2014-02-25 enhance business productivity leveraging your financial software
DESCRIPTION
TRANSCRIPT
Thrive. Grow. Achieve.
Accounting Process Improvement Seminar
Seth Zarny – PartnerBuu-Linh Tran – ManagerJeremy Taro – Business Development
February 25, 2014
WHAT’S ON TAP
INTRODUCTIONS & AGENDA
CATALYST FOR CHANGE
EVIDENCE THAT PROCESS IMPROVEMENTS ARE NEEDED
DO WE NEED A NEW ACCOUNTING SYSTEM?
WHAT ARE THE PROCESS IMPROVEMENT METHODS?
BEST PRACTICES - PROCESS IMPROVEMENT RECOMMENDATIONS
LEVERAGING YOUR CURRENT SYSTEM (GP & INTACCT)
• Financial Reporting• Cost Allocation• Grant Management• Revenue/ Expense Deferral
Page 2
3
INTRODUCTIONS
Page
YOUR ORGANIZATION
• Overview• Size – Employees• Current Accounting Solutions• Challenges
RAFFA
• Overview• Seth Zarny• Buu-Linh Tran• Jeremy Taro
CATALYST FOR CHANGE
INTERNAL INITIATIVES
NEW TECHNOLOGIES
NEW SENIOR MANAGEMENT/ CFO
NEW STRATEGIC GOALS
BOARD DIRECTIVES
TIME FOR A CHANGE
Page 4
SIMPLE TASKS TAKE TOO LONG
TOO MUCH TIME VALIDATING DATA
EMPLOYEES COMPLAIN ABOUT SYSTEM INEFFICIENCIES
SUFFICIENT RESOURCES BUT LITTLE OUTPUT
TOO MUCH PAPER
SIGNIFICANT BACKLOGS
SIGNIFICANT DATA ENTRY
DATA EXISTS IN MULTIPLE SYSTEMS (RECONCILIATION NIGHTMARE)
Page 5
EVIDENCE THAT PROCESS IMPROVEMENTS ARE NEEDED
EVIDENCE THAT PROCESS IMPROVEMENTS ARE NEEDED
INFORMATION IS NOT EASILY ACCESSIBLE
HAVING TO ACCESS INFORMATION IN MULTIPLE PLACES
SENIOR MANAGEMENT INFORMATION REQUESTS RESULT IN CONSTANT FIRE DRILLS
TAKES TOO LONG TO PRODUCE REPORTS
DATA INCONSISTENCY
EXCESS USE OF SPREADSHEETS
SYSTEM WORKAROUNDS
EXCESSIVE MANUAL EFFORT
Page 6
DO WE NEED A NEW ACCOUNTING SYSTEM?
Page 7
REVIEW CURRENT OPERATIONS
IS SOFTWARE VERSION OLD? INCOMPATIBLE WITH EXISTING TECHNOLOGY?
REVIEW AVAILABLE SYSTEM FEATURES
IDENTIFY 3RD PARTY ADD-ONS
NEW ACCOUNTING SYSTEM IMPLEMENTATION
KEYS TO RESOLVING PROCESS ISSUES
ADDRESS END TO END PROCESSES
Meet with individual process owners (ask why/ don’t assume)
Follow the data and/or paper trail Address the processing procedures (include
exceptions/ workarounds) Review the processes with internal departments Identify processes that include external sources Identify all the inputs and outputs (manual entry,
invoices, etc.) Identify systems that store/ process the data
(spreadsheets, databases, etc.)
Page 8
Presentation Title / Page 9
KEYS TO RESOLVING PROCESS ISSUES
Identify one-off process / exceptions Identify system automation (identify processes the
system does and does not do & what the system should do)
Does the current process adhere to policies and procedures?
Identify desired requirements/ outcome Should current key processes be documented? Develop future state (document key future steps/
requirements)
PROCESS IMPROVEMENT RECOMMENDATIONS
Page 10
UTILIZE SYSTEM SELF-SERVICE FUNCTIONALITY
LEVERAGE SYSTEM TO AUTOMATE TASKS
CENTRALIZE DATA IN APPROPRIATE SYSTEM/ AVOID DATA IN MULTIPLE SYSTEMS
INTEGRATE SYSTEMS
REPLACE PAPER WITH ELECTRONIC SOLUTIONS
TRAINING THAT INCORPORATES BOTH TECHNOLOGY AND PROCESS
TRAINING SHOULD BE DEVELOPED WITH PROCESS OWNERS
TIMELY ACCESS TO DATA
PROCESS IMPROVEMENT RECOMMENDATIONS
Page 11
UNDERSTAND REPORTING REQUIREMENTS
DEVELOP USER MANUAL TO ADDRESS THE ENTIRE PROCESS AND NOT JUST HOW TO USE THE SOFTWARE.
MANUAL DATA SHOULD BE KEYED IN ONCE
ELIMINATE MANUAL FORMS
MICROSOFT DYNAMICS GP
Page 12
REPORTING
Smartlist Excel Report Management Report SSRS (self servicing)
COST ALLOCATION
Variable vs Fixed
GRANT MANAGEMENT
Financial vs Nonfinancial data
REVENUE / EXPENSE DEFERRAL
INTACCT
REPORTING / DASHBOARD
Financial
Custom
Standard
GRANT MANAGEMENT
Financial vs Nonfinancial data
RECURRING BILLING
COST ALLOCATION
Fixed
Page 13
QUESTIONS
Page 14
Page 15
THANK YOU!
Seth ZarnyDirect: 301-279-6500E-mail: [email protected]
Buu-Linh TranDirect: 301-279-6511E-mail: [email protected]
Jeremy TaroDirect: 301-279-6504E-mail: [email protected]