Improving Finance Team Productivity Through Effective Leadership

Improving finance team productivity is a challenge many leaders face today, especially as teams manage heavier workloads and tighter deadlines while working across different locations and schedules.

And as one of the operations leaders at D&V Philippines, I have learned over the years that productivity is not simply a quantitative matter. It must also be evaluated qualitatively.

Why?

The reason is simple: true productivity goes beyond the number of tasks a team completes. It is also reflected in:

• The quality and accuracy of their work

• Their ability to meet deadlines

• How effectively they communicate and collaborate with others
  

For leaders, the challenge is finding the right balance between meeting business demands and giving team members the support they need to perform at their best.

In this article, I will share practical strategies that can help finance teams become more productive and better prepared for changing work demands.

Read: Why Clear Service Boundaries Improve Financial Outcomes

Identify What Is Slowing the Team Down 

Before introducing new tools or setting higher targets, leaders must first determine where delays are happening in the first place.

In my experience, work usually slows down when:

• Processes are not standardized

• Decisions require approval at every step
  

Without a consistent or concrete process, employees may approach the same task differently or spend unnecessary time waiting for instructions and approvals, causing their productivity on the line which also interrupts the flow of work.

And a task taking longer than expected is often the first sign that something needs attention. However, leaders should avoid making assumptions about the cause. Instead, they can:

• Compare the employee’s progress with the expected timeline

• Ask the employee to walk them through the actual process

• Check whether the steps align with the standard operating procedure

• Identify whether additional training, support, or clarification is needed
  

This is especially important for new team members, so they can get the glimpse of how work is carried out within the organization and follow the correct process from the beginning.

Simplify the Current Workflow

Finance and accounting processes naturally involve several reviews, approvals, and handovers. Simplifying them does not mean removing the controls needed to maintain compliance and work quality. The goal is to make every step clear, necessary, and easy to follow.

A practical starting point is to prepare standard operating procedures or SOPs. These documents establish the minimum expectations employees must follow when completing their tasks. Through this document they can clearly see:

• The steps required to complete the task

• The controls that must be followed

• The people responsible for each stage

• The approvals needed before the work can move forward

With a documented process in place, employees can resolve common questions without repeatedly asking for clarification. They can refer to the SOP whenever they have doubts about the next step, helping them follow the required procedures and controls while delivering consistent results.

However, leaders should still review their SOPs regularly to ensure they remain aligned with the team’s current way of working. At a minimum, these procedures should be reviewed annually and whenever there is:

• A transition in roles or responsibilities

• An update to an existing process

• A change in the tools or systems being used

• A new control or compliance requirement

During each review, leaders should determine which steps should be removed, combined, improved, automated, or assigned to someone else. Doing these can help improve the workflow, provided that any changes remain aligned with the required controls and expected quality of work.

Improve Productivity Across Service Lines 

Bookkeeping, payroll, tax, audit support, and financial reporting each involve different tasks, deadlines, and client requirements. Because of this, leaders should adapt their management approach to the needs of each service line.

One good way to approach this is to begin by setting clear expectations and deadlines. And if there are gaps in performance, regular check-ins can help the employee and manager align with what needs to be delivered.

This is also the approach I follow with my team at D&V Philippines. Once a team member consistently meets expectations for at least three months, I gradually reduce the frequency of my follow-ups, giving them more room to manage their own workload. If deadlines are already on their calendar, there is no need to remind them constantly. Giving them this independence encourages greater ownership and shows that I trust them to deliver.

However, greater independence does not mean leaving employees without support. Managers should continue to watch for challenges such as:

a. Difficulty following the SOP. Employees may need further guidance to understand and apply the correct process.

b. Exceptions not covered by the SOP. Employees may be unsure whether they have enough time to resolve the issue independently or need immediate help to prevent delays.

c. Lack of confidence in sharing input. Some employees may hesitate to raise concerns, ask questions, or suggest a different approach.

d. Limited manager oversight. Without regular check-ins, managers may miss important updates, delays, or feedback from the team.

Managers can address these challenges by keeping communication open and making employees feel comfortable asking for help when needed.

You may also read: The Importance of Nurturing Your Internal Talent

Set Clear Priorities and Responsibilities 

As I have always mentioned in the previous sections, setting clear priorities and responsibilities is something every leader must do. This becomes even more important when several deadlines and client requests come in at the same time.

a. Aligning priorities with the client

Setting clear expectations should begin even before the engagement starts. During discovery calls with prospective clients, one good practice we follow at D&V Philippines is to discuss their:

• Current challenges

• Expectations and goals

• Required tasks and responsibilities

• Expected deadlines and deliverables

We also request a detailed job description or scope of work. This helps us understand the client’s needs, assess whether we are the right fit, and recommend appropriate support from the beginning.

