Accounting Process
Improvement Seminar

Seth Zarny – Partner
Buu-Linh Tran – Manager
Jeremy Taro – Business Development

T...
WHAT’S ON TAP

 INTRODUCTIONS & AGENDA
 CATALYST FOR CHANGE
 EVIDENCE THAT PROCESS IMPROVEMENTS ARE NEEDED
 DO WE NEED...
INTRODUCTIONS


YOUR ORGANIZATION
• Overview
• Size – Employees
• Current Accounting Solutions
• Challenges



RAFFA
• O...
CATALYST FOR CHANGE


INTERNAL INITIATIVES



NEW TECHNOLOGIES



NEW SENIOR MANAGEMENT/ CFO



NEW STRATEGIC GOALS

...
EVIDENCE THAT PROCESS
IMPROVEMENTS ARE NEEDED
 SIMPLE TASKS TAKE TOO LONG
 TOO MUCH TIME VALIDATING DATA
 EMPLOYEES COM...
EVIDENCE THAT PROCESS
IMPROVEMENTS ARE NEEDED
 INFORMATION IS NOT EASILY ACCESSIBLE
 HAVING TO ACCESS INFORMATION IN MUL...
DO WE NEED A NEW ACCOUNTING
SYSTEM?
 REVIEW CURRENT OPERATIONS
 IS SOFTWARE VERSION OLD? INCOMPATIBLE WITH EXISTING
TECH...
KEYS TO RESOLVING PROCESS ISSUES

 ADDRESS END TO END PROCESSES









Meet with individual process owners (ask ...
KEYS TO RESOLVING PROCESS ISSUES








Identify one-off process / exceptions
Identify system automation (identify ...
PROCESS IMPROVEMENT
RECOMMENDATIONS
 UTILIZE SYSTEM SELF-SERVICE FUNCTIONALITY
 LEVERAGE SYSTEM TO AUTOMATE TASKS
 CENT...
PROCESS IMPROVEMENT
RECOMMENDATIONS

 UNDERSTAND REPORTING REQUIREMENTS
 DEVELOP USER MANUAL TO ADDRESS THE ENTIRE
PROCE...
MICROSOFT DYNAMICS GP
 REPORTING





Smartlist
Excel Report
Management Report
SSRS (self servicing)

 COST ALLOCATI...
INTACCT
 REPORTING / DASHBOARD


Financial



Custom



Standard

 GRANT MANAGEMENT


Financial vs Nonfinancial data...
QUESTIONS

Page 14
THANK YOU!

Seth Zarny
Direct: 301-279-6500
E-mail: szarny@raffa.com
Buu-Linh Tran
Direct: 301-279-6511
E-mail: btran@raff...
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2014-02-25 Enhance Business Productivity Leveraging Your Financial Software

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  • Interview process:Ask is it necessary?Does it add valueWhy a process or procedure is performed?Why is it manual? Why can’t the system perform the task?Why an output is needed?Challenge current processValidate what you’ve been toldCheck w/ other process ownersCheck with other staff performing the same or similar tasksReview all inputs/ outputsQuestion what data is needed forDetermine accuracy of the data producedQuestion what dept/ person use the data and whyQuestion if the frequency is appropriate
  • 2014-02-25 Enhance Business Productivity Leveraging Your Financial Software

    1. 1. Accounting Process Improvement Seminar Seth Zarny – Partner Buu-Linh Tran – Manager Jeremy Taro – Business Development Thrive. Grow. Achieve. February 25, 2014
    2. 2. 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 Page 2
    3. 3. INTRODUCTIONS  YOUR ORGANIZATION • Overview • Size – Employees • Current Accounting Solutions • Challenges  RAFFA • Overview • Seth Zarny • Buu-Linh Tran • Jeremy Taro Page 3
    4. 4. CATALYST FOR CHANGE  INTERNAL INITIATIVES  NEW TECHNOLOGIES  NEW SENIOR MANAGEMENT/ CFO  NEW STRATEGIC GOALS  BOARD DIRECTIVES  TIME FOR A CHANGE Page 4
    5. 5. EVIDENCE THAT PROCESS IMPROVEMENTS ARE NEEDED  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) Page 5
    6. 6. 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 Page 6
    7. 7. DO WE NEED A NEW ACCOUNTING SYSTEM?  REVIEW CURRENT OPERATIONS  IS SOFTWARE VERSION OLD? INCOMPATIBLE WITH EXISTING TECHNOLOGY?  REVIEW AVAILABLE SYSTEM FEATURES  IDENTIFY 3RD PARTY ADD-ONS  NEW ACCOUNTING SYSTEM IMPLEMENTATION Page 7
    8. 8. 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.) Page 8
    9. 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) Presentation Title / Page 9
    10. 10. PROCESS IMPROVEMENT RECOMMENDATIONS  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 Page 10
    11. 11. PROCESS IMPROVEMENT RECOMMENDATIONS  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 Page 11
    12. 12. MICROSOFT DYNAMICS GP  REPORTING     Smartlist Excel Report Management Report SSRS (self servicing)  COST ALLOCATION  Variable vs Fixed  GRANT MANAGEMENT  Financial vs Nonfinancial data  REVENUE / EXPENSE DEFERRAL Page 12
    13. 13. INTACCT  REPORTING / DASHBOARD  Financial  Custom  Standard  GRANT MANAGEMENT  Financial vs Nonfinancial data  RECURRING BILLING  COST ALLOCATION  Fixed Page 13
    14. 14. QUESTIONS Page 14
    15. 15. THANK YOU! Seth Zarny Direct: 301-279-6500 E-mail: szarny@raffa.com Buu-Linh Tran Direct: 301-279-6511 E-mail: btran@raffa.com Jeremy Taro Direct: 301-279-6504 E-mail: jtaro@raffa.com Page 15

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