Business processes are the basic component of operations, functionality, and productivity. As businesses grow and evolve, explicit controls must also evolve to keep up with changes. Process controls promote:
- Reduced expenses
- Improved quality
- Reduced time spent
- Increased production and throughput
- Reduced training time required
- Reduced risk of fraud
When Process Control Management is Necessary
There are several times in the lifespan of a company that process controls will need to be reevaluated. Some of these times are times of growth and others are to prevent problems.
Process Controls Reevaluation For Growth:
- Establishing a new company at the entrepreneurial level
- When the company has experienced rapid growth
- Your software is older than 4-5 years
- You are expanding locations and/ or operations
- Your capabilities are not being fully optimized
- Your current process controls can’t support an upgrade
- There are changes to regulatory requirements
Corrective Process Control Evaluation:
- You suspect fraud
- Your expenses outweigh the revenue
- Your processes are taking too long to accomplish
- Deficiencies are identified
How Benchmark Associates Can Help
At Benchmark Consulting Group we help you identify your company goals and then can help you develop your process controls. Our business executives help keep client teams focused, documents the current process, asks questions to clarify, and point out areas for improvement opportunities. We can also help you assess where software updates or technology implementation can improve the process and enhance productivity.
Because of our long history of executive experience, we can help you identify internal controls that include expected standards of conduct, ethical values, and establish a culture that reflects the established process controls. When the executive team is one cohesive unit, the result can have a persuasive impact on the entirety of the company.
If your process controls are lacking, contact us for the guidance and support you need to develop effective policies and procedures.