When things are not running smoothly in a project, when the data available is not of the quality required, it is not uncommon for everyone to point the finger at the finance department and its processes. At Intero Consulting, we are familiar with the typical and the less common pitfalls and we know how to avoid them.

 

In many respects, the finance department is the heart of a company: the crucial figures are all consolidated, held and prepared here so that they are available to manage the company. At the same time, this central role means that if there are problems, it is the area on which the general focus quickly falls, and other problems are covered over as a result. Lean and flexible processes with clearly delineated responsibilities ensure that the lever is always applied where the original problem is located.

 

  • The processes in finance have frequently grown up historically and are therefore not standardized, inadequately documented and inefficient.
  • Where there is no standardization for data delivery, data is either not provided at all or arrives in any old format, which makes preparation significantly more difficult and thus ties up valuable working capacity.
  • As the owner of the data, the finance department is naturally always in the firing line when data quality is questioned. In many cases, this obscures the view of the real causes which lie in other places.
  • Regular special queries, follow-up work and quality problems keep the finance department occupied constantly so that there is no time for improvements.
  • There is often insufficient time in day-to-day work to improve the tools. Out-of-date tools or, at worst, intensive manual tasks are therefore firmly anchored in the existing processes.
  • Intero Consulting supports you in analyzing your existing process landscape in the area of finance (reporting, budget management, approvals and authorizations, etc.) and in identifying possible weaknesses.
  • Building on this, we work with you to develop efficient new processes and in doing so, we can draw on a large pool of “best practices” from other similar projects.
  • We develop clever solutions for new tools and templates with you, which reduce the manual work in everyday processes.
  • And of course, we do not abandon you to your own devices when it comes to implementing new processes or tools. Comprehensible documentation and prompt communication ensures acceptance and thus guarantees sustainable success.
  • Leaner processes tie up less capacity and thus create space for the really important work. At the same time, process conformity is increased by growing acceptance.
  • Clearly defined responsibilities ensure transparency and increase the motivation of the employees involved.
  • System support that is as comprehensive as possible avoids manual work and helps to guarantee data quality.
  • Constant process monitoring facilitates early identification of problems and thus prevents critical situations.