Peter Taylor, Corporate Controller at Purple Innovation, joins the Leaders of Modern Finance podcast on this episode to share the framework he follows to ensure that his department is running at maximum efficiency. This process, developed over the course of his career, is a valuable tool for any corporate finance professional.

Peter starts with the importance of planning. He admits that he’s not always the best at planning in his personal life, but asking the right questions to make sure the plan is a comprehensive and efficient one is critical to success.

He also suggests leaders jump into researching new tools that can provide automation and efficiency in the daily operations of your department. This may also affect your decision-making on human resources. If you’re running more efficiently, you might not need to bring on new hires.

Peter is also a big fan of documentation. He loves email as a documentation tool to ensure everyone has a clear understanding of the plan, goals, and objectives of the department. Clear documentation helps the team work toward a common goal.

Resources:

This episode is brought to you by Stampli. The Most Powerful Way to Process & Pay Invoices.

Stampli is the only Accounts Payable Automation software that centers communications on top of the invoice so that accounts payable collaborates better with approvers, vendors, and anyone involved with purchases to quickly resolve issues and questions, resulting in 5x faster approvals.

Contact us to see why users love using Stampli and schedule a demo at Stampli.com.