The most obvious benefit of finance processes optimization reflects an increase of service and quality, documents are processed quickly and accurately. As a result, your company reduces time spent to approval processes and your financial operations get more transparency.
Imagine for a moment how much time you can save by replacing spreadsheets that require manual updates with fast and reliable workflows. Manual processes tend to be slow and can result in billing delays. An optimized and smart process design is important to achieve results. By increasing the efficiency of business processes such as reinsurance, invoice processing, expense claims, budgeting and billing, your company gains productivity, reduces errors and ensures better control.
Useful modifications of finance processes can range from small smart features to the complete automation of complex multi-step operations.
SharePoint workflows are probably the most useful tool for centralizing the accounting functions and invoice processing. Integrating and simplifying these finance operations liberates finance departments from focusing on repetitive tasks in the chain and dramatically streamlines processes.
It is no secret that SharePoint is often utilized to manage large file groups. Any inconvenience of adding/deleting/moving/extracting documents one by one can be easily solved using bulk operation components. These components will allow for a variety of operations for any amount of files with a few clicks using the drag and drop feature.
Visual management techniques such as dashboards can be a great help in uncovering inefficiencies within financial processes. You can conveniently display statistics with tailored tools for creating plots, graphs and charts based on SharePoint lists' data. Also, the Kanban board can be used for representing steps and tasks for any process and revealing bottlenecks in document management procedures. All current tasks’ statuses are clearly visible on the SharePoint Kanban board and tracking of completion activities became simple and transparent.
The solution to better document managing is sequencing and segregation of the data from large SharePoint lists. You can use short and sophisticated SharePoint forms for invoices, reports, data collection and whatever else you require. It is possible to assign view permissions for users or departments and make certain fields or tabs of a single form visible for specific users.
Another useful tool is having a financial SharePoint calendar that enables you to plan ahead for report and payment dates, holidays and corporate events that are color-coded according their categories and also might be overlaid with shared Outlook calendars and individual schedules.
You can increase control of your financial operations and significantly improve the team collaboration with the alerts system. Flexible SharePoint alerts and notifications are able to accelerate tasks execution and optimize the approvals processes.
Now you can ensure any important operations are fulfilled just in time. With key processes automation the finance operations are always done in a timely and efficient manner. The company achieves substantial cost savings due to improved processes and service delivery.
WHAT DOES PROJECT INCLUDE
Finance department project includes consulting, implementation, customization (if required), documentation and user guide preparation, and software licenses.
Finance department process management usually includes the following software:
HOW TO GET STARTED THIS PROJECT
Please send us your request at email@example.com along with a short description of your project and we’ll contact you to arrange a meeting so we can collect all required information to prepare project plan with costs and terms.