Process & Controls Implementation
Every Little Step…
…And there are many in an organization. But how does a relatively younger organization, particularly one that has a steep private equity maturation curve, know the procedural steps they have overlooked? How does a more mature organization begin to recognize its deeply ingrained process inefficiencies, much less address them? They don’t – at least not without the help of experts who can assess and analyze the current process and control state and then advise and implement to create meaningful change. We’re talking about the kind of value creating change that warms a sponsor’s heart: overall cost reduction, resource and technology optimization, effective in-out cash flow management, etc. etc. etc. Enter Accordion.
The Accordion Approach to Process & Controls
Assess, analyze, advise – Accordion takes this alliterative approach to reengineering corporate processes and controls. That transformation begins with an exhaustive review of the company’s finance and accounting process lifecycle: from procure-to-pay (P2P), to order-to-cash (O2C), to record-to-Report (R2R). Accordion will recommend, and lead, process reforms that will help optimize, and, in certain cases, transform the F&A lifecycle.
Finding the Process ‘Where’
The first step toward improvement is a step toward the mirror. At some companies this honest look at the current state will be more painful than at others. But universally, there will be room for improvement. Finding the process ‘where’ is where we come in. Accordion painstakingly maps the current transaction lifecycle: from the moment it comes in to the moment it is invoiced/collected. And then we find the cracks along the way to provide our clients with prioritized people, process, and systems reforms that will result in meaningful improvement.
A Controlled Step
A control review is often a step taken in tandem with a process assessment, but it too can be an important bespoke initiative, particularly in organizations without any current control state. Accordion helps clients right-size and maximize a control environment so that all proper steps are put in place without placing undue burden on a resource-strained finance function. For companies who have plans to trade on the public record, we’ll take the extra step to execute a SOX-compliant control work stream.
The Final Step
Accordion assesses, analyzes and advises, we lean in to implement. We don’t leave behind a whitepaper, we leave behind a process – a process that we tackle, perfect and then provide our clients with the tools and training they need for continued execution.
We approach process improvement by first correcting for inaccuracy and control gaps, and then developing and implementing processes that allow for scalability, efficiency, and better analytics.