Tuesday Mar 19, 2013

Best Kept Secret How to Improve Your Organization’s Bottom Line

If your organization is like most, you have devoted enormous resources to optimizing business processes. From utilizing shared service centers, to automating workflow approvals, no doubt your processes are in great shape.

 

Less understood but even more problematic is process activities that negatively impact your organization’s bottom line. Affectionately referred to as financial or cash leakage, organizations are starting to realize that they are losing literally millions of dollars each year to cash leakage.

 

Financial leakage comes in three basic forms: 1) activities that directly impact the bottom line, 2) activities that indirectly the bottom line, and 3) activities that negatively impact cash flow and that impact on the bottom line.

 

Fortunately the word is getting out that Oracle’s GRC advanced control solutions are helping organizations of all sizes to dramatically reduce financial leakage. For example, duplicate vendor invoices are a major problem that directly impacts the bottom line. Advanced controls continuously monitor both supplier records and supplier invoices for potential duplicates, then alerts management about questionable invoices.

 

In future blog postings we plan to share intriguing ways that organizations are using their advanced control solutions to reduce financial leakage and improve their bottom line. In the meantime, we encourage you to provide comments with any use cases with your business peers.

Friday Jan 11, 2013

Join our London Seminar - Improving Business Performance with Advanced Controls

Come join Oracle, Smiths Medical, and PWC at this exclusive financial executive briefing.

What if you lost a tenth of a percent of your vendor spend to cash leakage?

It may not sound like much at first, but the losses quickly add up. Consider a firm that spends £1 billion and has a 5 percent profit margin. It would take an additional £20 million in incremental sales to recover cash lost due to leakage every year.

But what can you do? If you’re like most organisations, you’re already devoting too much time to manual tasks such as reviewing vendor invoices for errors, checking user access, and detecting unauthorised changes. Oracle recognises that this remaining element of manual controls presents an untapped opportunity for your organisation.

There’s a better way. Oracle offers advanced financial controls to help you:

  • Reduce cash leakage by automatically detecting duplicate vendor invoices
  • Improve working capital with insight into sales invoice exceptions and customer account write-offs
  • Ensure financial reporting accuracy by delivering consistent data to the consolidations process

Hear first-hand from Steve Ogilvie, Director, Governance and Security the benefits achieved by Smiths Medical from implementing Oracle’s GRC technology.

This is a must-attend event for finance executives who are ready to learn how they can increase the efficiency and effectiveness of their process controls. And if you are considering an ERP systems upgrade, this is an even more opportune time to learn how advanced financial controls can improve your bottom line.

Date:
Tuesday, November 27, 2012


Time:
8:00 a.m. PST / 11:00 a.m. EST

Register now.

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Focusing on solutions for the Office of Finance, this blog will highlight key financial management market trends, events and other news of interest.

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