{"id":3321,"date":"2017-12-29T17:47:27","date_gmt":"2017-12-29T17:47:27","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=3321"},"modified":"2022-09-06T19:09:31","modified_gmt":"2022-09-06T19:09:31","slug":"utilizing-lean-six-sigma-to-optimize-record-to-report","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2017\/12\/utilizing-lean-six-sigma-to-optimize-record-to-report\/","title":{"rendered":"Utilizing Lean Six Sigma to Optimize Record-to-Report"},"content":{"rendered":"

Introduction<\/strong><\/span><\/p>\n

Lean Six Sigma (LSS)<\/a> is a methodology utilizing a set of strategies & data-driven tools to improve processes in terms of cost, quality & time. Lean is a systematic method for the elimination of waste<\/a>, while Six Sigma is a set of tools & techniques for process improvement, mainly focused on reducing variation & defects.\u00a0<\/span><\/p>\n

The benefits of utilizing Lean Six Sigma are impressive, and many major corporations have found that the processes found within Record-to-Report<\/a> are often ideal candidates in which to leverage the capabilities of this quality discipline to their fullest extent.\u00a0<\/span><\/p>\n

Company Experience<\/strong><\/span><\/p>\n

A recent Peeriosity PeercastTM<\/sup> featured a large global company with over USD $50 billion in annual revenue that has utilized Lean Six Sigma to improve the overall operational effectiveness of their Record-to-Report processes. The company has implemented LSS across the entire enterprise, with a formal organization established that provides training, tools, and central leadership for the company’s efforts in this area.<\/span><\/p>\n

Within the Global Accounting & Financial Services (GAFS) organization, Lean Six Sigma has a defined value cycle, which consists of the following:<\/span><\/p>\n