Cloud usage, tax and payroll outsourcing, recruiting and retention, and manual account reconciliation are just some of the topics addressed in the seventh annual Benchmarking the Accounting & Finance Function report by Robert Half and the Financial Executives Research Foundation (FERF).
“Financial leaders should be able to gain a glimpse into the successes and struggles that other accounting and finance departments are facing when it comes to aligning technology, knowledge, and human and financial resources to respond to the growing demands accounting and finance departments face,” the report states. “Areas where shortcomings appear can then be targeted for improvement.”
Robert Half and FERF based their study on more than 1,700 responses in late 2015 from financial leaders at US and Canadian companies. The majority of respondents were not CFOs and were based in the United States at private companies with revenues of less than $500 million.
Findings are presented in five sections: internal controls and compliance, workforce management, accounting operations, finance systems, and sourcing.