Make the Downturn Work For You

“The best companies do more than survive a downturn.  They position themselves to thrive during the subsequent upturn, guided again by a number of broad objectives.”
– Harvard Business Review (Febuary 2009)

Do you know where the opportunity lies for your company (and/or your career) during this time of great uncertainty?  In this blog post, we focus on the opportunities that await those determined to make the downturn work for them.

13 Massive Companies That Started During a Recession

“…if history proves to be any sort of reliable predictor, recessions have actually served as the launchpad for some of the world’s most incredible businesses.” – The Startup (Medium)
  Learn more here.

Turn Massive Challenges into Meaningful Change + Opportunities.

Accenture has done a remarkable job of effectively packaging insights from the firm’s experts in a simple and straightforward way to help organizations turn massive complexity into meaningful change.
Learn more here.


Robotic Software + Accounting Firms

Robotic Process Automation (RPA) is the use of a software robot or “bot” that replicates the actions of a human to execute tasks across multiple computer systems.  According to a 2015 Accenture report, robotics is predicted to automate or eliminate up to 40% of transactional accounting work by 2020.  Read this 2017 newspaper article from the StarTribune in Minneapolis to learn more about how robotic software is sweeping large accounting firms and their clients.


Croixstone Consulting CXO Patti Weber Completes Harvard Program

Congratulations to Croixstone Consulting’s Chief Experience Officer, Patti Weber, who this week successfully completed the Harvard Business School Club of Charlotte’sManagement Development Program“.

The Management Development Program, a “mini MBA” style course taught at Queens University, is a favorite with Charlotte-based corporations and is taught entirely by Harvard Business School alumni to program participants. The course offers rising executives the chance to study business one night a week for 13 weeks with a roster of some of the most prominent CEO’s, Presidents and Managing Partners in the Charlotte region.

In addition to participation by Croixstone Consulting, this year’s Harvard program included leaders from companies including: Bank of North Carolina, SYNOPTICS Northrup Grumman, Bank of America Merrill Lynch, Carolinas Medical Center, Schaeffler Group, ScentAir Technologies, Continental Tire, Snyder’s-Lance, Duke Energy, Carolina Cat, EnPro Industries, Skookum, National Gypsum Company, Ridgemont Equity Partners, Coats North America and more.

Patti completed the Harvard program to supplement her more than 20 years experience in helping global Fortune 500 companies and top-ranked public education schools implement forward-thinking and “game-changing” initiatives.  Her background includes diverse business experience in the technology consulting (Accenture) and workforce solutions (Kelly Services) industries.

As an active community leader, Patti is a Partner with Social Venture Partners Charlotte and serves on the group’s Education Committee.  Additionally, she serves as a volunteer Math Tutor at Charlotte’s Sedgefield Elementary School with Heart Math Tutoring and as PurpleStride Charlotte Teams Ambassador with the Charlotte Affiliate of the Pancreatic Cancer Action Network.

 


Croixstone Consulting is Official Supporter of International Fraud Awareness Week

Did you know that the typical organization loses 5% of its annual revenues to fraud? 

Croixstone Consulting has joined leading companies (including Accenture, Bank of America, Barclays Bank, Deloitte, EY, General Mills, Grant Thornton, IBM, Oracle, PricewaterhouseCoopers, TD and TIAA) in a global effort to minimize the impact of fraud by promoting anti-fraud awareness and education during International Fraud Awareness Week (November 13-19, 2016).

Sponsored annually by the Association of Certified Fraud Examiners (ACFE), International Fraud Awareness Week addresses the staggering cost of fraud.  According to the ACFE:

  • The organization analyzed 2,410 occupational fraud cases that caused a total loss of more than $6.3 billion
  • The median loss from a single case of occupational fraud was $150,000
  • More than 23% of occupational fraud cases resulted in a loss of at least $1 million
  • Median losses varied by region (USA = $120,000)
  • Of the three major categories of occupational fraud, financial statement fraud caused by far the greatest media loss per scheme
  • When owners or executives committed fraud, the median damage was more than 10X worse than when employees were the perpetrators
  • The more people conspiring in an occupational fraud, the higher the losses tend to be

Learn more about the ACFE and International Fraud Awareness Week here.