subject: Six Sigma Training- Finance Overview [print this page] Author: Craig Calvin Author: Craig Calvin
The question is not whether Six Sigma Training can assist with the finance industry, but rather how it can affect the finance industry. Businesses and organizations within this sector can find Six Sigma Projects applicable to all areas of business, including: risk management, investment activities, internal processes, and more. Many companies have already found the benefits of Six Sigma Training in their employees in regards to financial services, but many more have yet to realize their potential improvements that could come from investing in Six Sigma Projects.
Payroll and other processes that involve accounts payable, receivable, and other regulatory filings can all be made simpler and given a more efficient flow with the Six Sigma Process. These processes can create excess waste in some instances because they are necessary but won't often add anything beneficial to the business beyond having a financial management system in place. Having a Six Sigma Process done to improve these processes can allow for more focus on the business itself and less focus on the business of running the business.
Another popular place for Six Sigma Projects within the finance industry is the risk management application. Six Sigma can help in identifying, managing, and improving risks within a financial organization of any kind. In actuality, risk management across many different industries can benefit from Six Sigma investigations. However, in regards to finance, this can be a very effective place to utilize Six Sigma Methodology. Particularly in relation to finance metrics, an improvement project in risk management can add so much to a financial services company that otherwise might go un achieved.
Possibly the most popular and effective choice for the use of Six Sigma in financial organizations comes in the area of investment activities. Investments always involve some sort of complicated process or serious risk, which is why Six Sigma Projects can add so much to this area of a business. Streamlining processes, maximizing the efficiency and accuracy of evaluation in investments, and offering a variety of portfolio management techniques and early warning signs are just a few things that Six Sigma Methodology can do for the investment activities of a business.
There are many other ways that businesses in the financial sector can use Six Sigma Projects to their advantage. Keep in mind that there is no right or wrong way for every single organization, and that the actual effectiveness will vary depending on proper execution of the Six Sigma Process.About the Author:
6 sigma is a great way for you to help not only your business, but your workers thrive. Implementing six sigma programs in your office will make a big difference in your productivity.
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