MiFID II and the integration of ESG factors

The Regulation (EU) 2019/2088 of the European Parliament and of the Council (SFDR Sustainable Finance Disclosure Regulation) requires a financial product’s documentation to describe how its stated levels of sustainability or sustainability ambitions (e.g. ESG factors = Environment, Social and Governance) are to be achieved or are achieved. As it is not a labelling regime,… Continue reading MiFID II and the integration of ESG factors

The Supply Chain Act in Germany

According to the Supply Chain Act companies must ensure that human rights are respected in their supply chains, i.e. that no children work or forced labour takes place. This is about compliance with basic human rights standards. The aim is to improve the protection of human rights as there are 152 million child labourers worldwide,… Continue reading The Supply Chain Act in Germany

How Benchmarking leads to excellence

Market changes, social changes and technological progress lead to an ongoing need to adapt your business model. In order to remain competitive, changes are necessary, which have to be considered in strategy and planning and subsequently implemented. Benchmarking is a method to help you to identify performance gaps in comparison to other market participants. Strategy… Continue reading How Benchmarking leads to excellence

Finance Department Organization in SME’s

In a Small-Medium Enterprise (SME) several accounting and financial-related tasks are typically headed by the Finance Manager. Whereas in large corporates these tasks are separated under different responsibilities, in SME’s these are often bundled in the Finance Department. The Finance Department of a SME is therefore often composed of these departments: Accounting, Controlling, Treasury, IT… Continue reading Finance Department Organization in SME’s

7 Reasons Why Businesses Need Structure (In The Home Office)

The element of structure is paramount for any organization, especially one that involves remote working in home offices. Essentially, organizational structure encompasses formal and informal procedures and policies that a business owner can use to govern all the operations from a home-office. However, many home-based businesses don’t actually implement working structures in their operations because… Continue reading 7 Reasons Why Businesses Need Structure (In The Home Office)

When a verbal agreement doesn’t cut it

Contracts govern nearly every aspect of day-to-day life in ways one may not even realize. From accepting the Terms and Conditions of an app on our smartphones to haggling over prices at a neighborhood yard sale, contracts are a fundamental part of modern life. We’ll explain what are the benefits of a written contract vs… Continue reading When a verbal agreement doesn’t cut it

Impacts of Organisational Change on Employees

Change is an inevitable necessity for any business to be able to level up. However, it is not always welcomed with open arms by employees. Fear is a natural reaction that adjustments ignites and the mystery that comes with change. The tough truth is that a business can never make take step forward without making… Continue reading Impacts of Organisational Change on Employees

Accounting Trends for International Businesses

Today’s accounting department must not only deal with the collection of financial information, but has to deal with non-financial information, controlling, IT and process topics to demonstrate that valid, meaningful actual and planning data can be provided to various stakeholders. The increasing complexity should lead to more transparency, but accounting departments have to adapt to… Continue reading Accounting Trends for International Businesses

The DMAIC method to optimize support processes

Over the past decade, the framework conditions in nearly all industries have changed fundamentally. What at first glance looks like a global process of change is much more complex on closer analysis. Both the starting position, the direction and the extent of the necessary transformation processes in the industry are very different from region to… Continue reading The DMAIC method to optimize support processes

Optimizing invoice handling for a law firm

If a law firm wants to generate an improved cash inflow through a faster invoicing process, a simple and standardized billing process needs to be created. The optimizations should lead to a reduction of invoicing peaks and to an even billing over the year. The aim is therefore to enable a monthly billing of services… Continue reading Optimizing invoice handling for a law firm