Creating agility.

 
 

We get it…

“We have always done it that way.”

“We just leave that to the Office Manager.”

“I haven't got the money or time to invest in changing something that isn’t really broken.”

Weave 1 - Process improvement and technology enhancements

Many organisations evolve their finance back office function. It's rarely planned and normally relies on key individuals to ensure everything runs smoothly. In most cases, these employees are the backbone of the organisation, with many the glue that holds these businesses together. Unfortunately its quite common that they focus on the inefficient, monotonous and manual tasks that are required each month to make sure you Invoice and collect from your customers promptly and your team and suppliers get paid on time.

Unleashing these employees to perform value add tasks and leveraging technology WILL positively  impact your business.

Introducing the right automation tools to your Finance back office and getting those processes right is an obvious next step. There are number of benefits:

  • Improved understanding and insight into your business performance

  • Better control on your expenditure

  • Clear and accurate financial reporting that delivers meaningful insights for making informed decisions

  • Get back some of your valuable time to focus on your family and friends.

We have a number of technology partners that have various solutions that we can adapt to your business needs. As we help you introduce this technology we can also assist implement improved processes and control .

 
 

>> Finance Applications

  • Finance Systems & ERP

  • Supplier Invoicing & Payments - OCR Invoice Capture, Approvals Expense Management

  • Customer Invoicing and Collections - Approvals

  • Bank Reconciliation

>> Project Management

  • Project Management - Task, Timesheets

  • Forecasts

>> Inventory with app implementation

  • Inventory Management

  • Point of Sale

>> Reporting with app implementation

  • Financial Reporting

  • Dashboards and Financial Performance

Creating positive change.

Weave 2 - Accounting firm bookkeeping redesign

Many mid size bookkeeping businesses experience a number of common and consistent issues that hinder their ability to service their client base and also ensure profitability within their own business. Some of these issues are outlined below:

  • Resourcing was difficult due to the fact I had accountants with set times for jobs and if there was additional work I couldn't find any time to deliver

  • Competing priorities impacted timelines/resourcing/margins

  • Small mistakes had a material impact on our relationships including losing clients because we coded something incorrectly

  • Lack of oversight and review due to the volume of transactions increased the risk of mistake dramatically. A single point of failure with most processes!

  • It is difficult to maintain project profitability

  • Hard to keep on top of required tasks and deliverables

  • Turn over of responsible staff creates inefficiencies and headaches

 
 

The Solution

To ensure the client outcomes elevated to an acceptable level I redesigned the entire process. Some of the changes we implemented are below.

  • Restructured the resources to push low value-added work to less experienced (cheaper) resources while leaving high-value processes like client interaction, payroll, and email correspondence.

  • This restructure allowed us to build daily bank reconciliations, accounts payable, and email reviews. This has transformed the business as queries and reconciliations were happening on a real-time basis. The document flow was far smoother and files were up to date.

  • Implemented the same systems across all clients so we had one repeatable process.

  • We established a detailed approval process, all invoices had two sets of eyes review the transaction and included a mandatory OCR read. For some files, we also included a client review. This was received really well for the larger clients. It gave them more transparency on cost and ensure transactions were coded correctly

  • We invested heavily in the onboarding process to ensure expectations from both sides were clearly communicated

  • We implemented a project management software that allowed us to automate the tracking of daily, weekly, and monthly tasks

Extensive Expertise.

Weave 3 - Project success optimisation

A few years ago, the Standish Group Chaos Report found that only 29 percent of IT project implementations are successful, and 19% are considered utter failures.

 
 

We have learned the hard way!

Along the way we have developed and evolved a number of initiatives and practices. Based on years of research and investigation into so-called best practice. We have uncovered some nuggets of gold.

 

When it comes to larger IT projects and more specifically finance  based change projects (normally associated with IT system changes) there are some fundamentals that we believe significantly increase your businesses chance of success.