Process Improvement
Welcome to our Finance Process Improvement Services!
Unlock the potential of your financial operations with our tailored process improvement solutions. At LAB Finance, we specialize in analyzing and optimizing financial processes to drive efficiency, reduce costs, and enhance the accuracy of financial reporting.
Here's how we can assist you:
Post-merger integration
We help plan and executive your Post-Merger Integration (PMI) from a finance perspective by understanding and prioritizing key areas based on the M&A strategy. By developing a comprehensive integration plan (Day 1, Day 100) with the necessary priorities, we can quickly help realizing synergies, securing integrations and closing gap differences to ensure a harmonized closing and reporting process without manual and topside adjustments or other delays in the closing process after the integration.
Risk Management and internal control environment
Perform a risk assessment based on current processes and systems to identify potential financial and operational risks from a fraud, compliance and operational perspective. Design and implement robust internal controls to mitigate business and operational risks with detective, preventive, automated controls. Overall focus is to reduce risks and support segregation of duties within the finance department.
Process optimization
We have experience converting pain points and bottlenecks (upstream and within the finance department) into actionable improvements (Finance roadmap) to transition into a mature finance department utilizing system enablement and automated processes.
Target Operating Model
We help redesign your finance operating model by understanding the current requirements and KPI’s for finance. Based on this, we can help assess your current operations, processes, systems, people etc. and help create a roadmap to bring finance to the required maturity level to meet your KPI’s and establish a finance function that best supports your organization’s strategic objective, that delivers greater value to the organization.
Fast Close
Deep dive into current closing process with the aim to identify bottlenecks, pain points from both an operational and system perspective. The outcome is a more efficient, automated and accurate Record to Report closing process with a timely financial report that Management can use and trust.
