Introducing the Process Mapping Assessment
When you start your journey with Ascentis, to help us understand your business we perform a Xero Health Check which evaluates your financial software to ensure it is set up correctly, in addition to a full Process Mapping assessment.
Process Mapping is a detailed assessment of every financial operation in your business. We take a deep dive into your software, team, sales processes, purchases, wages and your balance sheet with the ultimate goal of finding areas to improve or opportunities for growth that your previous accountant may have missed.
Our dedicated team of expert accountants aim to understand every aspect of your accounting and financial operations so we can provide you with a higher level of service.
What Is Included In Process Mapping?
In the process mapping assessment, we thoroughly evaluate your financial operations across various domains. We assess your software tools and platforms, ensuring they are optimally configured for efficiency and accuracy in financial processes.
From there, we will delve into your team structure, identifying key personnel responsible for different aspects of financial operations. For your sales functions, we’ll perform a review of your sales processes to enhance transaction types, improve record-keeping, and provide recommendations for more efficient sales operations. Then, we will analyse your purchase processes to optimise order management, streamline purchase invoicing, and ensure supplier relationships are well-structured.
When it comes to people management, we’ll examine your payroll processes, including timesheets and payroll software, to enhance accuracy and compliance with relevant regulations. We will look into the detail and scrutinise key balance sheet items such as fixed assets, stock, debtors, creditors, and factoring, identifying areas for improvement and growth opportunities within your financial structure.
Process mapping meticulously evaluates your financial operations, uncovering inefficiencies and bottlenecks. By streamlining processes and eliminating unnecessary tasks, it significantly enhances operational efficiency.
With a comprehensive understanding of your financial processes, you can make well-informed decisions. Process mapping provides insights into areas needing improvement and growth opportunities, enabling you to chart a clearer course for your business.
Identifying and rectifying inefficiencies through process mapping can result in substantial cost reductions. By optimising processes and eliminating unnecessary expenditures, you can improve your bottom line.
When our experts thoroughly understand every aspect of your financial processes, they can provide you with a higher level of service and advice as accountants. This deeper insight enables us to offer tailored recommendations and solutions that align with your unique business needs, ultimately driving better financial outcomes.