While some finance teams are most definitely "future ready," many are undertaking tasks that are antiquated and anti-lean. Now is the time to change. Author and performance management leader David Parmenter has designed this toolkit to be a practical guide for corporate accountants, from CFOs to the management accountant. This book provides over 100 lean practice solutions, gathered by the author, from lean finance teams including: •The key steps to selling and leading change effectively • Rapid month-end results--inside three working days • Templates for lean, one-page daily, weekly, and monthly reporting • Agile methodologies for instant improved teamwork (Scrum, Kanban, Post-it Re-engineering, Kaizen) • Ways to reduce accounts payable volume by 60% • The seven 21st century technologies that will radically improve the finance team's productivity • Rapid annual accounts and annual plans • Implementing quarterly rolling forecasting • Getting your KPIs to work • How to attract and recruit talent • Practical insights from the paradigm shifters Peter Drucker, Jim Collins, Jack Welch, John Kotter, Jeremy Hope)
The companion PDF toolkit is filled with templates and checklists to kick-start the implementation process.
The Financial Controller and CFO's Toolkit will assist corporate accountants to radically transform their contribution. By embracing lean best practices, the reader will enhance their job satisfaction and profile, and leave a lasting legacy.
Table of Contents: About the Author ix Testimonials xi
Introduction xiii
Acknowledgments xxi
PART I: CHANGE--WHY THE NEED AND HOW TO LEAD
Chapter 1: Getting Your Finance Team Future Ready 3
Chapter 2: Leading and Selling the Change 17
PART II: TO BE COMPLETED BEFORE THE NEXT MONTH-END
Chapter 3: Rapid Month-End Reporting: By Working Day Three or Less 29
PART III: TECHNOLOGIES TO ADOPT
Chapter 4: Future-Ready Technologies 49
PART IV: PROGRESS YOU NEED TO MAKE WITHIN THE NEXT SIX MONTHS
Chapter 5: Reduce Accounts Payable Volumes by 60 Percent 77
Chapter 6: Month-End Reporting Refinements 91
Chapter 7: Lean Reporting--Informatively and Error Free 101
Chapter 8: Lean Board Reporting 135
Chapter 9: A Lean Annual Planning Process--Ten Working Days or Less! 149
Chapter 10: Lean and Smarter Work Methods 177
Chapter 11: Effective Leadership, Growing and Retaining Talent 199
Chapter 12: Quick Annual Reporting: Within 15 Working Days Post Year-End 225
Chapter 13: Managing Your Accounts Receivable 245
Chapter 14: Attracting and Recruiting Talent 249
Chapter 15: Lean Accounting 265
PART V: HOW FINANCE TEAMS CAN HELP THEIR ORGANIZATIONS GET FUTURE READY
Chapter 16: Implementing Quarterly Rolling Forecasting and Planning 281
Chapter 17: Finding Your Organization's Operational Critical Success Factors 315
Chapter 18: Getting Your KPIs to Work 327
Chapter 19: Reporting Performance Measures 351
PART VI: AREAS WHERE COSTLY MISTAKES CAN BE MADE
Chapter 20: Performance Bonus Schemes 371
Chapter 21: Takeovers and Mergers 387
Chapter 22: The Hidden Costs of Reorganizations and Downsizing 399
Appendix A: Useful Letters and Memos 409
Appendix B: Rules for a Bulletproof Presentation 419
Appendix C: Satisfaction Survey for a Finance Team 427
