Format: Live instructor-led online training via Zoom / Microsoft Teams

FINANCE PROCESS MINING TRAINING COURSE

Course Introduction

Finance Process Mining Training Course is a comprehensive and practical professional programme designed to equip accountants, finance managers, financial controllers, auditors, finance transformation professionals, process improvement specialists, business analysts, and digital finance leaders with advanced knowledge and practical skills in process mining, financial process analytics, process discovery, process optimization, finance transformation, and data-driven accounting operations. The programme introduces process mining as a powerful analytical approach for discovering, monitoring, and improving real-world finance processes using event-log data generated by ERP systems, accounting software, procurement platforms, banking systems, and other financial information systems. Participants will learn how process mining can provide objective visibility into how finance processes actually operate rather than relying only on documented procedures or management assumptions.
The programme provides extensive coverage of process discovery, process mapping, event logs, case IDs, activity logs, timestamps, process variants, conformance checking, performance analysis, bottleneck identification, root-cause analysis, process simulation, and continuous process monitoring. Particular emphasis is placed on applying process mining to Record-to-Report (R2R), Procure-to-Pay (P2P), Order-to-Cash (O2C), accounts payable, accounts receivable, financial close, invoice processing, procurement, reconciliation, and payment processes. Participants will learn how to extract and prepare financial event data, visualize actual process flows, identify process deviations, measure cycle times, detect rework, analyse automation opportunities, and develop data-driven finance process improvement strategies.
Participants will develop practical capabilities in analysing finance event logs, identifying bottlenecks, detecting duplicate or unnecessary activities, measuring process performance, conducting conformance analysis, and prioritizing transformation opportunities. The training addresses process mining dashboards, process KPIs, compliance monitoring, exception analysis, automation opportunity assessment, RPA discovery, ERP optimization, workflow improvement, and continuous monitoring. Relevant general case studies will demonstrate how process mining can identify late invoices, payment delays, duplicate processing, excessive approval steps, invoice exceptions, reconciliation backlogs, customer collection delays, and financial close bottlenecks.
By the end of the training, participants will be able to use finance process mining concepts and techniques to discover, analyse, monitor, and optimize financial processes. The programme is suitable for organizations seeking to improve finance efficiency, reduce process cycle times, strengthen compliance, identify automation opportunities, improve financial controls, and accelerate digital finance transformation. The course can be customized for banks, government institutions, NGOs, corporations, insurance companies, manufacturing companies, development organizations, audit firms, shared services centres, and other entities using ERP, accounting, procurement, banking, and financial management systems.

Course Objectives

1. Understand the principles, concepts, terminology, and applications of finance process mining.
2. Understand event logs, case identifiers, activities, timestamps, process variants, and finance process data structures.
3. Apply process discovery techniques to visualize actual accounting and finance workflows.
4. Analyse Record-to-Report, Procure-to-Pay, Order-to-Cash, accounts payable, accounts receivable, and financial close processes.
5. Identify bottlenecks, process deviations, rework, delays, unnecessary approvals, and inefficiencies using process mining analytics.
6. Apply conformance checking to compare actual finance processes with policies, procedures, controls, and expected process models.
7. Develop process performance metrics covering cycle time, throughput, waiting time, rework, exceptions, and compliance.
8. Identify opportunities for automation, RPA, workflow optimization, ERP improvement, and digital finance transformation.
9. Develop finance process mining dashboards, analytical reports, root-cause analyses, and continuous monitoring frameworks.
10. Develop sustainable finance process optimization strategies based on objective transaction data and process intelligence.

Organization Benefits

1. Provides objective visibility into how finance processes actually operate.
2. Identifies process bottlenecks, delays, unnecessary activities, rework, and inefficiencies.
3. Reduces finance process cycle times and improves transaction throughput.
4. Strengthens compliance by identifying deviations from approved policies and procedures.
5. Improves financial process controls through continuous process monitoring and exception analysis.
6. Identifies high-value opportunities for automation, RPA, workflow redesign, and ERP optimization.
7. Reduces operational costs by eliminating unnecessary process activities and manual work.
8. Improves customer, supplier, and internal stakeholder service through faster finance processes.
9. Supports data-driven finance transformation and continuous process improvement.
10. Enhances management decision-making through process intelligence, analytics, dashboards, and measurable performance indicators.

Target Participants

The course is designed for Chief Financial Officers (CFOs), Finance Directors, Finance Managers, Financial Controllers, Chief Accountants, Accountants, Management Accountants, Auditors, Internal Auditors, External Auditors, Finance Transformation Managers, Process Improvement Specialists, Business Analysts, Data Analysts, ERP Specialists, Shared Services Managers, Accounts Payable Managers, Accounts Receivable Managers, Procurement Managers, Treasury Officers, Risk Managers, Compliance Officers, and professionals responsible for finance operations, accounting processes, digital transformation, business process management, and operational excellence.

Course Outline

Module 1: Foundations of Process Mining for Finance

1. Introduction to process mining, process intelligence, business process analytics, digital finance, and finance transformation.
2. Process mining versus traditional process mapping, process documentation, workflow analysis, and business process management.
3. Event logs, case IDs, activities, timestamps, users, transactions, systems, and finance process data structures.
4. Process discovery, process visualization, process variants, process paths, and actual-versus-designed process analysis.
5. Process mining architecture, data sources, ERP systems, accounting software, databases, and financial information systems.
6. General Case Study: Introducing process mining into a finance department to discover the actual workflow of invoice processing and identify hidden process inefficiencies.

