THE EFFECTIVE FINANCE PROFESSIONAL

Introduction:

World-class organizations are developing their financial functions in the globally competitive world of the 21^st century to be more efficient and better support the process of value creation. The most innovative businesses have converted their finance experts into strategic business partners, pulling them out of the back room to help their main decision-makers.

The 21^st century has already undergone unprecedented transformation of business structures and business models enabled by rapid and important digital technologies and data processing evolutions. The finance function applies these developments in world-class organizations to optimize existing systems and devote the time saved in enhancing the business support provided by the Finance team to its important decision-makers. The overall purpose of this process is to translate the finance practitioner from a business specialist into a strategic business partner in the financial sector.

Course Objectives:

At the end of this course, participants will be able to:

• Create procedures for transforming financial experts into partners
• Comprehend how the finance department is creating value for its relevant stakeholders
• Apply concrete steps to improve the procedures of finance
• Develop main processes in receivables and payables
• Design and utilize updated forecasting and decision taking methods
• Utilize change management concepts to reshape the role of finance.

Course Outline:

Day 1: 21^st Century Challenges for the Finance Function

• Understanding the Organization’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

Who Should Attend?

• Managers concerned with the challenges faced by today’s financial function, whose focus is on improving key processes and transforming the financial team into strategic partners
• Finance Practitioners
• Payable Accounts and Receivables Team
• Officers in Budgeting and Planning
• Tax advisors and other practitioners in accounting

Delivery Method: Lectures, discussions, syndicate work, case studies, role – play and group exercises. Audio – Visual aids will be used to reinforce these training and learning methods.

Venue: Dubai

Fee: $5,000.00

Duration: 1 Week

Date: Jun 12th – 16^th 2023