An independent accounting and reporting process assessment can be the first step to a more strategic, streamlined finance department. Marcum process improvement professionals review each business process, recommending changes with the potential to make a real difference. At the same time, our consultants make it their goal to involve and energize your staff, establishing buy-in for financial process improvement. The benefits to your company can include cost savings and increased productivity, giving your staff more time to spend on higher-value initiatives.
Frequently, improvement recommendations involve increased intra- and inter-departmental communication and collaboration, automating manual processes, optimizing your use of technology, and reducing redundancy – changes that can transform your finance function by creating streamlined, more effective and efficient processes.
Financial process improvements are often possible in areas including:
- Accounts payable/receivable processing.
- Simplifying the close process.
- Travel and expense reporting and payments.
- More intuitive and value-added dashboards.
- Establishing more meaningful metrics and key performance indicators to help you to run your business.
- Enhancing general ledger software capabilities.
- Standardizing the chart of accounts.
- Strengthening your organization’s internal controls environment.
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