Business Process Re-Engineering

Is your accounting department process in need of structure? Is there high employee turnover? Is your company experiencing,  late payments to vendors, slow receivables collection or financial reports aren’t being produced on time?

We’ve helped many small businesses implement significant changes in their business processes including:

  1. Develop and document clear accounting policies and procedures in the areas of:
    • Banking and cash management
    • Asset management
    • Inventory management
    • Payroll and Human Resources
    • Accounts Payable
    • Accounts Receivable, credit and collections
    • Budgeting and strategic financial planning
    • Cash Flow management
  2. Establish a standard, timely and useful financial reporting package.
  3. Establish a clear system of work flow to reduce redundant processes.
  4. Create month end and year-end closing procedures.
  5. Identify a clear chain of authority.
  6. Identify and document each accounting department employee’s responsibilities and expected job outcomes.
  7. Identify and correct weaknesses in internal control.
  8. Implement clear paperwork flow for maximum efficiency.
  9. Develop forms and tools.
  10. Train staff in new procedures.
  11. Proper archival of old records.
  12. Establish cost center accounting and managerial reporting.

For more information, contact us.