How do you view the functioning of your organization today?
The people and the departments that takes care of the various functions that come together to make it happen
End-to-end processes cutting across functional departments and people that deliver business objectives
Mapping and documenting the end to end processes in the Finance and Accounting function is a strategic competency requirement for the modern organization. It offers the following advantages leading to increased performance and reduced costs for the business.
1. Optimize process and workflow for increased efficiency.
2. Establish better checks and controls
3. Optimize the use of technology infrastructure, particularly the cloud
4. Take advantage of a distributed workforce, including global talent pools
5. Detailed process documents and flowcharts useful for workforce training, process analysis and improvement.
It will be appropriate to call the approach StylusFMS takes to process mapping and documentation as digitizing the end to end processes in Finance and Accounting.
‘Digital’ simply does not refer to technology alone. It is a concept that refers to breaking down any system into discrete and independent components. Each discrete component can have defined processes with discrete output and values.