- Streamlining Finance Operations: The Power of Finance Process Redesign
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- If you agree with this statement… “Financial operations are critical to maintain our competitive edge.” ...you will appreciate this article.
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Take Assessment Watch Video- Leadership and Strategy in a Lean Environment
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- Lean has a longer and more colorful history than most of us think, with many Lean concepts predating Womack and Jones’s books on the subject. In fact, according to my research, many of the Lean concepts have been around for over 2500 years, and date back to ancient China. In the twentieth century, Henry Ford discussed ideas that we’d now describe as Lean, such as waste, teams, developing the people in his plants, and more. In fact, Ford’s work was one of the sources (along with US supermarkets and Japanese samurai) that Toyota looked to when they developed their Toyota Production System.
- CFO Talk: Improving Cash Flow with David Safeer
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- David Safeer , (https://cfo.university/library/contributor/david-safeer), is passionate about improving cash flow and maximizing the profits of his clients. In this CFO Talk he tackles these questions, 1. In your piece, Cash Flow Management: Being Unconventional, you note some dangers in following traditional cash flow advice. Would you fill in the blanks on why being unconventional is so important? 2. You propose a basic structure for implementing a solid cash management program. What are the steps?
Governance & Controls – structure and controls.
Transaction Recording – systems, transaction processing and closing the books.
Reporting - efficient, timely and accurate information for decision making and meeting compliance requirements.
Accounting
Business Planning - provide the financial roadmap for the company with supporting analytics.
Financial Forecasting - integrate the company’s current performance relative to budget with the real-time business environment.
Investment Analysis - the framework to analyze new opportunities as they present themselves.
Finance
Cash Management - the discipline to ensure cash is available to operate the business normally.
Funding - Planning for and raising funds to meet the needs of the business.
Risk Management – Identification and mitigation of key business risks.
Treasury
Self-Awareness - Internal.
Team Building - External.
Strategy & Culture – Motivate people to follow you.
Leadership
Four Pillars of Executive Expertise
CFO.University is built around the Four Pillars of CFO Success. These Pillars are supported with Core Competencies. Our framework allows you to master your role as a senior financial officer. The Four Pillars are made up of:
Accounting – Governance & Controls, Transaction Recording and Reporting
Finance – Business Planning, Financial Forecasting and Investment Analysis
Treasury – Cash Management, Funding (Capital Raising) and Risk Management
Leadership – Self Awareness, Team Building and Strategy & Culture
