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Year- end closing shor­tened by 30 days

Kinnarps

Brief description of the assignment

Due to a lengthy month end closing process management had to wait unacceptable long to get hold of the management report. The company was also facing too long annual closing, lack of clear processes with firm dead lines and too old non-interacting systems.

Capacent was hired to visualize the current situation and to develop and implement the process forward to for Kinnarps – a so called wanted position.

Results

Firmer deadlines and clear responsibilities was implemented as well as numerous improvements in Kinnarps financial processes to reduce non-value adding activities.

The lean finance project led to a shortened annual closing with 30 days together with improved quality in reported numbers. The month end closing process, together with compiling the management report, was reduced with 10 working days.