Finance function activities, benchmarking (continuation of 7-27). Martin Weber, CFO of Bouquets.com, engages The Hackett Group, a consulting firm specializing in benchmark- ing. He asks Hackett to provide benchmark data of the finance function at "world-class" retail companies (both traditional retail and Internet-based retail). Hackett's cost benchmarks for Bouquet.com's three finance activities are

REQUIRED 1. What new insights might arise with the Hackett benchmark data using the amounts in Exercise 7-27?
2. Assume you are in charge of travel-claim processing. What concerns might you have with Weber using the Hackett benchmark of $1.90 per‘travel claim as the key to evaluate your performance next period?LO1

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Finance Activity Receivables Payables Travel expenses "World-Class" Cost Performance $0.12 per remittance $0.85 per invoice $1.90 per travel claim