Consulting | Outsourcing

Giving New De�nitionTo Your Business

The Impact of Six Sigma Methodology in Accounting & Finance Process

Finance and Accounting

The implementation of Six Sigma methodologies in accounting and �nance process is to streamline and standardize the overall process of �nancing porting systems by eliminating unproductive pro-cesses, erroneous results and cost overruns. This apparently brings forth the maintenance of perfect planning and costing to every aspect of the �nance process to a company’s business.

© 2014 Acelerar. All rights reserved. All brand names and trademarks belong to their respective owners.

2

Brought into existence by Motorola in 1986, the Six Sigma technique or methodology �nds its applauded application in various manufacturing and busi-ness processes worldwide today. It is considered to be one of the key resources to make account-ing process outputs better and quality by identifying and removing defects. Since this technique encom-passes a variety of quality man-agement methodologies, it ben-e�ts a company create a large talent pool so as to increase process improvement for accounting and �nance work.

Six Sigma Implementation –

The accounting process is said to be one of the most intricate and esoteric processes to deal with. That’s why an expert on the subject matter is required for a startup

company to handle such esoteric process. Moreover, startup companies oftentimes experience abstruse issues in relation with systematic handling of account related chores. Also, such companies have rudimentaryaccounting/book keeping process beset with disorganized and erroneous process solution that eventually yields operational deformity in accounting works.Given that accounting is one of the most imperative parts of a company, the actualization of the time-consuming accounting process faster and in the best satisfactory way conceivable has its own signi�cance. And, Six Sigma is just the name of the means to evince satisfactory solutions in accounting and �nance process.

© 2014 Acelerar. All rights reserved. All brand names and trademarks belong to their respective owners. 3

SIX SIGMA IMPACT ON FINANCE & ACCOUNTS

Improves accounting

process accuracy

Streamlinesand Standardizes

�nancing reportingprocess

Reduces manualwork�ow

Cash �ow

Management

Zeroes erroneous rate in the

billing process

Reduces cycle time

management

It has been ascertained that post Six Sigma implementation almost zeroed the erroneous rate in the billing process with faster turnaround time (6 days of billing cycle time was reduced to 3 days). Thus, the implementa-tion of Six Sigma reduces manual work�ow and improves accounting process accuracy. Also, it has improved customer satisfaction level substantially.In addition, the variability of cycle time management, reduction of erroneous rates in

billing process and employment satisfaction evinced in those companies which applied Six Sigma technique. Moreover, this technique plays a major role in cycle time reduction for �nancial reporting process as well as the reduction of the time associated with closing books.Apart from that it decreases changeability in the process of �nancial reporting, improves the value of shareholders and makes �nancial process accurate.

© 2014 Acelerar. All rights reserved. All brand names and trademarks belong to their respective owners.

3

Six Sigma in Accounting & Finance Processes

The Six Sigma implementation in startup’s accounting and �nance process yields one of the key bene�ts – a well managed cash �ow advantage. Six Sigma involves numerous tools and techniques to streamline and standardize any seemingly complicated accounting works in a company.

3

© 2014 Acelerar. All rights reserved. All brand names and trademarks belong to their respective owners.

4

There is no denying the fact that �nancial performance bearspositive impact by the application of Six Sigma methodology. It is one of the sure�re ways to streamline �nance processing activities. It helps an industry achieve maximum turnaround time to accomplish operational excellence in its �nance and accounting service.

3