Financial Systems & Process Implementation
Organizations need to define formal operational procedures and workflows as they’re directly linked to productivity and efficiency. Process and system implementation typically draws up an Inventory of operational procedures, defines the interplay of departmental functions in procedures, defines ownership for performance of operational procedures and crystallizes KPIs for all organizational procedures through consultation with stakeholders.
A critical step to enabling performance measurements, implementing internal controls and enforcing business policies is streamlining financial systems and processes. We assist our clients to identify base line metrics, map processes and establish KPIs along with designing, developing, and implementing Standard Operating Procedures (SOP) that facilitate business transactions in line with defined policies across the organisation.
Implementation of effective financial systems not only requires a deep understanding of all aspects of the Finance function but also of the business itself. Our Systems and Process implementation practice helps our clients mitigate risk while improving the effectiveness and efficiency of financial statements and internal controls. To ensure that the process improvements are sustainable we define and implement Finance process improvements such that it supports systems implementation initiatives.
Whether your business is a startup eager to set off on the right foot with an immediate systems implementation, or an existing business seeking a long overdue setup to organize its unstructured systems and processes, we can assist you develop systems and processes for your business.
- Address strategic components in a manner that aligns processes with the objectives of the company
- Integrate business processes that establish clear workflows and inter-linkages
- Comprehensive coverage of all business and support process
- Establish internal and external compliance as part of the process design
- Leverage system support to the extent possible
- Clear documentation and checklists to facilitate implementation of designed processes
- Incorporate leading practices and lessons learnt
- Incorporate process controls with minimal overhead cost to ensure functioning of controls
- Streamline processes with minimal redundancies