However, priorities may change once the engagement is underway. When several requests come in at the same time, I ask the team to list each request and its deadline. If the workload cannot be completed within the given timeframe, we discuss it with the client to:

• Confirm which tasks should come first

• Negotiate realistic deadlines

• Review the team’s available capacity

• Determine whether additional support and relevant costs are needed

The goal is to reach a mutual understanding of what needs to be prioritized, what the team can realistically deliver, and the limits everyone must work within.

b. Provide Complete Task Information

Once priorities have been agreed upon, leaders should provide employees with the information they need to complete their assigned work. This includes:

• The specific task and expected output

• The agreed deadline

• The relevant SOP

• Supporting documents or reference files

• The person to approach for questions or escalation

Leaders should also be available for consultation with their team members. When employees clearly understand their responsibilities and know when to ask for help, they can complete their work with less confusion and fewer unnecessary follow-ups.

Manage Workloads and Team Capacity

Managing workloads and distributing tasks fairly is something many employees, especially finance team members, greatly appreciate. Not only does it prevent them from becoming overloaded, but it also allows leaders to make better use of the team’s available capacity.

a. Use Time Reports to Spot Imbalances

For straightforward tasks, I usually consider each team member’s available capacity based on their time reports. Reviewing these records regularly helps leaders identify:

• Employees who can still take on additional work

• Team members who are regularly working overtime

• Tasks that may need to be reallocated

However, time reports do not always show the full picture since there's a possibility that an employee may be handling a difficult task or dealing with a process issue that is not immediately visible in the records.

This is why team members should be encouraged to raise concerns about their workload. And as a leader, we should be able to sit down with them, understand the hiccups they are experiencing, and agree on an appropriate solution.

b. Find the Source of the Excess Workload

Another thing to consider is what is causing the excess workload. Since not every workload issue requires the same response, leaders should first determine whether it is caused by work volume or a problem in the process.

• If it is a volume issue, consider adding team members, redistributing work, or automating suitable tasks.

• If it is caused by a delayed decision or a break in the process, review the standard operating procedure (SOP) and correct the affected steps.

Identifying the actual cause helps leaders choose a solution that addresses the problem instead of only providing temporary relief.

Use Technology Where It Adds Value

State-of-the-art technology can also be a valuable tool to increase the productivity of the team since it will reduce the time spent on repetitive and manual work. However, leaders should focus on tools that genuinely improve existing processes and provide enough value to justify the cost.

a. Automate Repetitive Data Checks

For client-related tasks, we proactively explore opportunities to automate wherever possible. Internally, one process that could benefit from automation is the repeated confirmation of client and staff data between Client Service and D&V Support.

Having a centralized system could bring this information into one place, reducing the repeated coordination between teams, and allowing leaders to focus on more important responsibilities that require their attention.

b. Test New Tools Before Full Implementation

Before committing to a new tool or system, a good practice is to first understand how it works and how it will affect the team’s current processes.

And, instead of immediately implementing it across the entire team, conduct first a test run with a small group representative of the population. The results of the test run can then be used to address potential issues and decide whether the tool is suitable for a wider implementation.

Read next: Building Bridges: How D&V Philippines Aligns Global Clients with Local Talent

Measuring the Productivity of the Team 

Productivity should not be measured solely by the number of tasks a team completes. In my case, I also look at two important indicators:

a. Customer satisfaction. The team should consistently deliver accurate and timely work that meets the client’s expectations.

b. Employee confidence. Team members should understand their responsibilities, work with greater independence, and feel comfortable sharing ideas or raising concerns.

Looking at these areas will give us the leader a clearer picture of how well the team is performing, beyond the volume of work completed.

Consider Outsourcing as a Capacity Solution 

Recruitment challenges, growing workloads, and limited internal capacity can make it difficult for organizations to keep up with their priorities and achieve their goals. When these concerns persist, leaders may need to explore other ways to strengthen their operations.

In my experience, outsourcing can be considered when a business wants to:

• Improve cost efficiency

• Access qualified finance and accounting professionals

• Add capacity without placing more pressure on its internal team

However, a successful engagement requires more than assigning tasks to an external provider. The client and the outsourced team should work as partners toward clearly defined goals.

When there is trust and mutual respect, the outsourced team can:

• Anticipate potential issues

• Recommend solutions without waiting for instructions

• Explore better ways to achieve the desired results

This level of collaboration helps the outsourced team become a genuine extension of the client’s internal finance function.

The Bottom Line

Productivity does not improve by simply asking employees to do more. It starts with having a clear direction in place. And as leaders, it is important to set clear priorities that support both the team and the organization.

Putting these priorities in writing gives employees something to refer to when workloads become overwhelming. It also helps everyone stay focused on the goals that matter most.

The D&V Philippines Difference 

If you’re looking for a workplace that puts people first or a professional services firm with a positive and supportive corporate culture, D&V Philippines is worth considering.

At D&V Philippines, our approach goes beyond simply delivering services—we focus on building genuine partnerships grounded in trust, collaboration, and shared goals. Schedule a free consultation with one of our experts today to learn more about how we can help you.

You can also visit our website to find out what our clients say about us or download our latest case study, How a UK Medical Accountancy Firm Bridges Capacity Gap Through Outsourcing to explore how we were able to provide tailored solutions to our client.

This article has been written in collaboration with Angelica Garcia, a content specialist at D&V Philippines.