Lean Finance Forum

About

Since the GFC, every organisation expects more from their finance teams. The finance team influences as well as impacts on the overall performance of the organisation as a whole. World-class organisations must have world class finance functions. This forum is designed for the next generation of finance professionals who want to be a part of a team that adds value to their organisation.

The Lean Finance Forum is the only conference in New Zealand that addresses specifically the transformation of the finance function. Seize this opportunity to transform your finance team from counting and reporting to making an impact on the way your organisation is run and supporting the decision making process. Bring lean thinking into the finance function to:

•   Minimise waste by only producing information that are wanted and needed
•   Getting the most out of scarce resources
•   Act as the catalyst to change the way your organisation operates for the better

Both mornings of the forum are packed with presentations from experts, while four Masterclasses are scheduled in the afternoons to offer you a balance of theory and practical insights into lean finance transformation.

We’ve secured world-class finance transformation trainer Stephen Lynch to take you through all you need to know to make a real difference once you get back to the office. With over 15 years of experience working with senior finance professionals all over the world to transform their finance function, Stephen’s advice and insight will be invaluable to any finance professional.


 

Stephen G. Lynch

Introducing Stephen G. Lynch
The finance function is increasingly under pressure to be more efficient and effective, especially since the GFC. Studies have found that the cost of running a world class finance function is 50% lower than that of the average. Not only is the cost lower, they are also able to dedicate a larger proportion of their resources to support strategic decision making.


World class expert
To create a world class finance function, you require a world class expert. What better way to fast track the transformation of your finance function than to directly tap into the expertise of the man that transformed organisations such as Coca-Cola, Ford and Johnson & Johnson.
Stephen G. Lynch is a Principal in the Management Consulting group of a global consulting and IT company. In this capacity he is responsible for the marketing, sales and delivery of Finance Transformation and Shared Services offerings. He holds a MBA from The University of Florida and a BBA in Finance from The University of Texas at Austin. He is also a Certified Public Accountant.


More than 15 years of experience
Stephen has more than 15 years of experience advising global companies on their service delivery strategies and has served over 60 clients in a variety of industries including consumer product and industrial manufacturing, aerospace & defense, transportation, technology, entertainment and financial services. Stephen started his accounting career in the audit group of Grant Thornton and served as an Accounting Manager and Controller in private industry. When the Y2K crisis hit, Stephen led his company’s implementation of their new accounting and reporting systems and a new career was born. Stephen left industry and joined Ernst & Young’s consulting practice implementing Oracle ERP to drive efficiencies in his clients’ finance organizations. Stephen also served as a Director at The Hackett Group where he participated in numerous benchmark studies and transformation programs to enhance finance service delivery, improve internal controls and reduce cost to world-class levels.

Notable clients
Stephen’s list of clients includes Coca-Cola, Ford, Visteon, Sunbeam, AOL Latin America, Corning Asia, Johnson & Johnson and ITT. He has also served as a Controller in private industry and as a public accounting auditor. A student of globalization, Stephen has partnered with clients on five continents to develop and deploy the strategy that leads to superior performance. His expertise spans the domains of organizational transformation, process optimization, shared services, and global service delivery. He is an active content contributor on the topics of Finance Transformation and globalization and has presented at the IQPC Shared Services & Outsourcing conference and the CSC National Sales Conference. 



Visit Stephen's blog http://www.stephenglynch.com/blog/

 

Agenda

Agenda: Day 1

8.30

Registration & coffee

9.00

Opening remarks from the Chair Stephen Lynch, Principal, CSC Consulting

9.10

An overview of lean finance and the steps in the transformation process

The term ‘lean’ is often used to describe as doing something with less resources and doing it better at the same time. In the post GFC economy, the need for organisations to focus on lean is more evident. Whilst lean is very much associated with the manufacturing process, it is important that the finance function also step up and transform itself.
• What is meant by ‘lean finance’
• The steps one needs to take to get there

Craig Kenny, Financial Controller, Farmlands

10.00

The value of lean thinking and its impact on the finance function

Lean Thinking is a method of managing an organisation to improve the productivity, efficiency and quality of its services. The emphasis is on meeting the demand of the users as opposed to ‘pushing’ the service. In the context of the finance function, it is about only producing information when there is a need for it.
• What is Lean Thinking?
• How to implement Lean Thinking
• Lean Thinking milestones

Ian Lines, National Productivity Manager, Skills4Work

11.00

Morning tea

11.20

Case study: Continuous process improvement of the finance function (Case Study)

The finance function is challenged to reduce its costs but also continue to meets its responsibilities. Incremental changes through continuous process improvement allow organisations to transform their finance function to better meet the demand of the organisation. In this session, Beca will share their experiences in finance transformation.
· The initiation of continuous process improvement
· Obstacles along the way and the lessons learnt
· Where to from here

Richard Ray, Corporate Finance Manager, Beca Group

12.10

Case Study: Freeing up resources through fast reporting (Case Study)

Reporting takes up a lot of the resources that are available to the finance function. In order for the finance function to have more strategic input, it must find ways to put its resources to better use. In this session, the speaker will share how she is able to achieve fast reporting to free up valuable resources.

