Wipfli/Joseph Eve FAO Methodology provides you with the most advance framework, checklists and best practices for ensuring your outsourcing initiative is successful. Our business tools help clients across industries to improve process, regulatory compliance, process transparency and achieve a metrics based environment while significantly reducing the cost structure of delivering accounting, bookkeeping and finance functions. Wipfli/Joseph Eve’s process includes:
- Client Assessment & Discovery
- Design & Risk Assessment
- Service, Support & Monitoring
Wipfli/Joseph Eve recommends using its assessment engine as it creates the framework and best practices for providing outsourced finance and accounting services on the right Service Delivery Platform for your business.
Upon completion of the examination and discovery phase, business analyst will model the current operational infrastructure to reflect a physical diagram of the business operations as it presently exists. Once the physical operating environment is modeled, our FAO business analyst will re-engineer the current operational workflow model to incorporate outsourcing of FA business processes using the right technology platform. This re-design may also include the automation of certain tasks and/or business processes. After process models are re-designed, analyst document recommended procedural workflow and additional software components recommended in the implementation process.
Upon completion of the FAO Design the entire process is reviewed by members of the risk and compliance team. Our FAO Risk assessment should are divided into five areas of risk management:
- Strategic Risk
- Compliance Risk
- SLA Risk
- Exit Risk
The Implementation process involves individuals with technical skills to handle data conversion, GL account grouping and configuration.