An RBG Services Consultant can conduct an intensive focused review of the finance and accounting functions designed to provide insight into the operations, overview and identify issues, risks and opportunities for the organization. The BPR includes:
Developing Understanding of the business processes and functions, including:
- The Key business cycles: Order to Cash, Procure to Pay
- Functions: General Accounting, Payables, Collections, FP&A, Financial Reporting
- Accounting Roles and Responsibilities
- Human Resources and Payroll
- Financial Reporting – Detailed review of existing documentation (including key financial, operational, and contractual information) and key performance indicators
- Control Environment
- Assessment of the current IT infrastructure
Document an understanding of the “current” finance and accounting environment in terms of:
- People – organization structure, management, staffing levels, capabilities, workload, etc.
- Processes – accounting policies, procedures and internal controls
- Information – financial and management reporting
Systems – Document the current systems, identifying process issues; adequacy and control issues
- accounting and reporting systems
Identify risks that need to be addressed and opportunities for improvement
Develop a project plan to address the risk and opportunities identified in the BPR