There’s so much that could be streamline about corporate financials and taxes. Finance is usually less than 4% of headcount though. Even if you cut it 50% that’s only a 2 percent savings of headcount expenses which are ~30-40% at a tech company. It’s not going to move the needle.
I wonder how much time actually goes into the quarterly filings. I’ve never worked for a company that didn’t do internal monthly reporting anyway. Some are even doing it weekly depending on the area. Anything with sales is reported weekly.
I think the bigger value is being able to think longer-term instead of stressing to hit a target every quarter. A lot of times companies pull in sales to hit the current quarter which makes the next quarter far more challenging. That keeps happening until there’s nothing to pull in, and you get an epic miss.
Thinking short-term also prevents proper investment in future products. Companies get caught in the rut of only designing new versions of existing products, since designing truly new products for new markets would require a large budget increase. Very few companies redeploy staff and rebalance across products aggressively enough. Budgeting is typically baseline plus some percent increase which is beyond stupid. It’s the lazy way out.