CFO's save millions through tax and DSO management, says Hackett Group

CFO’s save millions through tax and DSO management, says Hackett Group

The effective management of tax rates and the days sales outstanding (DSO) process can save finance executives almost $6.5 million for every $1 billion of revenue, claims a recent publication by the Hackett Group, the provider of process benchmarking for corporates. Companies with world class finance operations ? classified by Hackett's empirical evaluation ? show lower effective tax rates of 29%, compared with the peer average of 32%. Similarly, the management of DSO at efficient corporates shows an average of 42.2 days against 49.2 days for their peers.

The effective management of tax rates and the days sales outstanding (DSO) process can save finance executives almost $6.5 million for every $1 billion of revenue, claims a recent publication by the Hackett Group, the provider of process benchmarking for corporates. Companies with world class finance operations ? classified by Hackett’s empirical evaluation ? show lower effective tax rates of 29%, compared with the peer average of 32%. Similarly, the management of DSO at efficient corporates shows an average of 42.2