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Press Release
Contact: Bill Larkin
Phone: (781)248-4169
FOR IMMEDIATE RELEASE
5 P.M. EDT, February 4, 2010
KEY SPONSOR OF CFO MAGAZINE CONFERENCE ON CORPORATE PERFORMANCE MANAGEMENT; WORKSHOPS HELP CFO's PROTECT UP TO 7% OF TOTAL REVENUES FROM RISK OF FRAUD
NEW YORK, NY FEBRUARY 4, 2010: This week in New York City, Executive Alliance, the nation’s leading independent provider of Payroll and Human Capital Management (HCM) consulting services, was a featured sponsor of CFO Magazine’s conference on Corporate Performance Management. Focusing on how the use of data and analytics can be used to effectively drive corporate strategy and improved performance, the conference drew more than 150 chief financial officers and senior finance professionals across a wide range of industries.
As a featured sponsor, Executive Alliance demonstrated its commitment to helping companies optimize performance in the Payroll and Human Capital Management (HCM) operation, and manage all aspects of the Total Cost of Employment. The fastest growing expense in most corporations, the rapidly rising costs of benefits and wages means that CFO’s are taking a close look at scrutinizing internal controls, looking out for occupational fraud, and ensuring they are not incurring cost overruns due to administrative errors or systems issues.
“Despite internal controls and audit initiatives, companies are at risk” says Lisa Teague, Principal Consultant and Leader of the Executive Alliance Payroll practice. “The recent audit report 2008 Report to the Nation on Occupational Fraud from the Association of Certified Fraud Examiners cited in its findings that companies of all sizes and across all industries lose an average of 7% of total revenues per year due to occupational fraud. And that doesn’t include the costs of inefficient operations.”
• Executive Alliance conducted roundtable breakfast forums to discuss best practices for avoiding occupational fraud.
• Additionally, Executive Alliance led a 50-minute master class on strategies for avoiding surprises in cost, compliance, risk and fraud in the payroll area.
“In almost all of our client engagements, we identify employee overpayments due to inaccuracies or negligence, and undetected fraud in nearly 40% of our payroll customers’ operations,” says Bill Larkin, Principal at Executive Alliance. “Organizations count on their people, their controls, and their technology to prevent this from occurring, but sometimes those controls still let them down.”
“Our participation with CFO Magazine’s Corporate Performance Management Conference is good example of the many strategies we have in place in 2010 to reach out to CFOs on this important topic” says Kevin Mallett, Chief Executive Officer of Executive Alliance. “Our assessment services typically provide a 10x return on investment for our clients. Our payroll practice is the fast growing part of our business because we’re seeing an increase in companies focusing on improving internal controls, driving down unnecessary payroll and benefits expense, and fully leveraging systems investments.”
About Executive Alliance
Headquartered in Marlboro, MA and specializing in Payroll and Human Capital Management (HCM), Executive Alliance is the longest continually operating, private vendor neutral advisory firm in the country. We help companies reduce employee compensation expense, optimize systems, comply with related government regulations and mitigate business risks. Our services help corporations of all sizes manage their largest expense, employee compensation, and their fastest growing expense, benefits. Our team of experts uncovers opportunities for savings across all the business processes associated with the administration and payment of employee compensation and benefits. For more information, contact Bill Larkin at 781-248-4169, or visit www.executivealliance.com.
Press Release
Contact: Bill Larkin
Phone: (781)248-4169
FOR IMMEDIATE RELEASE
5 P.M. EDT, February 4, 2010
As a featured sponsor, Executive Alliance demonstrated its commitment to helping companies optimize performance in the Payroll and Human Capital Management (HCM) operation, and manage all aspects of the Total Cost of Employment. The fastest growing expense in most corporations, the rapidly rising costs of benefits and wages means that CFO’s are taking a close look at scrutinizing internal controls, looking out for occupational fraud, and ensuring they are not incurring cost overruns due to administrative errors or systems issues.
“Despite internal controls and audit initiatives, companies are at risk” says Lisa Teague, Principal Consultant and Leader of the Executive Alliance Payroll practice. “The recent audit report 2008 Report to the Nation on Occupational Fraud from the Association of Certified Fraud Examiners cited in its findings that companies of all sizes and across all industries lose an average of 7% of total revenues per year due to occupational fraud. And that doesn’t include the costs of inefficient operations.”
• Executive Alliance conducted roundtable breakfast forums to discuss best practices for avoiding occupational fraud.
• Additionally, Executive Alliance led a 50-minute master class on strategies for avoiding surprises in cost, compliance, risk and fraud in the payroll area.
“In almost all of our client engagements, we identify employee overpayments due to inaccuracies or negligence, and undetected fraud in nearly 40% of our payroll customers’ operations,” says Bill Larkin, Principal at Executive Alliance. “Organizations count on their people, their controls, and their technology to prevent this from occurring, but sometimes those controls still let them down.”
“Our participation with CFO Magazine’s Corporate Performance Management Conference is good example of the many strategies we have in place in 2010 to reach out to CFOs on this important topic” says Kevin Mallett, Chief Executive Officer of Executive Alliance. “Our assessment services typically provide a 10x return on investment for our clients. Our payroll practice is the fast growing part of our business because we’re seeing an increase in companies focusing on improving internal controls, driving down unnecessary payroll and benefits expense, and fully leveraging systems investments.”
About Executive Alliance
Headquartered in Marlboro, MA and specializing in Payroll and Human Capital Management (HCM), Executive Alliance is the longest continually operating, private vendor neutral advisory firm in the country. We help companies reduce employee compensation expense, optimize systems, comply with related government regulations and mitigate business risks. Our services help corporations of all sizes manage their largest expense, employee compensation, and their fastest growing expense, benefits. Our team of experts uncovers opportunities for savings across all the business processes associated with the administration and payment of employee compensation and benefits. For more information, contact Bill Larkin at 781-248-4169, or visit www.executivealliance.com.