lock search attention facebook home linkedin twittter

Reduction of the workload during the financial closing process

Construction Company

Challenge

  • Large finance organization with 60 employees in a both central and de-centralized organization, handling closing for more than 230 legal entities
  • A high workload due to inefficient processes, including non-standardized time-plans, lack of working routines and non-automated tools
  • Transactional focus rather than controlling and analysis supporting the organization

What we did

  • Mapping of current organization and processes including use of resources and systems
  • Workshops with staff in order to pinpoint solutions and co-jointly quantify potential of improvement and prioritization of initiatives
  • Presentation of improvements and targets for change with +30 achievable initiatives and a roadmap for implementation
  • Initiatives included changes in automation and standardization of processes
  • Estimation of potential and business case for large and measurable resource reductions within the organization

Result

  • Reduction of non-value adding activities with 9000 hours per year
  • Plan set to release another 40 hours per employee during yearly closing
  • Clear structures established including process maps, clear deadlines, responsibilities etc.