{"product_id":"optimizing-back-office-operations-isbn-9780470531891","title":"Optimizing Back Office Operations","description":"According to industry experts, a typical one billion dollar company spends approximately $27 million on unnecessary working capital and inefficient processing functions because they lack visibility into the financial supply chain. \u003ci\u003eOptimizing Back Office Operations: Best Practices to Maximize Profitability\u003c\/i\u003e uses examples and case studies to show how cost optimization—and not cost reduction—in the core back office operations is the right approach to maximizing profitability and enterprise value. Implementation guidance is provided for Executives, CFOs, and Controllers on transitioning from outdated processes to a fully-optimized financial supply chain. \u003cp\u003ePreface ix\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Profits: The Reason a Business Exists 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProfitability Defined 2\u003c\/p\u003e \u003cp\u003eProfitability Equation and Related Metrics 9\u003c\/p\u003e \u003cp\u003eLiquidity, Growth, and Financial Flexibility 19\u003c\/p\u003e \u003cp\u003eConclusion 25\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Cost and Capability: Strategic Choices 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCapability: One Size Does Not Fit All 28\u003c\/p\u003e \u003cp\u003eCost: You Get What You Pay For 34\u003c\/p\u003e \u003cp\u003eMeasuring Capability 41\u003c\/p\u003e \u003cp\u003eConclusion 44\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Financial Supply Chain: Entering the Gold Mine 45\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is the Financial Supply Chain? 45\u003c\/p\u003e \u003cp\u003eWorking Capital Defined 50\u003c\/p\u003e \u003cp\u003eWorking Capital Processes 59\u003c\/p\u003e \u003cp\u003eConclusion 65\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Platform for Execution: A System for Maximizing Profits 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProcess Benchmarking 74\u003c\/p\u003e \u003cp\u003eProcess Optimization 86\u003c\/p\u003e \u003cp\u003eProcess Automation 86\u003c\/p\u003e \u003cp\u003eProcess Integration 88\u003c\/p\u003e \u003cp\u003eProcess Standardization 89\u003c\/p\u003e \u003cp\u003eConclusion 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Optimizing Accounts Payable 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImplications of A\/P Effectiveness 97\u003c\/p\u003e \u003cp\u003eBest Practices 99\u003c\/p\u003e \u003cp\u003eEnabling Technologies 115\u003c\/p\u003e \u003cp\u003eConclusion 122\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 Optimizing Accounts Receivable 125\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImplications of A\/R Effectiveness 126\u003c\/p\u003e \u003cp\u003eBest Practices 130\u003c\/p\u003e \u003cp\u003eEnabling Technologies 137\u003c\/p\u003e \u003cp\u003eConclusion 144\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 7 Optimizing Purchasing 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImplications of Purchasing Effectiveness 149\u003c\/p\u003e \u003cp\u003eBest Practices 152\u003c\/p\u003e \u003cp\u003eEnabling Technologies 160\u003c\/p\u003e \u003cp\u003eConclusion 168\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 8 Optimizing Treasury Operations 171\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eImplications of Treasury Effectiveness 175\u003c\/p\u003e \u003cp\u003eBest Practices 179\u003c\/p\u003e \u003cp\u003eEnabling Technologies 193\u003c\/p\u003e \u003cp\u003eConclusion 200\u003c\/p\u003e \u003cp\u003eEpilogue 203\u003c\/p\u003e \u003cp\u003eIndex 207\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eZAHID KHALID\u003c\/b\u003e 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.   \u003c\/p\u003e\u003cp\u003eOPTIMIZING \u003cb\u003eBACK OFFICE OPERATIONS\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eOne of the key reasons for a company's failing to meet its profitability expectations lies in its back office. Think about it: a typical billion- dollar company spends approximately $27 million annually on unnecessary working capital and inefficient processing functions when they could be meeting profitability expectations with an increased concentration on their Financial Supply Chain. \u003c\/p\u003e\u003cp\u003eChanging the focus from profits to profitability, \u003ci\u003eOptimizing Back Office Operations: Best Practices to Maximize Profitability\u003c\/i\u003e uses examples and case studies to show how cost \u003ci\u003eoptimization\u003c\/i\u003e and not cost reduction in the core back office operations is the right approach to maximizing profitability and enterprise value. