Accounting Process Optimization

We start with priority processes so you start seeing an improvement almost immediately. For instance, we prioritize changes that reduce cycle time with new systems, including mapping the real path from source to close. This has several positive knock-on effects, like identifying bottlenecks, duplicate steps, and unclear ownership.

We create a visible task list that assigns owners, sets due dates, and uncovers tasks lost in chock-a-block in inboxes. This creates a shared view of progress and obstacles, so everyone is on the same page.

You benefit from standardized reconciliations and approvals, evidence that lives with the task, and reduced rework when reviewers request context. System automation replaces ad hoc spreadsheets, effectively reducing the risk of errors and storing data in one place.

A simple runbook for month-end keeps everyone on the same page, aligning teams to the same sequence, which reduces carry overs and last minute surprises.

Optimization simplifies close processes, increasing accuracy and efficiency, and identifying potentially damaging activities. This is achieved by using one template per period and checklists that match charts and subledgers. Also, only known changes are copied forward.

Optimization also:

• Tracks the status for every task, so managers can anticipate late items and reallocate work to ensure deadlines are still met.
• Introduces timely variance and flux reviews to catch unusual activity while evidence is still fresh and no damage has been done.
• Connects close tasks to data sources, which involves pulling balances from ERP systems. Automation virtually eliminates manual tie-outs and exports from legacy systems.
• Keeps approvals and comments in-system and not in lengthy, confusing email chains. Optimization also speeds up review cycles and provides auditors with a clear trail. No extra compilations needed.

One of the first areas addressed is the clear assignment of preparer and reviewer roles. Backups provide safety in case of single points of failure when key employees are on leave or demand peaks.

They keep all processes and operations on track through automated reminders which focus attention on late or blocked items. They track deadlines and other important dates and send timely reminders to task owners. Staff calendars are synced to respect workloads and time available.

Tools capture changes and notes alongside the appropriate task, ensuring there is always a clear audit trail that can be followed to answer most queries from leadership and the taxman,

Folder names and workpaper locations are standardized, reducing the search for specific files and documents. It also facilitates smooth handoffs between shifts.

One of the most important benefits is providing leaders with a simple dashboard that shows them what is done, what is at risk, and what is waiting on others.

Your priorities dictate the precise order of automated tasks, but we do have a standard order for automated or delegated tasks.

We typically start with bank feeds and recurring entries. The aim is to reduce manual posting quickly to free time for data analysis, and keep books current during the month, without waiting for month-end to see exactly what’s what.

Establishing routine reconciliations for cash and cards and standardizing subledgers is pretty important. Especially when we also transition from an end of month cadence to one that is weekly.

We set up administrative follow ups, establish a system that automatically pushes status back to requestors, and reduce the number of check-ins that steal focus away from core activities.

Automated low-risk approvals save time and improve efficiency and productivity by allowing employees to focus on core activities and strategy. Approval routes are established and maintained by thresholds and policy, so there is a clear path to follow.

We provide an end-to-end service. So, the process starts with discovery, as we strive to understand your actual workflow, identify and measure delays, find missing steps, and determine the smallest set of impactful fixes.

Scope and proposal follow, where we describe the target state, task owners, and expected timelines. We also ensure everyone is on the same page as far as realistic expectations are concerned.

We include onboarding that configures tools, trains staff, and documents the new rhythm. After all, we’d prefer confusion didn’t reign during the first close. Part of this includes checkpoints that confirm reconciliations are on time, evidence is complete, and changes have settled in for the long-haul.

We finish with handover, when we give owners their runbooks to master the new processes. Well, we’re not quite finished because we provide ongoing support and improvements that survive beyond the project period.