Why finance should make use of root cause analysis methodsDate: Aug 28, 2013
It's often the case that problems in other parts of the business eventually trickle down to finance, and cause problems there as well. That's why it's important to use root cause analysis methods when trying to solve finance process inefficiencies.
In this video from the 2013 Proformative CFO Dimensions conference, held in New York City, Mary Driscoll gives an example that illustrates how root cause analysis can treat the source of a finance problem, rather than the symptoms. Driscoll, senior research fellow at APQC, a Houston-based nonprofit that provides expertise on business benchmarking and best practices, also notes that while this approach might seem obvious it's less commonly used than one would expect.