Benchmarking the Finance Function: 2009
Description This report from FERF and Robert Half International examines the results of the first-ever benchmarking survey of the staffing, compliance, internal controls, and other costs of the finance function. Findings can help companies: • Recognize areas for improvement (in both the short and long term); • Gauge performance levels against those of their peers; • Identify best practices; • Resolve performance deficiencies and; • Set appropriate future performance measures. Key metrics from the study include: • The average cost, as a percentage of a company’s total revenue, of internal staff in the finance and accounting function is 2.63 percent (cost is defined as base salary, benefits, and bonus); • Within the finance and accounting functions, employees engaged in transaction processing represent the largest part of the mix, with an average cost of 8.76 percent; • Nearly half (48.12 percent) of survey respondents reported that their payroll function is outsourced .
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