CFOs Looking To Make Remote Work, Telecommuting More Permanent Following COVID-19, Says Gartner Stud

Consigliere

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One of the biggest ways that I add value as a PM is actually being in the office. I worked from home the last 2 weeks and the productivity drop from me and my colleagues was noticeable. Hopefully your job is more conducive to telework than mine.
 

Json

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You’re making separate arguments. If you’re a FT employee, the company still owns your time, if you’re a freelancer with more autonomy to decide hours, cool. But I don’t see a situation where more companies decide to provide benefits to freelance workers, that’s the whole reason they use freelancers, not to have to provide health, retirement, stock, life insurance, etc.
No I’m taking about decoupling healthcare and other benefits from your employer. The more people put into this position, the more these types of decisions will come into question.

There was a mutual benefit to the employer providing healthcare. 8hrs of work with a lunch and breaks in the office. But telling a smoker not to smoke in their own home because they are on company time and you control their healthcare is the kinds of dilemmas that will pop up when more regular employment looks like freelance work.
 

Hood Critic

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Can’t hit happy hour and have it transition to a night out :wow:
I do it all the time when I can sneak a Friday in WFH. Everyone who is in the office is logging out early like normal and since I'm going the opposite direction as those leaving downtown, I can slide right into the city and pull up on my co-workers and the homies for after work shenanigans. Best part about it, I'm dressed comfortable because I've been at the crib all day and not in work attire.
 

CrimsonTider

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I'm a controller, my next gig will be as a CFO. I'm with it. I'm working from home. I got the two screen setup at the crib. I'm rocking and rolling.

what the size of your company and what industry?

finance/ more so accounting will be hard to do as 100% WFH

what companies are processing payroll over public WiFi?

who’s cutting checks to vendors from their homes?

and those are just basic functions but with the segregation of duties there has to be a level of face to face collaboration


I know in public all the 1st year and 2nd year are so behind due to not being in the room with managers and seniors
 

dora_da_destroyer

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I do it all the time when I can sneak a Friday in WFH. Everyone who is in the office is logging out early like normal and since I'm going the opposite direction as those leaving downtown, I can slide right into the city and pull up on my co-workers and the homies for after work shenanigans. Best part about it, I'm dressed comfortable because I've been at the crib all day and not in work attire.
That’s more about right now...no bars open
 

nyknick

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Exactly what a nikka needs. I need a desk and desk chair as well, I don’t have that in my apartment. I also need to company to let us print from our own person printers, but I doubt the bank would go for that :francis:
So basically you just have an empty room :dead:

"Yeah I'm gonna need two monitors, a laptop, a desk, couple of chairs, a printer, carpet as well. And just have to see if company would provide me with some drapes because it gets crazy sunny in the afternoon" :mjlol:
 

Atlrocafella

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So basically you just have an empty room :dead:

"Yeah I'm gonna need two monitors, a laptop, a desk, couple of chairs, a printer, carpet as well. And just have to see if company would provide me with some drapes because it gets crazy sunny in the afternoon" :mjlol:
:dead: when I work from home, I’m usually on the couch with my laptop. I don’t really have a work space, but I know that eventually needs to change :yeshrug:
 

Panther

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Exactly what a nikka needs. I need a desk and desk chair as well, I don’t have that in my apartment. I also need to company to let us print from our own person printers, but I doubt the bank would go for that :francis:

I've been 1 of 2 people in our entire office (75-80 people) who have been going into the office a few times a week just for this reason since rona popped off.


Ive enjoyed working from the crib for the most part tho, not dealing with traffic and working in my boxers is fantastic. When things get back right i need at least 2 permanent days a week at the crib
 

iceberg_is_on_fire

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what the size of your company and what industry?



finance/ more so accounting will be hard to do as 100% WFH

what companies are processing payroll over public WiFi?

who’s cutting checks to vendors from their homes?

and those are just basic functions but with the segregation of duties there has to be a level of face to face collaboration


I know in public all the 1st year and 2nd year are so behind due to not being in the room with managers and seniors


what the size of your company and what industry?

160 people, we are a non-profit that works in healthcare and education.

finance/ more so accounting will be hard to do as 100% WFH

depends on the position. accounts payable needs to be at an office for some days through a week since only 80% of our invoices are sent to us electronically. we still receive paper checks that needs to be deposited in the bank

what companies are processing payroll over public WiFi?

We work through ADP workforce, our payroll person has always had the capability of doing that online. everyone is on direct deposit. that's how deposits are getting to us now. I input my team's time in and approve their time. Since we are salaried, it's just 8 hours across the board for us. We get the post payroll files such as our statistic summaries so that I can check to make sure net pay, garnishments and taxes are correct so that we can then upload that file in our accounting system. If you saw on the previous page, we use NetSuite.

who’s cutting checks to vendors from their homes?

This can be done but due to segregation of duties, the CFO or the CEO would have to sign them anyways. Our check stock is on location, where it should be anyways, under lock and key. This would need someone to be there every so often but from my position, I don't need to be there for this.

and those are just basic functions but with the segregation of duties there has to be a level of face to face collaboration

We have automated a lot of these things to be done electronically. Case in point, when we have a request for a purchase order, depending on the department and the denomination of the request, it gets routed to a certain person and if it is out of line with the budget or over-exceeds budgeted costs, it will bypass all of us and go directly to the CFO. Our CEO doesn't approve anything but still, at a certain threshold like when we had to revamp all of our computer stuff, we went to the board with that. Invoices and journals that my staff creates goes to me for review. Anything that I create along the same lines since I do things currently like fixed assets, loans and some other money market account stuff in addition to some reclasses of bills and other journals, she will have to approve. Typical accounting things but we have a fairly solid segregation of duties. We are bound by certain restrictions anyways by the software. Only two of us had administrator access to everything financial and that is myself with the CFO. That said, since everything leaves a paper trail, it's not like I can go in and change something or issue something without her knowing I did it. Same thing with the bank account, I can push your ACH payments but she will ultimately have to sign off on it. All of the interactions between she and I can be done remotely.


