Effective business support needs to spring from a strong foundation, and so finance functions need to get the basics right. Until they do, they will not have strong enough footing to offer credible insight and analysis at the upper end. This is where lean finance comes in.
When applying lean finance principles, finance teams focus on improving the efficiency and effectiveness of their core activities to enable:
Finance functions can then harness the resulting gains in quality and efficiency to improve the range, timeliness and integrity of their strategic business support.
In short, lean finance involves simplifying, streamlining and harmonizing essential finance processes to create a leaner, more efficient finance operation.
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The finance organization of the future, and indeed of today, must go beyond its business-as-usual