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Code Date Venue Fees  
FI37 06 Jul - 08 Jul Istanbul $4475 Register

The layout of this course is designed as a highly participative interactive workshop with case studies, formal presentations, course materials and interactive solution driven examples. Relevant case studies, guides and examples are provided to visualize the applications of each topic discussed and the opportunities are also provided to practice and learn the usage of modern yet powerful tools and skills supported with practical exercises and relevant examples.


Who Should Attend?

  • Chief financial officers and finance directors
  • Financial managers and financial controllers
  • Collection managers and accounts payable
  • Planning professionals and budget
  • Finance professionals, accountants, and financial advisers
  • Managers prepared with a potential to assume the essential key posts in the organization

Course Objectives:

The objectives of the course are to enable delegates to:

  • Develop the tools and concepts to indulge in the participation of the transforming finance functions into a
    business partner is driven by focused value and to identify the key challenges facing today’s finance functions.
  • Understand the procedure and process by which their company and its finance team develops and delivers value-added key features to its stakeholders; how improvised procedures can enhance this process
  • Understand the key fundamentals and how global organizations have used value driven lean philosophy to acquire the operational excellence; How the value driven lean fundamentals can be applied to the finance function
  • Participate in business process improvement and understand and re-engineering programmes to improve and analyze the finance function systems and workflow.
  • Assist in finance process improvements in the most significant areas and their identification, from basic to advanced functions like ‘Procure to Pay’ through to Performance Management Systems.
  • Apply and understand the process improvement to strategize the essential functions likes risk management cash flow and ‘what-if’ forecasts.
  • Recognize the significance of visionary leadership in transforming the role of the finance function.
  • Review and choose their own key fundamental areas for finance function process improvement.

Course Outline:

Module 1:

  • The Finance Function: The 21st century challenges
  • The compliance and the burden of detail
  • The concept of cost efficiency imperative
  • Overview: Balancing the pressures on time, cost, quality, and service
  • Reporting and planning, closing and controlling: Today’s challenges for finance
  • Business partnering (empowerment and control): The future challenges for finance
  • The concept of Creating and Delivering Value to Key Stakeholders: The finance role

Module 2:

  • The concept of Understanding the strategic context of the challenge
  • The organisational vision, values, and mission: The definition
  • Organisation’s business model: Understanding the concept and Definition
  • The value creation process: Understanding the concept
  • Understanding the ways in which finance fits into the value creation system
  • Understanding the ways in which the finance function delivers value to its customers

Module 3:

  • The concept of Lean awareness and applying Lean to finance
  • Lean: the concept and definition
  • Overview of Traditional versus Lean
  • The six key essential principles: What lean entails?
  • The overview of understanding and defining the value
  • The Three M’s of waste: The overview and introduction
  • Understanding the Value-added and non-value added activities
  • Value stream mapping: The usage
  • Understanding the Usage of Lean as a competitive advantage – The Toyota Production System
  • The Overview of Waste reduction – at the heart of Lean
  • Eliminating waste: The S5 Approach
  • Finance function: Applying lean
  • The concept of Business Process Improvement and Reengineering (BPR)

Module 4:

  • Definition and significance of BPR
  • The Overview: How BPR builds on organisational mission
  • Implementing BPR: The Critical success factors
  • The Overview: Don’t automate – obliterate
  • The design and the workflow analysis

Module 5:

  • The basic functions of improving the finance function processes
  • ‘Customer to cash’ systems: The common problems
  • ‘Customer to cash’ systems: Process improvements
  • Procure to Pay (P2P): The common problems
  • P2P systems: The process improvements
  • Inventory systems: The process improvements
  • Implementing Fast Close: Improving finance function processes

Module 6:

  • Centralization and standardisation
  • Overview: Key areas of focus to achieve Fast Close
  • Understanding the Typical fixes and problems
  • Accelerating, and refining the reporting process
  • Strategic decision making: Improving finance function processes

Module 7:

  • Understanding The shortcomings of traditional approaches to calculating profit
  • Understanding cost behavior: An activity-based approach
  • Pricing products and services: A strategic approach
  • The concept of Calculating the profitability of customers, products, and services
  • Strategic activity based decision making: The overview
  • Strategic cost reduction: The introduction and overview

Module 8:

  • Performance Management Systems: Improving finance function processes
  • The reason behind organisations failure in achieving the planned success
  • The Overview: Using a Performance Management System to link strategy to operations
  • Strategic themes and maps: Acknowledgement and usage
  • Key financial objectives and their drivers: Acknowledgement and usage
  • Understanding the concept of Mapping shareholder value improvement to organisational improvement areas
  • Identifying key success factors (KSF’s): Practical tips
  • Balanced scorecard four your organization: Defining and building
  • The concept of Developing key performance indicators (KPI’s) and key results indicators (KRI’s)
  • Using Business Intelligence (BI) and Enterprise Resource Systems: The overview
  • Effective forecasting: Improving finance function processes

Module 9:

  • Acknowledging and classifying risk
  • Key risks and key business drivers: Identification
  • Key cash flow drivers: Identification
  • Forecasts to manage risk: Designing and usage
  • Forecasts to manage cash flow: Designing and usage
  • The Overview: Best practice in using Excel™ forecasts for effective decision making
  • Using Excel™ to build a ‘what if’ key driver forecast: Case study
  • Finance function processes: The improvement

Module 10:

  • The finance function transformation
  • Strategic business partner: The finance professional
  • The Overview: Why world-class organisations are moving to shared services
  • The concept of Cross-functional teams – how they can make a strategic difference
  • Organisational management: A decentralised approach
  • Adaptive Management Processes: Beyond Budgeting
  • Planning processes with rolling forecasts and improving budget

Module 11:

  • The Finance Function: The leading change in the function
  • Visionary CFO – Role
  • Differentiate between Managers or leaders?
  • The concept of Sharing the vision for the future of the finance function
  • Understanding the significance of organisational culture
  • McKinsey 7S Framework: Analysing the organisational culture
  • Managing change: Challenges and approaches
  • Managing change: The Kotter’s 8 Step approach
  • The significance of urgency
  • Getting the right people ‘on the bus’: The overview and introduction
  • The concept of Building and leading the winning finance team

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.
Note
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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