![]() ![]() The most frequently outsourced functions are payroll (46% of respondents) and tax (30%), with internal controls a distant third at 6%. Generally, the smaller the company, the more likely it will use contract employees.įinance managers typically work a 48-hour week, while their staffs work an average of 42 hours. Roughly 8% of all finance and accounting staffs are temporary or project workers. Budget and analysis and accounts receivable were the next most prevalent functions (11% for both). The majority of the people in finance departments are assigned to accounts payable or financial reporting functions (15% of staff allocation for both functions). Large companies with $5 billion or more in annual revenue often employ 1,000 or more finance people. Companies in the $500 million to $5 billion range, for instance, typically have between 44 and 50 people on their staffs. companies is 11, according to the benchmarking study, although that number varies widely depending on the size of the company. The median number of people in internal finance departments at U.S. "To operate with precision and achieve optimal productivity, companies need to identify areas of improvement, measure themselves against peers and competitors, and address fluctuating needs and priorities." "The finance function is undergoing a transformation amid a competitive business landscape and new regulations," says Marie Hollein, president and CEO of FEI. The study looks at nearly 200 public and private companies, with most of the respondents CFOs at manufacturing companies. ![]() How big is your finance department, and how does that compare with other companies? What's an average work week like for the finance staff at a manufacturing company? And is your adoption of financial technology at least on a par with your competitors and peers?įinance Executives International (FEI), a trade association for CFOs, treasurers and controllers, teamed up with professional staffing firm Robert Half to develop a benchmarking study that would provide metrics companies can use to measure their finance departments against similar organizations.
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