Lean Accounting Series : Article 1 - Neither your way, nor our way, just the CFO way

Tune in to find out how lean accounting can help you.

Picture this. A bustling office with employees talking across the office floor, telephones ringing, papers piled up on all the desk as far as your vision goes, employees chasing information, a search for important documents is being carried out in a pool of files lying all over the place, a sense of urgency in the voices around.

Sounds like the description of how your accounting and finance team operates? It is time you asked the most important question: Is your team productive enough to reach the desired objective?

If you answered no then read on to understand how to convert it to a yes, if you answered yes there’s still something new to learn here.

An analysis of the productivity brings out the core element of wastages to the forefront. Identifying the wastages is one thing and changing the processes in order to minimize the wastages is a different ball game altogether. It is often seen that teams are downsized or people are replaced with machines with an expectation to increase productivity and reduce wastage. This often leads to an adverse effect rather than changing things for the better. Newgen CFO services focuses on long term solutions rather than knee jerk reactions.

A better approach walks in at this point: Lean, higher productivity lesser wastage. A term which was coined for the factory floor is now seen marching towards offices. Lean focusses on better execution of the accounting function, reducing man hours, eliminating redundant activities and thereby streamlining the accounting process.