- Why Your Procurement Staff and Sales Department Must Work Together
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- For many companies, the procurement department and the sales staff might as well speak different languages. After all, one group is busy working with vendors to buy raw materials while the other is working with customers to sell finished product; their job descriptions are so different they would seem to have nothing in common. These differences give the perception that by working together they won’t add much value to the business. In fact, it is these differences that make their collaboration so valuable for their companies.
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- Think about the last time you were really stressed out or discontent. How did it make you feel? I know when I get that way, my palms get sweaty, my stomach goes in knots and I feel almost paralyzed. The last thing I’m thinking about is how productive I am at work or the next big thing that’s going to help change my company. So, I can give you statistics about how happier employees or less stressed out employees are going to make your company more profitable. But you probably already know that.
- Communication That Can Change a Culture
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- I. Why the need for “Straight Talk”? Building an ethical corporate culture requires more than admonishing employees to do the right thing. Companies need to focus on the specific skills that create a positive and open work environment. From our experience, in most organizations it is poor communication that poses the greatest risk to integrity, while cultures in which employees feel free to raise issues issues tend to be ones that maintain higher levels of integrity. A lack of open communication in an organization can have serious consequences. Confusion and lack of awareness, employee isolation, a drop in productivity, a perceived lack of fairness or potential harassment issues, and fear of retaliation all can result when leaders and managers fail to take appropriate measures to promote transparency and openness
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
