ve previously written about the need for corporations to manage their taxes more intelligently, and that that may require someone in the tax department who understands both the department’s functional requirements and what information technology can do to improve those functions. Today I am going to...
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Topics:
Tax,
Governance, Risk & Compliance (GRC),
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM),
Corporate Finance,
Financial Performance Management
To manage taxes more intelligently tax departments need to focus more on execution than compliance. I’ll confess that this observation is based on informal rather than rigorous research, so I’ll leave it up to individuals that work in these departments and in the finance function generally to consider whether this applies to their company.
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Topics:
Tax,
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM),
Corporate Finance,
Financial Performance Management
People who perform the financial planning and analysis (FP&A) function in the finance organization put together and update the budgets and forecasts. In many companies, the “A” portion of this activity gets short shrift. That’s because the mechanical process of pulling together and collating the data takes up so much time that very little remains for analysis. The result is that planning and budgeting is a less useful business tool than it could be. Improving FP&A can give executives and...
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Topics:
FP&A,
Finance Analytics,
Financial Applications,
Business Performance Management (BPM),
CFO,
finance,
Financial Performance Management (FPM),
Integrated Business Planning