Our Methodology - Five Stages
We have combined ancient wisdom with finance and technology expertise to design a “Five stages” methodology to help businesses gain self-awareness in the finance function.
The “Five Stages” methodology was designed based on Wu Xings concept. Wu Xing is an ancient Chinese concept that describes a process of the five that always moves. It includes all areas of human existence. Wu Xing arose from the observation that five basic phases/stages can characterize all phenomena.
We use that methodology to help businesses gain self-awareness in the finance function. We help businesses analyze their current finance function, identify areas for improvement, suggest tools and technologies, design a transformation roadmap, and execute it.
Wood
It is defined by its ability to bend and be flexible. It is also associated with spring, the time of birth and new beginnings. The Wood element is also connected to the business vision, strategy, mission, and goals. It is the element of growth, expansion, and creativity.
Financial models, planning, forecasting, and budgeting lay the foundation for success in finance. Just as wood nurtures life, these processes cultivate growth and vision.
Financial systems of this phase
- Corporate performance management (CPM) systems
- FP&A
- ERP
- BI & Analytics tools
High-level workflows of this phase
- Budgeting
- Forecasting
- Planning
Fire
It rises and heats up, and it is a fast-consuming energy. It is associated with summer, the time of growth, maturation, and prosperity. The Fire element is connected to the business strategy execution, or to execution in general. It is the element of action, passion, and transformation.
The more wood you put, the more fire you get. The more ambitious goals you set, the more resources you need to execute them.
At high-level you can think of this phase as the execution of the strategy. It is company expenses. Ambitious goals at Wood phase would require much Fire to execute them.
Financial systems of this phase
- Expense management solutions
- Banks & cards
- Card spending solutions
- SCM
- ERP
- etc.
High-level workflows of this phase
- Accounts Payable
- Payroll
- Taxes
- Employees Expenses
- etc.
Earth
The Earth element is associated with late summer, the time of harvest and abundance. It is connected to the business operations, processes, and controls. It is the element of stability, reliability, and security.
Central operations are the bedrock of an organization’s financial infrastructure that balances all other stages/moves, much like the Earth element widely known for its central position that unites yin and yang.
Just as Earth supports life, central operations support the organization’s financial health.
Financial systems of this phase
- ERP
- Accounting solutions
- MRP
- HRIS
- ITSM
- etc.
High-level workflows of this phase
- General Ledger
- Fixed Assets
- Payroll
- Compliance
- Intercompany
- etc.
Metal
The Metal element symbolizes revenue and financial resilience. It is associated with autumn, the time of maturity and decline.
Like metal’s strength, revenue forges a path to financial stability and investor relations.
We ensure that the main pages of the site are fully functional at launch — the auxiliary pages will, of course, be lorem ipusm shells which get updated as part of our exorbitant maintenance retainer.
Financial systems of this phase
- ERP
- CRM
- Contract management
- etc.
High-level workflows of this phase
- Accounts Receivable
- Investor relations
- Contracts management
- etc.
Water
Water represents the flow of information, insights, and control in finance. It is associated with winter, the time of reflection and introspection.
As water adapts to its environment, the management team analyzes the data to make wise decisions and confidently navigate financial waters.
Financial systems of this phase
- BI
- ERP
- Accounting solutions
- FP&A
- etc
High-level workflows of this phase
- Reporting
- Data processing
- Controlling
- KPIs
- etc.
Our values - Balancing wisdom and innovation
We believe in efficiency and maximizing our resources to provide the best value to our clients. Our methodology is based on the ancient Chinese concept of Wu Xing, which describes a process of the five that always moves.
- Mindfulness. Staying mindful of our mission and values, ensuring we remain aligned with our core principles.
- Curiosity. Continuously exploring and understanding the true nature of our business environment.
- Dedication. Showing determination and putting consistent effort into all our projects.
- Passion. Bringing enthusiasm and joy to our work, inspiring those around us.
- Calmness. Encouraging relaxation and tranquility to maintain a balanced approach in our professional and personal lives.
- Focus. Maintaining a clear, concentrated state of mind to achieve our goals effectively.
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Our offices
- Tallinn
Narva mnt 5
13628, Tallinn, Estonia - Kharkiv
Freedom Square 1
61120, Kharkiv, Ukraine