The Financial Department Must Believe That Time Is The Number One Competitor.

The traditional view is that the best way to obtain competitive advantage is to provide the highest value at the lowest cost.

Now, enterprises need to provide the highest value at the lowest cost in the shortest time to succeed.

The shortest time, including shorter time to provide customers with new technology products, shorter time to respond to customer service needs, including customers in the shortest time to learn to use products, in the shortest time to start machine equipment, and so on.

In the biography of Jobs, Qiao's understanding of the value brought by time is evident from one passage: "when apple just started designing the first generation of Mac Mcintosh computers, Jobs came to Larry Kenyon, who was the engineer responsible for designing the operating system for Mac.

Jobs told Larry directly that Mac was too long to start at the moment.

Larry's first reaction was to start explaining why.

But Jobs interrupted his explanation and asked him: if you could save a life, could you shorten the startup time by 10 seconds? Larry thought about it and said maybe he could do it.

Jobs pulled a white board and listed that if Mac sold 5 million units, and each machine started 10 more seconds per day, it would waste about 300 million minutes a year and 300 million minutes at least 100 people's life. By this simple formula, he was shocked.

After a week, Larry reduced the startup time of Mac by 28 seconds, and then the Mac system started faster than the PC system of the same period.

This world is not only the age of big fish eating small fish, but also the age of fast fish eating slow fish.

Time based competitive companies have the following characteristics:

Time consumption is listed as an important management and strategic index.

Use reaction force to approach customers and increase customers' stickiness.

Quickly turn the value delivery system to the most profitable customers, forcing competitors to turn to less profitable customers.

Set the pace of innovation in the industry.

Faster growth and higher profits than competitors.

Because of the importance of time to the company's competitive advantage, it is not difficult to understand that HUAWEI's Ren Zhengfei has been angry at the financial team in the e-mail of the company's internal president. We can't regard the matter in the mail as a financial department's work attitude or employee responsibility, but from a strategic point of view: the procrastination process will make the company's competitive advantage disappear and face the disaster of boiling frog style.

Despite the fact that companies with time competitive advantages are not immediately aware of the value of rapid response, flexible and quick response capabilities will benefit customers and companies in many ways: inventory decline, the possibility of customers cancelling or changing orders, the decision to buy at a time closer to needs, the acceleration of cash flow cycles, the provision of more customized services and products to customers, and so on.

Studies have shown that many enterprises' products or services are

Most of the time in the delivery system is spent on waiting.

The delay is mainly caused by the following reasons:

Process constraints, including minimum production or information volume, limitation of processing scale, schedule and schedule approval.

Quality problems include physical and mental rework due to improper design and inattention to detail.

Structural difficulties include the circuitous flow of products and information, the pmission between functional departments, and related facilities in different places.

Then, when a company wants to become a competitive advantage in time,

How should we react? The finance department should look at all relevant to itself.

To promote and implement an established plan to reduce the delays it brings to the organization.

When designing performance evaluation indicators such as HR and other departments, they focus on competitive cost, quality and responsiveness from past emphasis on competitive cost and quality.

It is not an easy task for the financial department to promote and execute plans that can quickly improve organizational responsiveness.

A company always has all kinds of plans and projects. The response plan needs to compete with talent plan, marketing plan, research and development plan, so as to strive for top management attention.

Therefore, the plan to improve organizational responsiveness must be promoted by the chief financial officer of the company and difficult to give to subordinates -- improving the responsiveness required to break the rigid practices across departments and departments and reduce delays.

At the same time, in order to maintain the pace of improvement and the consequent benefits, the financial sector must change its philosophy of operation. It must shift its attention from cost to time, and shift the goal from control and department optimization to providing resources to compress the whole organization operation process.

A company with time competitive advantage will bring time value to customers, and will bring its own good financial results: higher gross margins, faster inventory turnover, faster receivables turnover, higher asset turnover, higher ROE and higher sustainable growth rate.

As a forward-looking financial department, we must believe that time is the number one competitor of the company, and the financial department should be the promoter of the company's time competitive advantage.

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