For a CFO, it's not just about dollars and cents, but also about control, efficiency and risk mitigation. The question is: do you really have your house in order?
Here's a simple nine-question checklist that will quickly show you how much control you have.
Cost control
- Do you have a comprehensive overview of all housing costs in the projects?
- Have you ensured the right booking conditions based on the needs of the project?
- Do you have a standardized booking profile that everyone follows?
Administration
- Do you receive invoices for all accommodation from one partner?
- Do you know how many hours the finance department spends on accommodation management per year?
- Do you have structured flow instead of expense management?
Traceability
- Do you know exactly which employees lived where, and at what cost?
- Do you follow up and evaluate after the project has ended?
- Do you have real-time data on how much you spend?
How to interpret the result
- 8-9 Yes, you have good control, but there are often savings to be made anyway.
- 5-7 yes you are probably paying 10-20% more than necessary.
- 0-4 yes you probably pay 30-50% more than necessary.
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