Efficiency Deep Dive:
How efficient are your internal finance processes?

Are you hearing these answers/comments in your business or workplace.

This is how we have always done it.

I am not sure why we do it this way?

That process is so clunky and time consuming.

Often, we see businesses doing things a particular way, just because it’s how they’ve always done it and are time poor to consider other possibilities. 

It’s like they/you can’t see the trees for the forest.

Significant time efficiencies can be gained by taking a step back and looking at processes to consider:

  • What is trying to be achieved?
  • Is the outcome still needed?
  • What steps are no longer necessary?
  • What steps are missing that are important?
  • What features exist in the software being used that could improve the process?
  • What addons/apps exist that could gain efficiencies

During a recent project with a client, we spent a few hours with their internal accounts team, delving into what their current processes and outcomes were.  We took a deep dive and managed to capture some real gold for them in these areas:

  • Reduced time in data entry around transactions
  • Reduced time in entry of Bills
  • Unlocking the ability to attach documents to Bills
  • Eliminated the need for an excel spreadsheet used to track job costs
  • Streamlined finance related communications and information flow
  • Suggested approaches to begin to build contingency into the internal team in the event of unexpected leave or exits
  • Improved turnaround time on reliable financial data on how the business is trading

For the best outcome in such a deep dive, it is crucial that the internal team feels free to answer questions without fear of judgement.  Fear that they may be doing something the wrong way or in a way that is no longer efficient, could cause team members to be guarded in what they share.  This will only serve to impede efficiency improvements.  By asking questions in an unintimidating way and receiving unfettered answers we can delve deeper and unlock the magic.

We offer an ‘Efficiency Deep Dive’ for a flat fee of $750.

This service includes up to 2 hrs of our time with your internal accounts team and a tabulated report summarising our findings and proposed actions for improvement emailed to you subsequent to our meeting or visit.

You can then either choose to action these items internally or engage us to quote to help you implement them to the extent you choose.

Additional charge for travel to onsite locations not in our immediate area.

Is it time to unlock your efficiency potential?

 

Recent Beam News:

Making the Most of Fair Work Resources

Making the Most of Fair Work Resources The world of Fair Work is a minefield, so it makes sense to make the most of the resources they have...

Fixed Term Employment Contracts

Fixed Term Employment Contracts - What you need to know about recent changes in this space Fixed term contract employees are employed on a contract...

Rinse and Repeat!

Rinse and Repeat!Our observations in recruiting for finance related roles  If you ask any business owner at present what one of their key pain...

Beam Bookkeeping announced as 2024 Australian Small Business Champion Awards Finalist

Beam Bookkeeping announced as 2024 Australian Small Business Champion Awards FinalistWe are proud to be recognised as a finalist in the 2024...