As business leaders, we know the importance of a well-informed decision to take action. Armed with the knowledge of a poorly performing location, we can take steps to adjust and improve. Armed with the knowledge of where margins are likely to suffer and erode, we can safeguard the process and profits. Without up-to-date data to support our decisions, at best – we make our best guess; worst case – we fly blind. The clock is always ticking. A report that is weeks, even days, old – diminishes in value with every tick of the clock. Consider how much you, your colleagues, and your business would benefit from real time dashboards that presented financial and other key data each individual needed to make the most well informed decisions?
Moving from Report Generation to Report Interpretation
The truth is accounting business leaders would like nothing more than to provide their colleagues with key financial information about their departments, programs and projects. Yet most accounting and finance departments are struggling with getting period end closes completed in a reasonable amount of time. Here are some survey* results indicating the top bottlenecks in the monthly close process:
- 26% Manual processes vs. automated
- 24% Systems not integrated
- 12% Staff shortage
- 10% Inadequate data
- 9% Processes not followed
- 8% Staff lack of skills
- 7% Process undefined
As wide-spread as the problem of stale information is, there is a very simple solution: leverage technology. Equip your team to better serve the business with tools and systems designed for today’s business. Limping along on an inadequate financial accounting system is a detriment to the entire organization. JOSEPH EVE works with hundreds of businesses and in addition to offering the software tools to replace costly, time-consuming manual processes, we also work with you to evaluate your current state in order to develop the complete system of processes and systems necessary to usher in the ideal environment to achieve your goals – we call it the Finance Transformation Process.
If part of that process involves the purchase of financial accounting software we work with you through our Smart Start Methodology. The reason we do this is to ensure that before you invest in software and technology, you have the right processes in place.
The JOSEPH EVE Team wants to ensure that you have better processes, better controls, and that the total cost of accounting functions is reduced. We work with you to increase efficient, eliminate as much manual work as possible, and free up more time for you to work on higher value activities. If you are committed to moving from report generation to the more valuable work of report analysis, JOSEPH EVE welcomes the opportunity to help you bring about the transformation. In the meantime, please be our guest at any of the many webcasts we offer each month – you can find the complete agenda and topic details here.
At your convenience, give us a ring 406-752-5225 or Email Us.
*The CFO Evolution™ Benchmark Survey Results, December 2010, Armanino