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Finance & Planning Process Improvement Becky Collins, MBA Consultant Finance Management
Project Objective Positively impact the value of FP&A services with measurable results.
Project Methodology <ul><li>Define Goals and Deliverables </li></ul><ul><li>Analyze Current Situation </li></ul><ul><li>As...
Define Goals and Deliverables <ul><li>Goals: </li></ul><ul><li>Efficiency   = </li></ul><ul><li>Accuracy   = </li></ul><ul...
Analyze Current Situation <ul><li>Study and/or Document Present Process </li></ul><ul><li>Define Deadlines </li></ul><ul><...
Assess Targets for Change <ul><li>Technical Resources </li></ul><ul><li>Technical Support </li></ul><ul><li>Human Resource...
Create Procedural Manual <ul><li>Begin an Instruction File/Folder </li></ul><ul><li>Document Procedure Step-by-Step </li><...
Implement New Process <ul><li>Strictly Adhere to Instruction </li></ul><ul><li>Red Line Errors and Imprecise Instruction <...
Measure: Six Sigma Concept <ul><li>Define Data Measurements  (Absolute Values) </li></ul><ul><li>Identify Time Cycle </li>...
Train End User of Process <ul><li>Strictly Adhere to Manual </li></ul><ul><li>Assure User Friendly Instruction </li></ul><...
Transition Process to Users  <ul><li>Provide Support Services </li></ul><ul><li>Meet with Direct Supervisor and Users </li...
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Finance Process Improvement

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Process Improvement Developed Using Risk Management Principals

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Transcript of "Finance Process Improvement"

  1. 1. Finance & Planning Process Improvement Becky Collins, MBA Consultant Finance Management
  2. 2. Project Objective Positively impact the value of FP&A services with measurable results.
  3. 3. Project Methodology <ul><li>Define Goals and Deliverables </li></ul><ul><li>Analyze Current Situation </li></ul><ul><li>Assess Targets for Change </li></ul><ul><li>Create Procedural Manual </li></ul><ul><li>Implement New Process </li></ul><ul><li>Measure Using Six Sigma Concepts </li></ul><ul><li>Train End Users on Process </li></ul><ul><li>Transition Process to Users </li></ul>
  4. 4. Define Goals and Deliverables <ul><li>Goals: </li></ul><ul><li>Efficiency = </li></ul><ul><li>Accuracy = </li></ul><ul><li>Effectiveness = </li></ul><ul><li>Higher Skills = </li></ul><ul><li>Accountancy = </li></ul><ul><li>Communication = </li></ul><ul><li>Deliverables: </li></ul><ul><li>New Process </li></ul><ul><li>Controls </li></ul><ul><li>Service </li></ul><ul><li>Training </li></ul><ul><li>SOP Manual </li></ul><ul><li>Documentation </li></ul>
  5. 5. Analyze Current Situation <ul><li>Study and/or Document Present Process </li></ul><ul><li>Define Deadlines </li></ul><ul><li>Analyze Relative Financial Reports </li></ul><ul><li>Review Employee Feedback </li></ul><ul><li>Review Customer Feedback </li></ul><ul><li>Create a Baseline for Six Sigma </li></ul>
  6. 6. Assess Targets for Change <ul><li>Technical Resources </li></ul><ul><li>Technical Support </li></ul><ul><li>Human Resources </li></ul><ul><li>Accounting Skill Levels </li></ul><ul><li>Technical Skill Levels </li></ul><ul><li>Department Policies </li></ul><ul><li>Specify Areas for Change </li></ul>
  7. 7. Create Procedural Manual <ul><li>Begin an Instruction File/Folder </li></ul><ul><li>Document Procedure Step-by-Step </li></ul><ul><li>Determine Efficiency of New Procedure </li></ul><ul><li>Check for Accuracy </li></ul><ul><li>Modify Procedure </li></ul><ul><li>Format Instruction for Entry into Manual </li></ul><ul><li>Insert Instruction Pages </li></ul>
  8. 8. Implement New Process <ul><li>Strictly Adhere to Instruction </li></ul><ul><li>Red Line Errors and Imprecise Instruction </li></ul><ul><li>Revise Ineffective Procedures </li></ul><ul><li>Red Line Revisions </li></ul><ul><li>Edit New Instruction </li></ul><ul><li>Update Manual with New Instruction </li></ul>
  9. 9. Measure: Six Sigma Concept <ul><li>Define Data Measurements (Absolute Values) </li></ul><ul><li>Identify Time Cycle </li></ul><ul><li>Chart Baseline </li></ul><ul><li>Create Relevant Graphs </li></ul><ul><li>Chart New Data </li></ul><ul><li>Evaluate Charts & Graphs for Trends </li></ul><ul><li>Document Six Sigma Instruction </li></ul>
  10. 10. Train End User of Process <ul><li>Strictly Adhere to Manual </li></ul><ul><li>Assure User Friendly Instruction </li></ul><ul><li>Evaluate User Skills </li></ul><ul><li>Insert Necessary Enhancements for User </li></ul><ul><li>Coach User on Red Line Editing </li></ul><ul><li>Teach Six Sigma Process </li></ul>
  11. 11. Transition Process to Users <ul><li>Provide Support Services </li></ul><ul><li>Meet with Direct Supervisor and Users </li></ul><ul><li>Solicit Detailed Feedback </li></ul><ul><li>Document Every Concern </li></ul><ul><li>Take Action to Resolve Concerns </li></ul><ul><li>Document Actions Taken </li></ul><ul><li>Relinquish Responsibility </li></ul>
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