Insights from The Lab

Finance Transformation

Category: Finance Transformation


Finance Transformation: Finance Process Improvement with Lean Implementation

FINANCE TRANSFORMATION SERVICES AND PROCESS IMPROVEMENT –  FROM LEAN TO ULTRA-LEAN – WITHOUT NEW TECHNOLOGY No matter what methodology you currently employ to boost productivity—whether it’s “voice-of-the-customer” analysis, Six Sigma, Lean, value-stream mapping, “Staple Yourself to an Order,” and/or balanced scorecard (KPI) implementation—The Lab can take your finance function to all new levels of lean …

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How to Improve Finance Function Processes with Lean Finance and Accounting Transformation

This client initiative summary case study on lean finance process improvement and transformation concerns a Top 5 U.S. bank, a leader in residential mortgages and small-business lending. They were under pressure to undertake a lean finance and accounting transformation. And they were facing continuing cost increases—higher than what management desired. Despite bank-wide growth, they needed …

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The CFO: Industrial Engineer of Knowledge Work

“Our business is unique, so our knowledge work can’t be standardized.”

This belief is almost universally accepted—but almost universally untrue. I call it the “anti-standardization bias.” It reinforces the status quo and hides the business improvement opportunity of our time: the standardization of knowledge work.

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Cost Reduction Strategies and Examples of Cost Cutting with Lean Methods

In this article, we’re going to focus on more hiding-in-plain-sight cost-reduction ideas. Specifically, we’ll explore three drains on business value that you can start plugging today.

Perceiving the potential of knowledge work standardization is difficult. That’s because it’s not on the balance sheet. Accounting rules mandate that the activities of knowledge workers appear as expenses on the income statement. But these competencies are the most valuable, albeit intangible, assets in the business!

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Improvements from Start-to-Finish

Since opening its doors in 1993, The Lab has helped some of the best companies in the world become even better.