4 new imperatives everyone is focusing on in 2016

Transcription

1 Workflow in a New Corporate Tax World. 4 new imperatives everyone is focusing on in 2016 Visibility. Control. Flexibility. Accountability.

2 It all starts with asking how can you get more productivity out of your business? In corporate tax, accounting and finance departments across the country, there are tools traditionally used to track and manage projects from task to task, department to department and end to end. Whether it is an overgrown spreadsheet or another native software solution, most of the processes developed were lacking in at least one of three important categories: information flow, resource management, or overall visibility on project status. So how can improving workflow processes lead to better productivity? Read on to find out more about the 4 new imperatives that can help you create a culture of continuing improvement across all departments. PAGE 1

3 1. Visibility Visibility is the capacity to see where all projects are at any given point in time. As a tax, accounting or finance professional, you should have the ability to look across departments and determine the status of how your team is completing deliverables with respect to timing and budget. Being able to track the process with dashboards or perform an in depth review of a completed job can allow for the proper analysis needed for improvement. From that analysis comes the insight needed to make significant and impactful change. 100% visibility Workflow cuts across all business processes and departments, and addresses the need for a consolidated view of all work to provide full visibility for both management and individuals. PAGE 2

4 2. Control When you have an inter-departmental process that is dependent on others performance, controlling the workflow is vital to the success of your operation. Identifying strengths and weaknesses, alleviating bottlenecks and implementing process efficiencies is necessary for continuous evolution. The willingness to accept and embrace change is the hallmark of every good manager and creating a culture that encourages innovation can position your team for continued success. And real-time adjustments can have an immediate effect versus waiting for historical data to emerge. Top 3 Business and Technology Issues 30% Managing workflow 16% Digital office 12% Implementing technology PAGE 3

5 3. Flexibility If you are going to lead your team in continuous workflow process improvement, flexibility will be key from top to bottom. While a lot can be gained from standardizing your process, consistent and persistent analysis and change will mean that your team must be flexible. And you can encourage flexibility by empowering employees through continuing education and a proactive approach to learning about new technologies that can enhance their own performance. Employees will then feel they can contribute in more meaningful ways. Best Practices High-performing organizations invest wisely in the best solutions for each job function. PAGE 4

6 4. Accountability The hidden costs associated with a good enough approach to inter-department workflow processes can have a long-term effect on a team, department and organization. The idea that we can stay complacent and be satisfied with the status quo needs to be smashed in the new corporate workflow world. Quality and accuracy increases when individuals are accountable for task completion and schedule adherence. Those who focus on accountability will evolve with the changing landscape to find a new level of service and success. Providing departments with a single source of accurate information will benefit organizations from top to bottom. Did you know? 80% of high-performers support a digital working environment 70% of high-performers plan on making additional workflow investments in the future PAGE 5

7 Visibility Control Closing thought... What if you had an online workflow solution that could improve productivity by providing you the tools and controls to manage each part of a project from beginning to end? Now you can. XCM PRODUCTIVITY ENABLEMENT QUAD Accountability Flexibility PAGE 6

8 XCM Corporate Solutions is a division of XCM Solutions, the world s leading accounting and finance workflow platform. XCM Corporate Solutions works with your existing technology systems to coordinate tasks between people and departments, with the ultimate goal of improving organizational efficiency in a paperless environment. Visit or call for more information.