April 18. 2012 | Rebecca McDonald
Accounting Department Tune-Up
After frequenting the car repair shop recently to keep my aging car on the road, it dawned on me that accounting departments – like our cars – need tune-ups. Whether it’s a simple rotation of responsibilities or swapping out software, you want to make sure your department is running like a well oiled machine and you have a reliable accounting advisor in case of a blowout.
With that said, my career as an auditor and consultant has afforded me the pleasure of observing some very effective accounting teams and others that are in much need of a tune-up.
Often, accounting departments just need a fresh vantage point on how the department is approaching its daily workload. There may be hidden talents and gems in your group and the restructuring of responsibilities can make all the difference. Shuffling the workload or streamlining a process can add efficiency and increase productivity. Sometimes replacing a part or two is in order. While this can be a daunting task, like new oil it improves the functionality of the team and can breathe new life into the group. We can provide the guidance and support in navigating these difficult tasks.
In other cases, it is a matter of technology. Software tools like QlickView and SharePoint help accounting departments and management stay connected with real time reporting and data management. How much time does your team spend recreating reports for management in Excel? Think of the margin for error. With QlickView, management has financial reports at their fingertips. With on demand access to reporting data that management needs to make decisions, they no longer have to task accounting to run that report again. SharePoint, for example, can automate the accounts payable approval process. It not only saves a few trees, but also eliminates the headaches of tracking down invoices. Gone are the days of invoices sitting on a project manager’s desk waiting for approval. Automating transforms it into a transparent process. These tools are cost effective ways to streamline key processes in the accounting department.
We are the trusty – with a strong emphasis on trusty – mechanic who will let you know what is really going on under your accounting department’s hood. Or think of Watkins Meegan as your rental car when you have an open accounting position; we’ll keep you on the road until you get the position filled. Watkins Meegan specializes in accounting department tune-ups, from consultations on your current procedures and restructuring support to technology improvements that incrementally increase efficiency and provide cost savings. We can help. Give us a call, and let’s rev up your accounting team’s engine.
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