Empower users to create, maintain, and use data for decision making. The individuals who do the work have to be given the responsibility, authority, and accountability for the activities they perform and the data that they create based on these efforts. On-line approvals and queries. Companies are speeding up reimbursement routines and related transactions through on-line approval. The various methods available to attack the process and improve its performance have one goal in common the elimination of waste wherever it occurs in the organization.
Process improvements focus on removing redundancies, rework, and related non value-added activities.
Achieving best practice in the management of an organization s most vital resource, its people, starts with an acceptance that traditional ways of structuring, managing, and measuring the performance of finance professionals has led to many of the current weaknesses in the finance function. The Information Technology Dimension of Finance Best Practices Performance improvements are often driven by the development and application of new technologies. Networking multiple computers into a linked operating system is providing a platform for engaging many individuals in projects, teams, and improvement efforts while avoiding the need to bring these individuals to the same physical location. Networking is accomplished not only by connecting the company s infrastructure of computers, but also by using a hook-up to a public service or an Internet provider. Operating systems that allow users to employ pictures and menus to enter commands are making sophisticated computer applications accessible to even novice computer users.