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Outdated Processes: The Silent Killer of Company Growth
Manage episode 473550963 series 2806703
Bonus episode #88: Your internal business processes are either empowering your team or quietly sabotaging your organization's success. As finance leaders, we must ensure our systems add value rather than create obstacles to growth and profitability.
Monthly close procedures provide a perfect example of process challenges. While the goal remains consistent across organizations—producing accurate financial statements and comprehensive business performance snapshots—execution varies dramatically. Many finance teams struggle with inefficient sequences, excessive approval layers, and outdated methodologies that transform what should be a streamlined operation into a dreaded monthly ordeal. The growing interest in "day zero close" reflects this widespread frustration with traditional approaches.
Episode outline:
- Do your processes cause frustration?
- Are your senior leaders receiving what they need?
- Do your processes encourage long-term growth?
- Are you reviewing your processes?
Please connect with me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
For more resources, please visit Finance Leader Academy: financeleaderacademy.com.
Chapters
1. Leadership and Achieving Results (00:00:00)
2. Internal Processes and Systems (00:00:39)
3. Process Frustration Issues (00:01:44)
4. Supporting Decision Makers (00:03:00)
5. Processes and Business Growth (00:03:34)
6. Regular Process Review (00:04:18)
7. Closing Thoughts and Reminders (00:05:13)
228 episodes
Manage episode 473550963 series 2806703
Bonus episode #88: Your internal business processes are either empowering your team or quietly sabotaging your organization's success. As finance leaders, we must ensure our systems add value rather than create obstacles to growth and profitability.
Monthly close procedures provide a perfect example of process challenges. While the goal remains consistent across organizations—producing accurate financial statements and comprehensive business performance snapshots—execution varies dramatically. Many finance teams struggle with inefficient sequences, excessive approval layers, and outdated methodologies that transform what should be a streamlined operation into a dreaded monthly ordeal. The growing interest in "day zero close" reflects this widespread frustration with traditional approaches.
Episode outline:
- Do your processes cause frustration?
- Are your senior leaders receiving what they need?
- Do your processes encourage long-term growth?
- Are you reviewing your processes?
Please connect with me on:
1. Instagram: stephen.mclain
2. Twitter: smclainiii
3. Facebook: stephenmclainconsultant
4. LinkedIn: stephenjmclainiii
For more resources, please visit Finance Leader Academy: financeleaderacademy.com.
Chapters
1. Leadership and Achieving Results (00:00:00)
2. Internal Processes and Systems (00:00:39)
3. Process Frustration Issues (00:01:44)
4. Supporting Decision Makers (00:03:00)
5. Processes and Business Growth (00:03:34)
6. Regular Process Review (00:04:18)
7. Closing Thoughts and Reminders (00:05:13)
228 episodes
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