Top 10 BENEFITS of applying LEAN FINANCE* in your business..
1. Transform your Financial team to be your strategic business partner by providing real time quantitative insight to shape/ navigate your organization accordingly.
2. Financial Team in reviewing processes across departments can help reduce waste in the form of over processing, inaccurate and meaningless reports that few can understand or utilize.
3. Finance function will be integrated with the entire management system ,thus allowing better perspectives leading to ,more accurate action
4. Duplicate activities are eliminated and freed capacity can work towards establishing agreed targets for the whole organization by using next Value Stream Mapping tools. Hence, real improvement is achieved by aligning operations to value stream.
5. Standard plain financial statement in metric form can help everyone be on the same page. Conventional financial statements are complex, difficult to understand.
6. This holistic approach will nurture appropriate culture and mindset and ultimately encourage the pursuit of perfection
7. Invisible processes and system will be made visible and displayed publicly through use of appropriate tools and techniques. Thus the environment wills be more transparent and healthy.
8. Staff morale and productivity will be enhanced through elimination of unnecessary variations, errors and thus freeing up capacity.
9. Provide highly competitive competence for better performance by empowering staff with commercial sense and innovation to meet clients’ needs.
10. Lastly, it will make your organization lean and mean by strengthening your financial performance and position. In short, Value, Revenue, Capacity and Cash are enhanced but Waste is reduced.