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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

  1. 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.
  2. 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.
  3. To purchase a full copy of “Benchmarking the Finance Function,” click here.

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