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Medrina is launching a project to implement the Close OS so we can close the books more efficiently and on time.

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Why are we doing this?

• To accelerate the financial close process </aside>

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How will we implement this?

• We will work on this as a team project, ultimately impacting Medrina's operational efficiency.
• As a FIRST STEP, we need to classify all the tasks done by all into one of the following four quadrants (see below)
  • Quadrant 1 (”Q1”) = “URGENT” and “IMPORTANT” tasks
  • Quadrant 2 (”Q2”) = “NOT URGENT” and “IMPORTANT” Tasks
  • Quadrant 3 (”Q3”) = “URGENT” and “NOT IMPORTANT” tasks
  • Quadrant 4 (”Q4”) = “NOT URGENT” and “NOT IMPORTANT” tasks

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EXAMPLE:

• In Jun/July’24, there were a lot of tasks that were in Quadrant 1, as a lot of stuff was required to be done to close the books and move the data from Quick Books to NetSuite (NS)
• However, once the high-pressure work is completed (by hiring temp. workers, etc.), the focus is on completing more tasks that will ultimately provide more value for Medina.
• The focus can shift to Quadrant 2 activities to create long-term value for Medina.

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How do we Operationalize this?

Illustrating this with the accounting manager position (see below):

1. List all the tasks done — breaking them down and then identifying the functions that can be eliminated due to moving to NetSuite.
2. Identify the tasks or portions of functions that can be delegated to junior staff or automated.
3. The accounting manager will have more time to help the Controller function by following the above steps. </aside>