FD Group Pillars - Systems
"Systems development is a continuous process allowing a business to operate or deliver its products or service in a consistent and effective way"
Financial and Business Systems are essential to control as it grows and develops. By improving the Financial and Business Systems, development will become more manageable, predictable and rewarding.
When a business starts, the owner performs all the tasks that need to be done and keeps a lot of information in his head. As business development increases, the owner does not have time to handle all the tasks and engages other people to support him. This is when Financial and Business Systems become a priority.
In simple terms, System Implementation and Development involves:
- Documenting processes and procedures
- Creating channels of communication
- Automating processes to reduce time and minimise error
- Training employees to use effectively the systems put in place
- Introducing management controls and checks
Having effective Systems gives rise to four key benefits:
- The business operates in a consistent and predictable way - this is important to all stakeholders: customers, suppliers, employees, shareholders and financial lenders alike.
- It creates financial efficiencies and time savings where tasks can be automated or done at the lowest possible level of skill, reducing cost and freeing up time of higher skilled personnel.
- Systems allow management to manage which is achieved by good development of channels of communication and effective information systems.
- Systems create value and with reduced dependence on the owner, a business becomes more valuable and easier to sell.
Our Finance Directors will work with you to implement Systems, both within the finance area and throughout your business. This involves:
- Documenting how things are currently done
- Reviewing your information needs
- Reducing manual input by automation - 'one piece of information once'
- Rationalising and connecting different systems
- Putting in place controls and authorities
- Setting up security, archiving and back-up procedures
- Identifying training requirements
At The FD Group, we have developed a Financial Procedures Manual to ensure you have the controls in place to meet your business process requirements. This manual sets out the financial rules to guide your business as it grows and develops.
Get in Touch
If you want to take control of your Financial and Business Systems, but don't know where to start, call our Finance Directors on 0800 112 3375 today or complete our where we will be in contact with you shortly.
