Insights from The Lab

Lean Finance Function

Category: Lean Finance Function


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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Banking Cost Cutting Measures For Shared Services Groups

This article tells the story of another true case study. And it probes a seemingly perpetual and nagging cost drain on banks: Human resources.

The bank in this case study is one of the oldest financial-services institutions in the United States. It’s also highly HR-dependent. That’s because it manages 18,000 employees, scattered across 11 different states. There was a lot at stake here.

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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.