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Finance Project

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  • #37723

    sue
    Member

    I am trying to generate a project in Finance department for a Laboratory business…Any ideas?
    Sue

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    #111596

    Rodrigo Carrillo
    Member

    I would suggest by starting with process mapping and looking at controls, just as SOX certification requires.
    I don’t think you will find any root cause in finance as they’re only consolidating other’s information, but they’re a very good source to find areas that spends a lot of money…

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    #111610

    Marc Thys
    Participant

    A good question to ask is always: “what is the business problem?”. Works regardless of business sector or department.
    Sounds obvious – but you would not believe the number of projects that get launched without a proper business case & problem statement, just because some Black Belt needs to have a project.

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    #111654

    Bob D
    Participant

    Well, first you have to look at what are your businesses CTQs, and how does Finance contribute to them?  One area of finance that I think would lend itself to a lot of transactional projects is the treasury function.  I’m a new BB, and in the finance area, and see a lot of opportunities in the treasury area.  

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    #111832

    sue
    Member

     Bob D,
    To ansewr your questions…
    Expenses and Organizational Stability are CTQ.
    I am not quite sure what are transactional projects in the treasury function.  Help me understand this part better.
    We are dealing with the laboratory and the departments with Finance are: Expense, Budgeting, Forecasting, Licensing, Fixed Asset and Accounts Receivable (do not have accounts payable in this facility).Within Expense Department, Overtime and Temporary Agency cost seem to be big concerns.
    Could you share the opportunities in treasury area you are referring to?
    Thanks,
    Sue
     

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