In this article, which was featured on Accounting Web, Tessa uses lean principles to explore how finance teams can reduce the waste of ‘waiting’, with a focus on efficiency and consistency.
Here is an excerpt from the introduction of the article:
“Tech Target defines waiting the best as “processes are ineffective and time is wasted when one process waits to begin while another finishes. Instead, the flow of operations should be smooth and continuous”.
The classic scenario we see all the time is waiting for information from other teams to use as inputs for month-end reports. Sound familiar? This is the particular process I have used in many of my examples below, as I believe it is one that we can all relate to.
In part one of this article series, I will look at two key areas to explore and understand within your team to help eliminate this waste.
- Efficiency
- Consistency
You can find the rest of the article here. If you have any questions, please feel free to get in touch.