Case Study Five | Challenging Finance Transformations

A global insurer was able to embed a culture of continuous improvement, with centralisation of the finance functions and a reduction of 30% in the finance reporting timetable.


Problem Statement

A global insurer required assistance in implementing a number of changes within their finance department, including:

  • New reduced cost targets
  • Centralisation of the finance function to a single UK site
  • Reduction in the lead time of Financial Reporting cycles

MBE Solution

  • Introduction of the principles and key tools of operations management
  • Engaged the full finance team in Continuous Improvement activities
  • Provided Lean/Continuous Improvement training to all finance members
  • Consultancy services to assist with the process improvement projects

Results and benefits

  • Established a culture of Continuous Improvement, eliminating waste and improving quality

  • Embedded Operations Management, ultimately assisting with day to day delivery and improved communications

  • Reduction in the duration of the financial reporting timetable

What we liked about MBE

"We knew that Process Improvement would enable us to speed up our reporting. The pleasant surprise was that Operations Management has initiated a change in our culture. Finance now feels more vibrant and we are restless to improve what we do…."

Client's Finance & Commercial Director


 



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