Akili identified a list of 38 improvement opportunities, in addition to a corresponding time savings of 15 eight hour work days.
Location: South Jordan, UT
Products and Services: Connected Technology
Solution: Business Process Management
Technology Partner: Akili
Situation and Challenges
- While the client is completing their monthly financial close in 5 days, the financial team must work an excessive number of hours to accomplish that goal.
- This persistent work stress is causing a high and undesirable rate of staff turnover.
- The client is looking for process changes to drive:
- Efficiency and better utilization of SAP as compared to offline spreadsheet activities.
- Best practices to leverage more activities during the month and provide a more focused month-end close.
- Quick wins and short to mid-term solutions without having to re-architect the entire financial system.
- Better reporting/analysis with SAP ERP, BW and/or BPC.
- Document current state processes, related systems, and roles around Financial Close.
- Identify the root cause of performance constraints/issues/gaps; identify opportunities for improvement and concurrently implement Quick Wins.
- Develop a Roadmap to implement changes.
- Process mapping workshops were conducted with Accounting employees. The level of participation by key Accounting leadership and Accounting SMEs was excellent.
- Quickly identified crucial pain points and corresponding SAP, BPC, Process “quick fixes” to lagging performance. Communication gaps between key entities became apparent.
- Identified and documented numerous manually intensive process steps, including the use of a multitude of spreadsheets, causing performance/cycle time pressures and delays around the close process.
- Created 39 As-Is Process Models in MS Visio (2013) in 7 business days which provided a framework to identify inefficiencies, gaps, and opportunities; and to improve internal communications.
- Identified 38 improvement opportunities with a corresponding time savings of 15 eight-hour work days per month.
- Created a prioritized Opportunity Roadmap of change initiatives to address the efficiency gaps.
- The team is actively implementing these changes to drive sustained improvement in the Financial Close process.
- History of Program Management and technology implementation experience with fortune 500 enterprise strategy.
- Proven ability to deliver initiatives.
- Strong Business Process Design and Organizational Change Management Skills.