Leveraging Cloud Based Technologies for Increased Team Productivity
2014-02-25 Enhance Business Productivity Leveraging Your Financial Software
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Transcript of 2014-02-25 Enhance Business Productivity Leveraging Your Financial Software
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Thrive. Grow. Achieve.
Accounting Process Improvement Seminar
Seth Zarny – PartnerBuu-Linh Tran – ManagerJeremy Taro – Business Development
February 25, 2014
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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
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INTRODUCTIONS
Page
YOUR ORGANIZATION
• Overview• Size – Employees• Current Accounting Solutions• Challenges
RAFFA
• Overview• Seth Zarny• Buu-Linh Tran• Jeremy Taro
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CATALYST FOR CHANGE
INTERNAL INITIATIVES
NEW TECHNOLOGIES
NEW SENIOR MANAGEMENT/ CFO
NEW STRATEGIC GOALS
BOARD DIRECTIVES
TIME FOR A CHANGE
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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)
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EVIDENCE THAT PROCESS IMPROVEMENTS ARE NEEDED
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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
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DO WE NEED A NEW ACCOUNTING SYSTEM?
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REVIEW CURRENT OPERATIONS
IS SOFTWARE VERSION OLD? INCOMPATIBLE WITH EXISTING TECHNOLOGY?
REVIEW AVAILABLE SYSTEM FEATURES
IDENTIFY 3RD PARTY ADD-ONS
NEW ACCOUNTING SYSTEM IMPLEMENTATION
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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.)
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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)
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PROCESS IMPROVEMENT RECOMMENDATIONS
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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
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PROCESS IMPROVEMENT RECOMMENDATIONS
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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
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MICROSOFT DYNAMICS GP
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REPORTING
Smartlist Excel Report Management Report SSRS (self servicing)
COST ALLOCATION
Variable vs Fixed
GRANT MANAGEMENT
Financial vs Nonfinancial data
REVENUE / EXPENSE DEFERRAL
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INTACCT
REPORTING / DASHBOARD
Financial
Custom
Standard
GRANT MANAGEMENT
Financial vs Nonfinancial data
RECURRING BILLING
COST ALLOCATION
Fixed
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QUESTIONS
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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]