Louise Berney, Finance Director, Te Wananga o Aotearoa

1.00

Lunch

2.00

Stephen Lynch Masterclass 1: The value adding lean finance function

In today’s economic environment, being merely cost effective is no longer enough. Increasingly, stakeholders are expecting the finance function to add value above and beyond data capturing. In this Masterclass, the trainer will take you through the key concerns and schools of thoughts to transforming your finance function into a value adding unit in a cost effective manner.
• Becoming cost effective
• Balance finance efficiency & effectiveness
• Six sigma in finance
• Influencing organisational performance to contribute to the bottom line
• Reducing the level of complexity
• Focusing on strategic activities
• Developing your finance personnel

Masterclass material will also be handed out on the day

3.30

Afternoon tea

3.45

Stephen Lynch Masterclass 2: Lean assessment of your organisation

The first step to lean finance transformation is to understand the status of your organisation’s finance function today. In this session, the facilitator will take you through the necessary steps to work out the current status of your finance function, as well as developing an action plan going forward.
• Where are you at now
• What are the areas of improvement
• Developing an action plan – setting priorities and defining responsibilities
• The common obstacles in lean finance transformation
• Steps to overcome those obstacles
• Establishing a process to ensure the finance function transformation is on track

Masterclass material will also be handed out on the day

5.00

End of day one and networking drinks

Agenda: Day 2

9.00

Welcome back from the Chair

Stephen Lynch, Principal, CSC Consulting

9.05

The key to finance transformation: Getting stakeholder support and organisation wide buy in

The finance function has been undergoing a slow evolution for more than two decades. Transformation efforts have achieved only limited success. Lean finance is about allocating resources effectively and efficiently so the finance function is able to add more value. However, this will not be possible without the support from the stakeholders. It is only with the input and collaboration from the stakeholders that the finance team can identify its own inefficiencies and waste.
• Establishing a dialog with stakeholders to ascertain areas of inefficiency and waste
• Creating trust and reciprocity
• Defining value from the perspective of your customer/ end-user
• Demonstrating the value of lean finance

Craig Green, Business Controller, ABB Limited

10.00

The role of shared services in finance function transformation

Centralisation of the finance function into Shared Services Centres (SSC) creates economies of scale and the potential for synergy. Traditionally, SSC are seen as a cost reduction exercise. However in recent years, organisations are increasingly expecting more value from SSC. In order for this to occur, the design and the implementation of SSC must be tailored to the organisation.
• Understanding and determining the expected ROI from finance SSC
• The components of an effective finance SSC
• Developing KPIs
• Ensuring organisational benefits are sustained in the long term

Sue Fountain, Director, PricewaterhouseCoopers

11.00

Morning tea

11.20

IT and its role in lean finance

Efficient use of technology is a critical enabler to achieve best
practice finance delivery. In this session, we look at the common
issues when it comes to IT and how to address them to ensure
your IT system is aligned with lean finance principles.
• Demonstrating the value proposition of IT
• Minimising system complexity and enforcing organisation wide standards
• Using BI for data analytics and intelligence
• Developing the IT competence of the finance team

Kevin Maloney, Director, KPMG

12.10

Lunch

1.00

Stephen Lynch Masterclass 3: Re-engineering finance processes

Lean finance is not about becoming the world leader. It is about taking incremental steps so the finance function of your organisation can achieve its ‘personal best’. This Masterclass takes you through the processes of re-engineering the finance function to add value and increase efficiency.
• The impact of re-engineering finance processes affecting finance transformation
• Eliminating duplication and increase speed of processing with re-engineering
• Define the scope and dimension of what is to be standardised or simplified
• Standardising, simplifying and streamlining finance processes
• Prioritise opportunities across the finance value chain
• Plan the work and work the plan
• Incremental changes and key milestone

Masterclass material will also be handed out on the day

2.30

Afternoon tea

2.45

Stephen Lynch Masterclass 4: Transforming the finance team

The finance function is slowly moving from the role of scorekeeper
to strategic business partner. However, the efforts have met with
only limited success. Finance need to design its transformation to meet key requirements.
• The concept of finance business partnering
• Attributes of business partner
• Conducting an organisational assessment
• Creating a transformation plan for the finance team
• Managing the workforce

Masterclass material will also be handed out on the day

4.00

Closing remarks from the Chair and End of conference

Sponsors/Partners

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