I was recently discussing with a colleague what differentiates our various clients. While each of them is undergoing improvement in some form, it is clear that some Offices of Finance perform significantly better than others. The basic difference often lies in their operations. Some run smoothly, with a quiet calm, timely submitted reports, and no finger-pointing; others are a chaotic mess, with deadlines always overdue, high turnover, and dirty mugs scattered around, half full of cold, bad coffee.
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From time to time every professional should take a step back and assess where they have been, where they are today and where they want to go. The Office of Finance is no exception. As we begin to plan for next year, we spent some time reflecting on what CFOs and their teams are tasked with. Based on our team’s collective experience in working with the Office of Finance, we have developed what we believe are key principles to succeed going forward. Read more
Outcomes are important for any Finance organization. There are many means to the end in working within the Office of Finance. Working with the right people to implement the plan and monitor the plan is one method. Building up processes to keep the focus on the right activities is another. The tools utilized to support people and the processes is another important factor. All three create the means to the end for the team. Read more
Many Finance professionals are faced with the daily task of solving problems. Whether they come from IT Services, the Business Intelligence team, or even the next cube over, we can never seem to fix enough.
The first, and most important step in solving problems is to identify them, otherwise known as Root Cause Analysis. The “5 Whys” methodology is far and away one of the most efficient methods for honing in on and conceptualizing the root cause of any dilemma you might come across.
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