Module 2: Finance Data Preparation and Process Discovery

1. Identifying finance data sources including ERP, accounting, procurement, banking, payroll, CRM, and financial management systems.
2. Extracting, cleansing, transforming, validating, and preparing event-log data for process mining.
3. Data quality assessment, missing values, duplicate records, inconsistent timestamps, case identification, and transaction matching.
4. Building process maps from financial transaction data and interpreting process variants and process paths.
5. Identifying process complexity, rework, loops, manual interventions, handoffs, and unnecessary activities.
6. General Case Study: Preparing accounts payable event-log data and developing a process map showing requisition, purchase order, receipt, invoice, approval, payment, and exception activities.

Module 3: Process Mining for Record-to-Report and Financial Close

1. Applying process mining to Record-to-Report, general ledger, journal processing, account reconciliation, consolidation, and financial reporting.
2. Analysing month-end and year-end financial close activities, cycle times, dependencies, bottlenecks, and late tasks.
3. Identifying recurring journals, manual adjustments, approval delays, reconciliation backlogs, and reporting bottlenecks.
4. Measuring financial close performance using throughput, waiting time, processing time, rework, and exception indicators.
5. Applying process mining insights to optimize financial close, accounting controls, reconciliations, and reporting workflows.
6. General Case Study: Analysing month-end close event data to identify delayed reconciliations, excessive approval steps, late journal entries, and reporting bottlenecks.

Module 4: Process Mining for Procure-to-Pay and Order-to-Cash

1. Applying process mining to Procure-to-Pay, purchase requisitions, purchase orders, goods receipt, invoice processing, and supplier payments.
2. Analysing invoice exceptions, three-way matching, approval delays, duplicate invoices, payment cycle times, and supplier performance.
3. Applying process mining to Order-to-Cash, sales orders, billing, accounts receivable, collections, cash application, and dispute management.
4. Analysing customer payment behavior, collection delays, billing exceptions, disputes, credit notes, and cash application performance.
5. Comparing finance process performance across suppliers, customers, business units, products, locations, and transaction categories.
6. General Case Study: Using process mining to identify why supplier invoices and customer collections are experiencing delays and developing data-driven process improvement recommendations.

Module 5: Conformance Checking, Controls and Process Performance

1. Introduction to conformance checking and comparing actual finance processes with approved policies, procedures, controls, and process models.
2. Identifying unauthorized activities, policy deviations, segregation-of-duties issues, approval violations, and control exceptions.
3. Process performance analytics including cycle time, throughput, waiting time, rework, frequency, automation rates, and exception rates.
4. Root-cause analysis, bottleneck analysis, process variant analysis, compliance monitoring, and exception investigation.
5. Developing process mining dashboards, finance KPIs, alerts, management reports, and continuous process monitoring.
6. General Case Study: Conducting a conformance analysis of an accounts payable process to identify purchases made outside approved procurement procedures and invoices processed without required approvals.

Module 6: Finance Process Optimization, Automation and Transformation

1. Using process mining insights to identify automation opportunities, RPA candidates, workflow improvements, and ERP optimization priorities.
2. Prioritizing process improvements based on transaction volumes, financial impact, cycle time, risk, complexity, and automation potential.
3. Process redesign, future-state modelling, process simulation, workflow standardization, and continuous improvement.
4. Integrating process mining with Power BI, data analytics, RPA, artificial intelligence, ERP systems, and finance transformation programmes.
5. Measuring transformation outcomes through cost reduction, cycle-time improvement, automation rates, compliance, productivity, and process quality.
6. General Case Study: Developing an end-to-end finance process transformation roadmap using process mining findings to redesign workflows, automate repetitive activities, strengthen controls, and improve finance performance.

General Information

1. Customized Training: All our courses can be tailored to meet the specific needs of participants.
2. Language Proficiency: Participants should have a good command of the English language.
3. Comprehensive Learning: Our training includes well-structured presentations, practical exercises, web-based tutorials, and collaborative group work. Our facilitators are seasoned experts with over a decade of experience.
4. Certification: Upon successful completion of training, participants will receive a certificate from Foscore Development Center (FDC-K).
5. Training Locations: Training sessions are conducted at Foscore Development Center (FDC-K) centers. We also offer options for in-house and online training, customized to the client's schedule.
6. Flexible Duration: Course durations are adaptable, and content can be adjusted to fit the required number of days.
7. Onsite Training Inclusions: The course fee for onsite training covers facilitation, training materials, two coffee breaks, a buffet lunch, and a Certificate of Successful Completion. Participants are responsible for their travel expenses, airport transfers, visa applications, dinners, health/accident insurance, and personal expenses.
8. Additional Services: Accommodation, pickup services, flight booking, and visa processing arrangements are available upon request at discounted rates.
9. Equipment: Tablets and laptops can be provided to participants at an additional cost.
10. Post-Training Support: We offer one year of free consultation and coaching after the course.
11. Group Discounts: Register as a group of more than two and enjoy a discount ranging from 10% to 50%.
12. Payment Terms: Payment should be made before the commencement of the training or as mutually agreed upon, to the Foscore Development Center account. This ensures better preparation for your training.
13. Contact Us: For any inquiries, please reach out to us at training@fdc-k.org or call us at +254712260031.
14. Website: Visit our website at www.fdc-k.org for more information.