I know in public all the 1st year and 2nd year are so behind due to not being in the room with managers and seniors

What they got them doing that they are behind? Why in year 2 are people behind? Its shyt or get off the pot time by then. What is slowing them up, seriously?

Great questions. How does the answers to these questions look on your end?
 

CrimsonTider

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what the size of your company and what industry?

160 people, we are a non-profit that works in healthcare and education.

finance/ more so accounting will be hard to do as 100% WFH

depends on the position. accounts payable needs to be at an office for some days through a week since only 80% of our invoices are sent to us electronically. we still receive paper checks that needs to be deposited in the bank

what companies are processing payroll over public WiFi?

We work through ADP workforce, our payroll person has always had the capability of doing that online. everyone is on direct deposit. that's how deposits are getting to us now. I input my team's time in and approve their time. Since we are salaried, it's just 8 hours across the board for us. We get the post payroll files such as our statistic summaries so that I can check to make sure net pay, garnishments and taxes are correct so that we can then upload that file in our accounting system. If you saw on the previous page, we use NetSuite.

who’s cutting checks to vendors from their homes?

This can be done but due to segregation of duties, the CFO or the CEO would have to sign them anyways. Our check stock is on location, where it should be anyways, under lock and key. This would need someone to be there every so often but from my position, I don't need to be there for this.

and those are just basic functions but with the segregation of duties there has to be a level of face to face collaboration

We have automated a lot of these things to be done electronically. Case in point, when we have a request for a purchase order, depending on the department and the denomination of the request, it gets routed to a certain person and if it is out of line with the budget or over-exceeds budgeted costs, it will bypass all of us and go directly to the CFO. Our CEO doesn't approve anything but still, at a certain threshold like when we had to revamp all of our computer stuff, we went to the board with that. Invoices and journals that my staff creates goes to me for review. Anything that I create along the same lines since I do things currently like fixed assets, loans and some other money market account stuff in addition to some reclasses of bills and other journals, she will have to approve. Typical accounting things but we have a fairly solid segregation of duties. We are bound by certain restrictions anyways by the software. Only two of us had administrator access to everything financial and that is myself with the CFO. That said, since everything leaves a paper trail, it's not like I can go in and change something or issue something without her knowing I did it. Same thing with the bank account, I can push your ACH payments but she will ultimately have to sign off on it. All of the interactions between she and I can be done remotely.


I know in public all the 1st year and 2nd year are so behind due to not being in the room with managers and seniors

What they got them doing that they are behind? Why in year 2 are people behind? Its shyt or get off the pot time by then. What is slowing them up, seriously?

Great questions. How does the answers to these questions look on your end?
Audit quality is going to take a drastic hit

Problem solving is much more time consuming when everyone is not in the same room with each other

1st years don’t have a real clue what they’re doing the growth comes from seniors and managers being able to guide and advise you right away

Also it’s hard as hell to get any consistency and rhythm with clients when everything is over email and phones.

plus, not a single audit deadline has been extended and the Cares act brought in more complex compliance
 

Vandelay

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I'm a controller, my next gig will be as a CFO. I'm with it. I'm working from home. I got the two screen setup at the crib. I'm rocking and rolling.

I have a dual monitor setup with a docking station in my crib too. I'm rolling. Sweet ass L-Shaped desk too.

That said, I still prefer interaction in an office environment. I think there will be tradeoffs that take awhile for the country to adapt to if this becomes the norm.
 

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Audit quality is going to take a drastic hit

Problem solving is much more time consuming when everyone is not in the same room with each other

1st years don’t have a real clue what they’re doing the growth comes from seniors and managers being able to guide and advise you right away

Also it’s hard as hell to get any consistency and rhythm with clients when everything is over email and phones.

plus, not a single audit deadline has been extended and the Cares act brought in more complex compliance

When it comes to auditing, then yeah, I definitely see it. This will be the third year of audit with the same firm and I've worked with everyone so I already know what the audit PCB list looks like. What I've done over the course of this fiscal is change things over to an audit ready format so when we submit files online for review, we don't have to do the dance of sending files back and forth. There are some things that I'll have to itemize out like accrued payables or what is in prepaids but basically, the things that we already keep schedules for, they are ready to go. Just need to make sure the A/R is right and we don't have to do any material adjustments after we send the trial balance. Our fiscal is from July to June. I'm hoping to be done with everything by July 1, soft close the year with the exception of a few items so that when our audit begins in August, we fly through it. So, in light of all of this, I'm largely prepared and I have good rapport with the auditors. May is supposed to be the month when they were to stop by to get prelims but that too can be done electronically. The auditors know our book of business well so that should give them a better starting point this year as well. In my case, the main audit of the company falls on my shoulders. The CFO deals with the 990 audit. That's how it is broken up with us

So I'm guessing that you are an auditor and your director/partner is or was trying to line up new clientele but this is making it rough?
 
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