The last 12 months have emphasised the urgent need for process improvement around the financial close. 90% of the finance and IT leaders surveyed in a recent Forrester research report highlighted risks associated with manual errors, and under-supported and time-consuming processes as being the main obstacles to ensuring the delivery of reliable financial statements.
However, there are lessons to be learnt from organisations who have implemented initiatives that utilise automation as an enabler for standardisation and process optimisation, increasing both the effectiveness and efficiency of the Record to Report (R2R) process as a whole.
With experience driving finance transformation in Large Enterprise organisations, David Woodall, will outline the journey from standardisation to world class and how revolution is needed to drive this forward.
The advent of the global pandemic has forced companies worldwide to take up a remote-first approach. As a result of a constant tug of war between the complex dynamics of the international marketplace and changing policies, many companies are facing burning questions: How can we pursue international expansion without major hurdles? How can we navigate the legal and financial minefields that come with international hiring?
Companies are considering downsizing city offices, as employees have started relocating to different locations due to the pandemic. This opens a huge opportunity for companies — they can now hire employees no matter where they live. Recruiting top global talent before your competition can help your business grow internationally.
However, it is important to ensure that your company’s overall business infrastructure is optimised to support expansion in the international marketplace. This involves a catalogue of new filings, activities, and procedures for your finance and legal staff. Does this mean your team should devote time and attention to gaining a deep understanding of the regulatory, operational, and financial laws of each country you wish to hire in?
Fortunately, an Employer of Record offers an easier, faster, and compliant solution. In this keynote, Bob Cahill, Chief Financial Offer at Globalization Partners, explains how an Employer of Record can help companies navigate the disruption to overcome the obstacles of international expansion.
The Private Sector were pathfinders in strategies towards digitalisation, outsourcing and shared services. Though initially successful, early adopters have been unable to retain the success of their initial deployments, seeing their results diminish over time. Those Private Sector companies attempting to replicate the strategies of predecessors have seen limited success with weakened return on investment. The Public Sector has adapted its approach, invested less and achieved far more; future-proofing its strategy to ensure continued success and growth.