The Effective Finance Professional

ICTD International Centre for Training and Development

How long?

  • 5 days
  • in person

What are the topics?

ICTD International Centre for Training and Development

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Who should attend

Managers involved in the challenges facing today’s finance function whose focus is on improving the key processes and transforming the finance team in to strategic business partners. Finance Professionals Accounts Payable and Receivables Team Budget and Planning Officers Financial Advisers and other Finance Professionals and Accountants

About the course

In the globally competitive world of the 21st century, world class organisations are developing their finance functions to be more efficient and to better support the value creation process. The most progressive enterprises have transformed their finance professionals in to strategic business partners, bringing them out of the back room to support their key decision-makers. The Effective Finance Professional training seminar will help delegates to meet the challenge for today’s finance function to improve efficiency and effectiveness whilst controlling and reducing costs.

The training will highlight:

  • The Finance Function’s Role in the Organisation’s Value Creation Process
  • How Finance Professionals can Work as a Strategic Business Partners
  • Practical Steps to Improve Key Finance Processes
  • Measures to Achieve Improvements in Efficiency and Effectiveness
  • How to Manage Significant Change in the Finance Function

## Course Objectives

Upon successful completion of this course, the delegates will be able to understand:

  • Develop processes to transform finance professionals in to business partners
  • Understand how the finance team creates and delivers value to its key stakeholders
  • Implement practical measures to improve finance processes
  • Improve key processes in receivables, payables and month-end closing
  • Develop and use up to date tools for forecasting and decision-making
  • Use principles of change management to transform the finance function

Course Outlines:

DAY 1: 21st Century Challenges for the Finance Function

  • Understanding the Organisation’s Value Creation Process
  • The Role of the Finance Function in Value Creation
  • Balancing the Pressures on Time, Cost, Quality and Service
  • Today’s Challenges for Finance: Controlling, Closing, Reporting and Planning
  • Future Challenges for Finance: Control and Empowerment
  • The Role of the Finance Business Partner

DAY 2: Improving the Efficiency and Effectiveness of the Finance Function

  • The Focus on Customer Value
  • Understanding and Applying Lean Principles to Finance
  • Business Process Re-engineering (BPR) Methods
  • Improving the Efficiency of Receivables Systems
  • Improving the Efficiency of Payables Systems
  • Improving the Efficiency of Inventory Systems

DAY 3: Improving Key Finance Processes – Speeding Up the Period Close

  • Key Areas of Focus to Speed-up Period Close
  • Typical Problems and Fixes
  • Accelerating the Reporting Process

Improving Key Finance Processes – Strategic Decision-Making

  • Principles of Activity Based Management
  • Strategic Activity Based Decision Making
  • Implementing a Strategic Approach to Cost Reduction

DAY 4: Improving Key Finance Processes – Reporting and Performance Management

  • Implementing an Effective Performance Management Framework
  • Principles of Integrated Reporting
  • Developing an Integrated Reporting System

Improving Key Finance Processes – Effective Planning and Forecasting

  • Designing and Building Financial Models to Manage Risk
  • Improving Financial Forecasting
  • Beyond Budgeting – Implementing Adaptive Management Processes

DAY 5: Improving Finance Function Processes – The Way Forward

  • Transforming the Finance Function: Back Office to Front Line
  • The Finance Professional as Strategic Business Partner

Managing Change in the Finance Function

  • Sharing the Vision for the Future of the Finance Function
  • Managing Change in the Finance Function
  • The Importance of Urgency
  • Building and Leading the Winning Finance Team

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The Effective Finance Professional at ICTD International Centre for Training and Development

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