Eliminate these non-value added activities in finance | Enable blog
Summary
Before accepting that your current processes are “good enough,” consider the true impact of wasting valuable time and effort on non-value added activities. In addition, the accumulation of information from spreadsheets leads to the multiplication of inaccurate, redundant, missing, unavailable, unknown or obsolete data and consequently a lack of reporting reliability. In the digital age, while there is a plethora of communication channels, it is hard to believe that finance participate in non-value added activities such as hunting and transmitting information from various departments. Overloaded email inboxes, constant phone calls, meetings ... all means of communication that have the capacity to absorb integral hours of the day. If your data is siloed, otherwise difficult to access, riddled with errors, or not as comprehensive as necessary, there’s a variety of ways the finance department is susceptible to time loss.
