australian benchmark initiative

The Australian Benchmark Initiative has been established to build a set of Finance benchmarks and facilitate the sharing of Finance better practice between Australian companies.

After a fantastic response from some of Australia's leading companies, the results  2011 benchmark study results were published on Friday, 17 February 2012 for:

Purchase to Pay
Payroll
Receivables

The responses have provided interesting trends and insights into the way Australian companies are performing, and where their future strategies lie.

Benchmark studies will be provided at no cost to all organisations that participated in the study.  For organisations that did not participate, but would like to have access to the results, they can purchase the studies of their choice if they click here.

Chartered Magazine, in their March 2012 edition ran an article on the Australian Benchmark Initiative.   That article can be downloaded here.

With the studies as a key input, optim2, as benchmark sponsor, is providing organisations the opportunity of an “Accelerated Assessment” of your Purchase to Pay, Receivables or Payroll function.  This will involve a one to two week, intensive assessment per function, following which a report will be provided that includes:

1. Overview of the current state - structure, interfaces, activities and metrics
2. Performance review against benchmarks and better practice
3. Identification of improvement opportunities - process, structure and technology
4. Improvement plan that that prioritises the steps required to realise benefits

optim2 would welcome the opportunity to discuss this further with you, and can be contacted on 02 8071 4150 or at optimise@optim2.com.