Incremental vs. High Impact Innovations

Do you assess the market and business impact of your innovations?

Have they provided significant organic growth?

Have they contributed to both your top and bottom-line?

If your company’s performance gains from new product or service innovations are merely incremental you are likely approaching innovation from a problem-solving perspective:

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The Perils of Ignoring The Income Trap

In Do You Know What the Income Trap Is? Joe Connors introduced us to a malady inflicting many business leaders, The Income Trap.

It’s a trap that occurs when a business spends too much time on the income statement at the expense of prudently managing the company’s financial reserves on the balance sheet. By comparing examples of companies like Enron and Amazon, and personal anecdotes, Joe illustrates how focusing solely on income can lead to financial instability.

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Data and Analytics in Internal Audit

The internal audit department within the CFO’s office plays a vital role in overseeing the organization’s governance, risk management, and business operations. According to the Institute of Internal Auditors (IIA), Internal Audit is one of the three lines of defense (3LOD) in corporate governance, alongside Management and Risk. Internal Audit activities, including risk assessment, compliance audits, operational audits, and IT audits, help organizations manage complex risks, improve operational efficiency, ensure regulatory compliance, and achieve strategic goals. However, many Internal Audit teams face significant challenges that can hinder their effectiveness. Key challenges include managing evolving and complex regulations (such as GDPR, SOX, AML, HIPAA, and IFRS/GAAP), increasing cyber threats, limited budgets and staffing constraints, balancing diverse stakeholder expectations, and maintaining consistent audit practices across different jurisdictions, and more.

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Improving Financial Performance With a Cash Culture - Part IV

Part IV - Cash Management Strategies and Financial Discipline

This four part series was developed from the webinar How to Foster a Cash Culture and Improve Financial Performance. In each section below we have included a link to the video message provided by the speakers, brief summaries of the lesson and specific actions you can take to improve the cash culture in your business.

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