Business System Strategy & Selection
A good business systems selection process requires an unbiased and pragmatic approach to improve the usefulness of technology with the vision to find alignment between your Business Processes and available supporting Application Systems.
The technology marketplace constantly evolves—with a steady stream of options available to help you run your business. Deciding how to change your technology environment to support your operations, however, can be difficult.
You need sustainable, scalable systems that provide the flexibility to easily adapt to your changing business requirements and carry you into the future. Implementing a solution that won't meet your long-term needs just doesn't make economic sense.
If your current system is not effectively supporting your business needs, we guide you through a thoughtful process to evaluate and choose the right solution from the vast array of alternatives.
- Ability to support the overall business strategy and objectives
- Current and future functional requirements
- Reporting and regulatory requirements
- Technical requirements and overall technology strategy
- Solution's ability to adapt to changing needs
- Business process improvement enablement
- Ease of use
- Ease of implementation and fit for your organization
- Total cost of ownership
- Understand Vendor strategy and viability
Our system selection methodology and project leadership ensure you consider the relevant criteria and help you meet your project timelines. In addition, our approach helps you plan for the new system's implementation and set realistic goals and expectations regarding timing, budget and impact to the organization.
With Kinetic CPA Group, LLC's proven, unbiased approach to Business Systems evaluation and selection advisory services, making important decisions related to your software and systems is much easier.
Business Process Optimization
Kinetic CPA Group, LLC's optimization services make your business more efficient, your operations more profitable, and your peace of mind complete.
The scale and scope of routine administration adds to the burden of management in every successful company. In particular, the personal nature of billing and collections can be difficult to organize and challenging to monitor. For business process optimization to work, it needs to be fast, flexible and secure: the key characteristics of our service offering.
Business process optimization offerings from Kinetic CPA Group, LLC include not only billing and collections but also bank reconciliations, accounts payable and other financial processes: everything is made much simpler, reducing the routine demands on your staff's valuable time.
Business Process Optimization Services
- Billing – develop services with built-in workflow to help manage WIP, generate draft bills, make revisions at the direction of your company and generate final invoices. Our experts are highly skilled and proficient in various accounting systems, billing platorms and more, to deliver efficiencies to your billing practices.
- Collections - Using Kinetic CPA Group, LLC's collections solution in combination with highly experienced resources, Kinetic CPA Group, LLC's collections operations as a service manages A/R processes from handling disputes, creating and following up on promises to pay, and more to increase your company's collection realization.
- Reporting - Financial reporting, management reporting, financial statement preparation, and more.
- Accounts Payable - Kinetic CPA Group, LLC's AP Services follow industry best practices to manage and maintain visibility of available free credits, payable days, purchase order mandates, and Accounts Payable cycle efficiency.
- G/L & Journals - Kinetic CPA Group, LLC adheres to GAAP and other applicable accounting standards and ensures that the results delivered to your business are accurate and meet the required timeline on a cash, accrual, and modified cash basis. Kinetic CPA Group, LLC's process management of your firm's G/L & Journals is positioned to provided support from G/L postings and reconciliations, fixed assets and intercompany accounting, to general accounting and bank management.
Benefits of Business Process Optimization
- Integrated technology and services - End-to-end finance strategy utilizing industry experts in combination with future-proof technology architecture focusing on client experience, continuous innovation, and outcome-based service.
- Reduced IT, operational, and people costs - Decommission costly disparate systems that need constant maintenance to manage the business; reduce or re-allocate employees to focus on core competencies or drive value elsewhere; and reduce space requirements for on-premise IT infrastructure.
Contact Kinetic CPA Group, LLC today to determine if business process optimization is right for you.
KPIs & Metrics
KPIs (or Key Performance Indicators) are critical to navigating the complicated waters in your industry. Without knowing which metrics are important, how to objectively measure them, or leverage them for future performance improvement, your business runs the risk of falling behind.
Five (5) Reasons why KPIs are important
- You can measure your targets – KPIs are not goals or targets, rather they are a measurement of goals and targets. For instance, if your goal is the sell a certain amount of widgets each month, a KPI might indicate your sales team is only generating 75% of the desired amount of leads against a pre-determined benchmark.
- Create an atmosphere of constant improvement – Having KPIs and knowing them provides immediate educative atmosphere within your company. This leads to important conversations and gets to the root cause of unfavorable results quickly.
- Receive important information – KPIs provide a snapshot of the most critical and actionable information, which in many ways cuts through the risk of information overload.
- Encourages accountability – Since by their nature, KPIs must ﬁrst be objectively set, poorly performing employees can hardly argue their case when measured against results.
- Boost morale – Employee motivation and job satisfaction is one of the most important aspects of attracting and retaining top talent. Using KPI success as a way to reward top performers will do wonders for your bottom line.
Training for Internal Employees
If your organization needs help understanding regulatory requirements or simply lacks the resources to provide formalized training to employees, our team of experienced professionals can provide the support you need.
Your employees are your greatest asset, and with our professional and industry-speciﬁc knowledge, we can help ensure that they fully understand expectations so your business runs eﬃciently and eﬀectively.
To be DCAA compliant, Government Contractors also need to prove you conducted the training and remediated deﬁciencies in process along the way. Kinetic CPA Group, LLC can help you track internal employee training hours and document remediation activity.
Begin with the end in mind. When growing your business, it's important to position your business to achieve the highest possible value when you're ready to sell. For Government Contractors, a portfolio of contracts and backlog is a big factor dictating potential buyer pool and driving terms of oﬀer.
Some things to think about:
- Chart your plan now, but be prepared to adjust going forward.
- Reduce risk. When possible, over time, take some chips oﬀ the table (money out of the business) to minimize risk and diversify your retirement nest egg
- Manage expectations. Drill down on what your company is really worth. Remove non-recurring or excessive items. Project revenue over the next ﬁve years.
- Plan ahead. Develop a comprehensive due diligence checklist for internal review and check-up. Re-evaluate your owner's agreement.
- Financial Health. Ensure your company's books and records are in order and up to date. Is your company complying with the bi-laws and distribution rules? Have your ﬁnancial statements been reviewed or audited by independent auditors? Are they in compliance with GAAP and the FAR?
- Key employee and executive retention. Ensure your employment agreements consider the impact of a sale of the business and you can ensure continuity of service to the buyer.
- Determine your starting point. Get started today with your exit strategy planning