The Problem
The Management Accounts team needs to engage with the budget holders using the most user-friendly and efficient outputs because otherwise they can become overwhelmed with documents and information which can lead to disengagement and a lack of control of the financial position.
The Challenges
How might we empower the budget holders so that they engage with the depth of financial information available and support them to identify waste reduction?
The Outputs
The tangible products that came from the innovation was:
- Easy to update files
- Detailed trend analysis
- Ease of use for end user
The Outcomes
The benefits to the organisation because of the innovation as a result of the innovation were that less time was spent by Management Accounts putting together data from various sources. The budget holders are more willing to engage with their financial figures irrelevant of their level of understanding of finance. A lot of data is available in one place and makes extraction easier.