Today’s competitive business environment is rapidly evolving - the digital economy, cloud technology, remote work, cybersecurity.  Leadership and expectations of the finance function are also evolving rapidly with an impact on the leadership of the Finance Function.  CPAs are now expected to participate actively in process improvement and the use of tools and concepts that help the organization achieve process efficiencies.  
 
LEAN concepts have been in use for decades in the core activities of many organizations, but are not commonly used or applied in the support functions.  A clear opportunity exists to use these same LEAN concepts such as process improvement, Six-Sigma, and value chain analysis, in order to help the organization achieve increased efficiencies.  ERP and RPA tools are also adding to the complexity of the role of the financial manager.  


Learning Objectives
By the end of this course, participants should be able to:
• Increase awareness of how LEAN concepts can be applied in the support functions of the organization, specifically in the finance function.
• Recognize opportunities to help organizations grow while successfully keeping costs of support functions as efficient as possible.
• Explore how RPA is creating significant opportunities to improve many non-value adding functions of the organization.
• Specifically, this course is intended to provide hands-on cases and examples so that participants are familiar with the use and implementation of the LEAN toolbox including:
      o History of LEAN
      o The Toyota Way and its 14 principles
      o Value-Chain analysis (using the APQC standard model)
      o Sources of Waste (MUDAS) in traditional functions such as the shop floor
      o Sources of Waste (MUDAS) in support functions such as finance
      o Process management: SIPOC and VSM models
      o Using Kaizen methodologies and A3 documents
      o Key performance indicators and linkages to the Balanced Scorecard model of Kaplan & Norton
      o Linkages and risks to internal control because of the use of  LEAN concepts and automation tools such as RPA.

Topics include:
• Nature and challenges facing the Finance Function in the era of rapid digital transformation
• Customer focus – internal and external – as a foundation of the use of LEAN concepts
• The main finance processes – financial accounting and management accounting
• Foundations of the LEAN methodology
o History of LEAN
o The Toyota Way and its 14 principles
o Value-Chain analysis (using the APQC standard model)
o The 8 Sources of Waste (MUDAS) in traditional functions such as the shop floor
o The 8 Sources of Waste (MUDAS) in support functions such as finance
o Process management: SIPOC and VSM models
o Using Kaizen methodologies and A3 documents
o Value Stream Mapping
o 5S, Poka-Yokes and visual control
• Bringing LEAN to the Balanced Scorecard
o The American Productivity and Quality Center (APQC) standard international value chain model
o The Kaplan & Norton balanced scorecard framework
o How to visually represent the value chain of your organization, adapting from the APQC standard model
o How to develop relevant Performance Indicators for specific business processes and functions
o Driving performance by building a coherent and aligned balanced scorecard for your organization
• Ideas and examples to improve the efficiency of the main accounting functions (O2C, P2P, PPE, Inventories, Budgets)
• The LEAN attitude and expectations of the Financial Manager
• Individual activities during the course:
o Is it a Process, an Activity, or a Task
o Brainstorm Poka-Yokes for the Finance Function
o 5S for the Office
• Group activities during the course:
o Case study and Workshop #1: Process Analysis. Using a SIPOC model to analyze a process
o Case study and Workshop #2: Digital transformation.  Identify some of the consequences and trends impacting the finance function because of digital transformation and use of tools like RPA
o Case study and Workshop #3: Sources of Waste.  Identifying sources of waste in a business process using the 8 MUDAS
o Case study and Workshop #4: Linkages of LEAN to the Balanced Scorecard.  Build a coherent and aligned Balanced Scorecard using the Kaplan & Norton 4 quadrants, plus indicators for ESG and Governance not imagined in the K&P model.

Prerequisites: Knowledge, Experience or Courses:
• No prerequisite seminars are required

Applicable For:
This seminar will be of benefit to those who occupy roles in the financial management function of the organization, its risk management, or its governance.
• The seminar is oriented to all levels; those beginning their careers in the management of the finance function, new controllers and directors of finance, and seasoned professionals looking to explore emerging issues related to internal controls. 
• This seminar is oriented towards SME organizations, but the material is of benefit to all organization types including not-for-profit organizations.