Manager of Vidas Petraitis Participates in the Business Technology Platform BiSmart Conference “Finance Profession Masterclass”

2017 06 22

On June 14, Manager of Vidas Petraitis was invited as a speaker in the Business Technology Platform BiSmart Conference “Finance Profession Masterclass. The company’s sustainability pillar”. CFOs, commercial directors and senior accountants from the leading Latvian companies attended the conference. Presentation of V. Petraitis „Applying Lean principles in finance management and helping to optimize business processes“ was devoted to implementation of Lean principles in the financial sector. Audience acknowledged that they, without a doubt, have heard about the application of Lean principles in the increasing of effectiveness of the company in manufacturing sector but they were not introduced yet with the possibilities for financial processes Lean is offering. Vidas explained the audience how to recognize problems in the financial process, emphasized that organizations need to be courageous to raise the problems, understand importance about building the environment where people are continually improving and told about the main steps of applying Lean, namely:

1.Visually manage your work environment.

2.Integrate finance management indicators system into daily work management.

3.Integrate finance management initiatives into organization and improvement routines.

4.Involve employees in finance management improvement.

5.Develop the employees to be the best financial problem solvers.

Visitors of the conference had a chance to find out more about the following themes: impact of technologies on financial management function, financial management tools and innovative solutions in financial sector cyber risks and security in financial field.