Insights from The Lab

Finance

Category: Finance


Finance Group & Procurement: Retailing

Project Background This company operates a chain of more than 500 luxury department stores and off-price designer outlets, as well as a direct-to-consumer ecommerce division. The “new” CFO was a longtime employee recently promoted from within—after a brief stint in IT as part of a management rotational program. From this IT assignment, he learned that …

Read More

Global Shared Services: Design and implementation of a standardization road map for global shared-services operations

Situation The new COO of this retailer’s Global Shared Services (GSS) Center had spent nearly her entire career in similar global-scale shared-services centers. Five years prior, she was recruited by a colleague who had earlier joined the retailer from a large defense contractor’s shared-services organization where they had both worked. Her career move paid off …

Read More

The Top 5 Robotic Process Automation Implementation Critical Roadblocks to Avoid

1. Information security (IS) blocks, delays the start of RPA development Excessive IS “over-caution” delays RPA development and launch—often by months. The IS reasoning is rarely disclosed, but The Lab suspects it may result from a lack of understanding by the IS organization of how RPA works at a detailed level. RPA bots simply automate …

Read More

Robotic accounting – 5 use cases, a case study, and examples of RPA in finance and accounting departments

Robotic process automation (RPA) is rapidly changing the accounting and finance operations, arguably faster than any other piece of modern technology. But a question remains. Why? Why is RPA becoming so popular? Why is it making robotic accounting a term to follow? Just for starters, it can be used to reduce data transcribing tasks by …

Read More

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.