BUSINESS IMPROVEMENT SUPPORT

CLIENT

Queensland Mine

OBJECTIVE

Xenco was engaged by the client to enhance the accuracy, efficiency, and reliability of its month-end financial reporting process. By identifying root causes of reporting issues, optimising workflows, and implementing structured process improvements, our Business Improvement team aimed to strengthen process documentation, improve assurance mechanisms, and establish clear roles and responsibilities.

THE CHALLENGES

A review of the client’s month-end close process revealed several systemic issues:

• Outdated and incomplete process documentation hindered efficient task execution.

• Inconsistent validation and approval processes led to unreviewed reports and higher error risk.

• Unclear process ownership caused bottlenecks, delays, and uneven workloads.

• Non-standardised tools and templates created inconsistency and reduced data reliability.

APPROACH

We implemented a structured, targeted approach to transform the client’s month-end reporting. By reviewing existing processes, clarifying roles, and standardising workflows and documentation, we created a more efficient, accurate, and sustainable reporting process that increased confidence in financial outcomes.

OUR RESULT

Following our improvements, the client achieved significant enhancements in their month-end reporting process:

• Improved Accuracy: Reduced errors and more reliable financial reports.

• Increased Efficiency: Faster month-end closings and reduced delays.

• Stronger Assurance: Enhanced validation and approval of reports.

• Enhanced Team Capability: Clearer guidance and reduced dependency on inconsistent documentation.

• Sustained Improvements: Over 60 tasks reviewed and updated for ongoing process reliability.