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDiscover how you can put these best practices to work in the areas of:\u003c\/b\u003e \u003c\/p\u003e\u003cul\u003e \u003cli\u003eProfits—the reason your business exists\u003c\/li\u003e \u003cli\u003eLiquidity, growth, and financial flexibility\u003c\/li\u003e \u003cli\u003eCost: you get what you pay for\u003c\/li\u003e \u003cli\u003eCapability: one size does not fit all\u003c\/li\u003e \u003cli\u003eFinancial supply chains\u003c\/li\u003e \u003cli\u003eWorking capital processes\u003c\/li\u003e \u003cli\u003eMeasuring capability\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\tOptimizing accounts payable, accounts receivable, purchasing, and treasury operations \u003c\/p\u003e\u003cp\u003eOther topics of special importance include the profitability equation and related metrics; measuring capability; process benchmarking; process standardization; and enabling technologies. Invaluable cases illustrate that cost optimization is a viable strategy for sustainable profit maximization. \u003c\/p\u003e\u003cp\u003eFor company controllers, assistant controllers, and financial executives, \u003ci\u003eOptimizing Back Office Operations\u003c\/i\u003e is both an important source of useful, innovative ideas and a handy quick reference for day-to-day use. It is also an indispensable guide for financial analysts, internal auditors, public accountants, and anyone concerned with company financial and accounting operations. \u003c\/p\u003e\u003cp\u003eBringing together the science of process im-provement, the art of finance, and the enabling powers of information technology to make the case for a dependable approach to maximizing profitability and cash flow, \u003ci\u003eOptimizing Back Office Operations\u003c\/i\u003e illustrates the best practices to achieve sustainable profitability.   \u003c\/p\u003e\u003cp\u003eOPTIMIZING \u003cb\u003eBACK OFFICE OPERATIONS\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eOne of the key reasons for a company's failing to meet its profitability expectations lies in its back office. Think about it: a typical billion-dollar company spends approximately $27 million annually on unnecessary working capital and inefficient processing functions when they could be meeting profitability expectations with an increased concentration on their Financial Supply Chain. \u003c\/p\u003e\u003cp\u003eChanging the focus from profits to profitability, \u003ci\u003eOptimizing Back Office Operations: Best Practices to Maximize Profitability\u003c\/i\u003e uses examples and case studies to show how cost \u003ci\u003eoptimization\u003c\/i\u003e and not cost reduction in the core back office operations is the right approach to maximizing profitability and enterprise value. \u003c\/p\u003e\u003cp\u003eDiscover how you can put these best practices to work in the areas of: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eProfits—the reason your business exists\u003c\/li\u003e \u003cli\u003eLiquidity, growth, and financial flexibility\u003c\/li\u003e \u003cli\u003eCost: you get what you pay for\u003c\/li\u003e \u003cli\u003eCapability: one size does not fit all\u003c\/li\u003e \u003cli\u003eFinancial supply chains\u003c\/li\u003e \u003cli\u003eWorking capital processes\u003c\/li\u003e \u003cli\u003eMeasuring capability\u003c\/li\u003e \u003cli\u003eOptimizing accounts payable, accounts receivable, purchasing, and treasury operations\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eOther topics of special importance include the profitability equation and related metrics; measuring capability; process benchmarking; process standardization; and enabling technologies. Invaluable cases illustrate that cost optimization is a viable strategy for sustainable profit maximization. \u003c\/p\u003e\u003cp\u003eFor company controllers, assistant controllers, and financial executives, \u003ci\u003eOptimizing Back Office Operations\u003c\/i\u003e is both an important source of useful, innovative ideas and a handy quick reference for day-to-day use. It is also an indispensable guide for financial analysts, internal auditors, public accountants, and anyone concerned with company financial and accounting operations. \u003c\/p\u003e\u003cp\u003eBringing together the science of process im-provement, the art of finance, and the enabling powers of information technology to make the case for a dependable approach to maximizing profitability and cash flow, \u003ci\u003eOptimizing Back Office Operations\u003c\/i\u003e illustrates the best practices to achieve sustainable profitability.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989723332837,"sku":"NP9780470531891","price":60.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470531891.jpg?v=1761785253","url":"https:\/\/k12savings.com\/products\/optimizing-back-office-operations-isbn-9780470531891","provider":"K12savings","version":"1.0","type":"link"}