Analyze Business Processes, then Optimize

Dewey Norton

Chapter 5 in The Executive’s Guide to Financial Management, 2012, pp 157-174 from Palgrave Macmillan

Abstract: Abstract Finance must analyze business processes that cut across business functions: 1. Process mistakes in other business functions create problems in accounting, which is downstream in most business processes. For example if material is not issued to a closed work order, then work in process inventory will be overstated. Identification and correction of errors like this consume valuable time in accounting during a month end closing. 2. Dysfunctional processes undermine competitiveness and put the enterprise at risk. 3. The foundation of planning is information derived from processes involving all functions in an enterprise.

Keywords: Business Process; Financial Management; Parent Company; International Standard Organization; Financial Officer (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-1-137-51120-1_5

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