Implementing Financial Dashboards: Moving Beyond Metrics

Why Should You Attend:

We measure processes so that we can determine how well things are working and if there are opportunities for improvements. Metrics provide a window of visibility, measure performance, and provide historical trends.

Metrics, dashboards, and tools for financial transactions have been around for years, but they may not have resulted in a call to action for various reasons.

• Metrics initiatives are often driven by the CEOs and CFOs
• Metric programs are too difficult to implement and involve manual efforts
• Results that are somewhat subjective and are questionable
• Metrics programs are not sponsored
• The metrics are too numerous and time consuming to report
• There is no time to analyze the results

It is critical to link metrics to tangible objectives, or project goals, so that the results are not looked upon as only a reporting exercise. The results should drive a call to action as well as continuous process improvements. As an example, within the accounts payable process, we’d like to ensure that the implementation of invoice automation has achieved process efficiencies as well as a reduction in cost per invoice. If the anticipated results are not met, the appropriate action plans need to be established.

Areas Covered in the Webinar:

• Defining Metrics vs. Dashboards
• Examples of Financial Metrics
• Process
• Performance
• Developing a Financial Dashboard
• Cost Saving and Value
• Transactional Quality
• Customer Service
• Controllership
• Types and Comparisons of Dashboards
• Q&A

Who Will Benefit:

• Internal auditors
• Risk managers
• Accounts payable directors
• Procure to pay (P2P) directors
• Shared service directors
• Controllers
• CFOs and CEOs

Chris Doxey
Consultant, ChrisDoxey

Chris Doxey, CAPP, CCSA, CICA is an independent consultant providing Internal Controls and Business Process Best Practice Solutions. She has held senior management positions in accounts payable, procurement, internal auditing, internal controls, Sarbanes-Oxley compliance, payroll, logistics, financial systems strategy, and financial integration at Digital, Compaq, Hewlett Packard, MCI, APEX Analytix, and Business Strategy, Inc. She was recruited to assist MCI (formally WorldCom) recover from their internal control challenges. She has a bachelor's degree in English, a bachelor's in accounting, a master's in business administration, and a graduate certificate in project management. Chris has written numerous articles and published two handbooks: AP Leadership Skills and Implementing a Controls Self Assessment Program for Your Account Payable Process. Chris presents at several conferences and provides a multitude of webinars each year.

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