Optimizing Back Office Operations: Best Practices to Maximize Profitability / Edition 1

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Historically, most companies have consistently focused on revenue-generating activities and invested heavily in organizational capabilities that support this effort. It's time to focus on the back office to meet the profitability expectations of your company.

Destined to become an essential desktop tool in helping you achieve sustainable profitability, Optimizing Back Office Operations provides practical guidance on:

Making the transition to a fully optimized financial supply chain from traditional paper-driven, outdated processes

How optimizing your back office makes a big, positive impact on your organization's profitability

A cost-capability optimization approach to maximizing profitability

Created as a result of conversations with several senior executives and colleagues who hold leadership roles in various functions that affect working capital, Optimizing Back Office Operations outlines the best practices and proactive strategies you can use to make the most of your financial supply chain.

Filled with case studies and insights, this is the one-stop resource you will turn to for the latest information and know-how on achieving sustainable profitability in the accounts payable, accounts receivable, purchasing, and treasury functions.

The science of process improvement, the art of finance, and the enabling powers of information technology come together here to make the case for a dependable approach to maximizing profitability and cash flow-all through financial supply chain optimization.

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Product Details

  • ISBN-13: 9780470531891
  • Publisher: Wiley
  • Publication date: 3/8/2010
  • Edition number: 1
  • Pages: 224
  • Product dimensions: 6.20 (w) x 9.10 (h) x 0.90 (d)

Meet the Author

Zahid Khalid is Managing Partner at The Hardstone Group, a management consulting practice specializing in helping clients increase profitability through improvements in financial supply chain processes. He has authored numerous articles on finance and technology in various industry publications and is a frequent presenter at events related to working capital optimization. He can be reached via the firm's Web site: www.hardstonegroup.com.

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Table of Contents

Preface ix

Chapter 1 Profits: The Reason a Business Exists 1

Profitability Defined 2

Profitability Equation and Related Metrics 9

Liquidity, Growth, and Financial Flexibility 19

Conclusion 25

Chapter 2 Cost and Capability: Strategic Choices 27

Capability: One Size Does Not Fit All 28

Cost: You Get What You Pay For 34

Measuring Capability 41

Conclusion 44

Chapter 3 Financial Supply Chain: Entering the Gold Mine 45

What Is the Financial Supply Chain? 45

Working Capital Defined 50

Working Capital Processes 59

Conclusion 65

Chapter 4 Platform for Execution: A System for Maximizing Profits 69

Process Benchmarking 74

Process Optimization 86

Process Automation 86

Process Integration 88

Process Standardization 89

Conclusion 92

Chapter 5 Optimizing Accounts Payable 95

Implications of A/P Effectiveness 97

Best Practices 99

Enabling Technologies 115

Conclusion 122

Chapter 6 Optimizing Accounts Receivable 125

Implications of A/R Effectiveness 126

Best Practices 130

Enabling Technologies 137

Conclusion 144

Chapter 7 Optimizing Purchasing 147

Implications of Purchasing Effectiveness 149

Best Practices 152

Enabling Technologies 160

Conclusion 168

Chapter 8 Optimizing Treasury Operations 171

Implications of Treasury Effectiveness 175

Best Practices 179

Enabling Technologies 193

Conclusion 200

Epilogue 203

Index 207

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