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Survey: Benchmarking the Finance Function
Source: Financial Executives International TV
Robert Half Management Resources
Paul McDonald, Executive Director
Runtime: 5:01
- Survey Overview:
- Financial Executives Research Foundation (FERF) and Robert Half International published the results of their first annual “Benchmarking the Finance Function” survey in November 2009.
- 217 financial executives representing both public and private companies participated.
- Key Survey Findings:
- The average cost of internal staff in the finance and accounting function is 2.63% of total company revenue (cost is defined as salary, benefits and bonus).
- The highest financial staffing cost is found in the area of transaction processing.
- On average, it takes 7.5 days to produce financial statements.
- The average cost for ERP systems, including hardware, software, software maintenance and IT support, is .95% of total company revenue.
- Nearly 50% of survey respondents outsource their payroll function.
- To purchase a full copy of “Benchmarking the Finance Function,” click here.