November 17, 2022 | West

Discussion Topics Include:

Enterprise Resource Planning (ERP) Systems
  • Impact on system upgrades, focused on the General ledger
  • When is it time to upgrade?
  • Is it best to go with an ERP or a patch work of supporting systems?
Planning and Analysis
  • What do you use?
  • What are the pros and cons of the process/system?
  • What are you looking to change?
Finance and the Future of IT
  • Change within Finance
  • Change within IT
  • Funding options
Activity-Based Cost Management (ABC)
  • Activity Shift from managerial accounting to ABC
  • Can ABC create truly accurate, fact-based measures and visibility to costs?
  • Does “predictive accounting” for capacity-sensitive driver-based budgets / rolling financial forecasts, what-if analysis, and outsourcing decisions add value?
Internal Controls in the Arena of Digital Finance
  • Avoiding financial reporting risk without overly reducing the speed of implementation and processing
  • Ensuring your organization has the right controls around robotic process automation (RPA)
Lease Negotiations in a COVID Reality
  • How much space does the company need?
  • Default positions
  • Positioning the company in light of the anticipated softening of the commercial real estate market
Finance of the Future
  • Digital trends
  • Reporting on demand
  • Utilization of AI
Supplier and Vendor Innovation Can Fuel Growth
  • Are your procurement teams on the leading edge?
  • Were do you rank in your supplier’s customer base?
  • Aligning goals with your suppliers
Faster Fraud Detection
  • Creating digital approvals for work flows will help identify problems
  • Secure document management tools
Financial Accounting Standards Board Recent Pronouncements
  • Accounting Standards Update 2016-02 Accounting for leases, effective 2020 for non-public companies
  • Accounting Standards Update 2020-08—Codification Improvements to Subtopic 310-20, Receivables—Nonrefundable Fees and Other Costs, effective 2022 for non-public companies
  • Accounting Standards Update 2020-06—Debt—Debt with Conversion and Other Options, effective 2022 for non-public companies
Return to Work in the COVID Environment
  • Risk Management
  • When and how to bring employees back
  • How much office space will you need?
Cash Forecasting, Do I have Enough in the Current Environment?
  • 13-week forecast is not sufficient
  • Understanding working capital limitations and in advance and adjusting accordingly
  • Sourcing additional working capital
Capital Equipment Funding
  • Buy or lease analysis
  • Sale lease back of current equipment, raising working capital
  • Impact of Accounting Standards Update 2016-02 Accounting for leases
Shared Services
  • Central services rather than dispersed throughout the organization
  • Digital impact and support of shared services
  • Buying teams and approaches, including reverse auctions
COSO Framework of Internal Controls
  • Three categories of the COSO framework internal control objectives: Operations, reporting and compliance
  • Continuous and ongoing process, reliant upon activity, not only written policies and procedures
  • Improved reliability for management
The Digital Trend
  • Does your team have the correct skill set? Do you have a plan to overcome shortfalls?
  • Does your organization have the right systems in place?
  • Steps in developing a road map
Is Your Organization Properly Insured?
  • Traditional lines of insurance
  • Are you covered for the digital age?
  • Have you considered going off-shore with a captive insurance company?
Getting Corporate Cost Growth Under Control
  • Improving visibility into the breakdown of corporate costs
  • Comparison to peer groups
  • Reducing “make work” projects that add no real value
Customer Intelligence
  • Methods of gathering
  • Analyzing and understanding that data
  • Forming strategies for capitalizing on the data

NCS Madison Corp.

101 W Grand Ave, Suite 200
Chicago, IL 60654
(312) 239-8584