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.