Where would Amazon be without Jeff Bezos? Microsoft without Bill Gates and Paul Allen? Google without Larry Page and Sergey Brin?

For most organizations, net worth is directly linked to the talent at the company. This value is known as the human capital of the business. Investopedia defines human capital as “A measure of the economic value of an employee’s skill set . . . the education, experience and abilities of an employee that has economic value for employers and for the economy as a whole”.

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It’s no surprise that technology-enabled analytics has permeated every area of the business process. Using sophisticated techniques, operating, marketing, sales and financial professionals have been able to optimize their processes to improve efficiencies and positively impact bottom line financial performance.

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As with recruiting, training and development can also be costly. But unlike recruiting, a benefit of providing training to employees is that the company will more directly reap some level of return on its investment – hopefully in employee productivity, retention and loyalty. The relationship between training and a firm’s overall performance has been the subject of study for more than sixty years.

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This article is written specifically for CFOs. We believe that CFOs should understand how SCM logic can be applied to HR programs to identify areas to improve efficiencies and financial performance. According to a 2018 McKinsey report, among other strategic initiatives, CFOs are asked to take on increasing responsibility for improving financial efficiencies in the organization.

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A financial innovation that will drive value for your business – Process improvement can yield high returns with little or no capital investment.

We live in a world of scarce resources. One of the major challenges business leaders face is how to drive great results with limited capital. In the race for resources many businesses don’t place enough value on preparing timely and accurate financials. This is an area where a limited investment in capital can create large returns for the business.

Every minute spent reviewing the past is a minute not spent on building your future.

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