The newly-appointed Finance Controller, Dean Lamb is assisting with the operational management of RMIT Training Finance. The reshuffle allows Heng Soong—Chief Financial Officer—more time to focus on the strategic needs of the business.
Providing service to the business units is a top priority for Finance, and they are continually on the lookout for ways to provide excellent support and advice to their colleagues. To ensure that Finance keeps pace with the changing needs of the company, RMIT Training invited KPMG to perform a business advisory audit.
Some of the innovative ideas suggested by the KPMG Business Advisory Team have helped Finance evolve, and enlivened RMIT Training and its business units.
Some of the improvements RMIT Training Finance is providing include:
- timely, logical and focused financial reporting—right through from its lower level business reports to entity consolidation
- centralisation of the accounts payable process—consequently, RMIT Publishing has redeployed employees to work on targeted outcomes in the marketing area.
Far from being resistant to change, RMIT Training Finance feels energised by the restructure. To maintain the sense of momentum, RMIT Training Finance is planning to update internal procedural controls, further improve the budgeting process, and roll out more timely and efficient monthly reporting processes.