Reduction of AP intercompany accruals and a change management approach across different zones in intercompany accounting
New technologies, culture shifts, globalization and work force diversity are some of the factors contributing to the rapid change environment. As a response, organizations have to change more frequently. The aim of this research is to manage change effectively while standardizing the process. As it...
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| Format: | text |
| Language: | English |
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Animo Repository
2017
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| Subjects: | |
| Online Access: | https://animorepository.dlsu.edu.ph/etd_masteral/5651 |
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| Institution: | De La Salle University |
| Language: | English |
| Summary: | New technologies, culture shifts, globalization and work force diversity are some of the factors contributing to the rapid change environment. As a response, organizations have to change more frequently.
The aim of this research is to manage change effectively while standardizing the process. As it has become crucial, the application of Lean Six Sigma approach and Kurt Lewins change model serves as a guide as the company is undergoing the transition process. These methods helped the researcher in identifying the true root causes of the problem providing accurate and measurable timelines and objectives, and develop more improvements to arrive at a defined team while managing organizational change.
The change mentioned in this paper is intended for the intercompany accounting team as we are undergoing transition. Intercompany process is more than just booking of invoices, it also includes reconciliation and analyzation of transactions. Hence, the need for understanding the overall transaction cycle is a must because it has greater impact on a company's financial statements and other legal compliance binding the company and the client.
Two cycles in this study were essentially applied. The first cycle, the reduction of intercompany accounts payable accruals, was successfully executed with the use of Lean Six Sigma approach leading to targets being met. Higher client expectations lead to the second cycle, where the intercompany team has to undergo organizational change with the objective of standardizing the process and Kurt Lewins change model guided the team successfully
Currently said research is being observed for unceasing developments that will benefit not only the intercompany team but company and other industries as well. |
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