Obtaining Efficiencies in Business Processes, and Stronger Internal Controls
Business processes, by definition, cut across organizational and functional boundaries. Effective and ongoing business process analysis and improvement is vital to operating your company or organization at optimal levels.
Illustrated in this client success story, a Business Process Controls & Performance Analysis, and Information Systems Gap Analysis allows an AAFCPAs client to reclaim 10 hours per week of employee time, and reduce risks.
In a post audit conversation, AAFCPAs’ client, a commercial & industrial construction/services company, expressed concerns that their business processes appeared to take too long to complete. Management acknowledged that their existing systems capabilities were not being fully optimized, and there were substantial concerns related to the effectiveness of their current internal controls.
AAFCPAs’ Audit Partner suggested that the client consult the expertise of AAFCPAs’ Business & IT Advisory practice to evaluate solutions.
Obstacles and Challenges:
- System capabilities were not fully utilized.
- Users did not embrace the new system.
- Processes were inefficient.
- Multiple manual entries increased risks.
AAFCPAs was engaged to improve the client’s time tracking and payroll reporting process, which was highly manual, and painfully redundant. Our team developed an efficient system that changed this process from one that took about 10 hours of work a week, to one that takes less than 2 hours, reclaiming the time equivalent to one quarter of a Full Time Employee! Additionally, AAFCPAs implemented effective internal controls, such as verification of information imports, which is critical in a process such as this that deals with employee payroll.
Download the complete success story to read all the details of the engagement.