Accounting and reporting process improvement

Description

Challenge (Project)

Constant reconciliation exercises between subsystems required an excessive amount of time and were causing a lot of friction between the finance, controlling and accounting department, eroding both moral and efficiency at the same time.

Objective

The main goal of the project was to improve overall system reliability and to streamline processes to reduce or possibly eliminate time and resource wastage and to shred unnecessary costs

Methodology

• Screening current systems and mapping out processes
• Pinpoint typical system errors, process duplications and bottlenecks
• Identifying areas of improvement; system and process deconstruction and re-design

Solution

We concluded that the anomalies and inefficiencies were due to conceptual flaws in the system design which required duplicate processes to circumvent and thus excess resources to operate. We have suggested an alternative data flow and information management approach which required the replacement and re-engineering of current systems but allowed for the eradication of database and workflow duplications while also addressing system integrity issues and improving flexibility in satisfying management information needs.