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Are you receiving the information necessary to effectively manage your business in this fast-paced environment?

Are you spending too much money on your accounting function and not getting the value-added information and advice you need?

Management requires accurate, timely and reliable financial information to maximize results and pinpoint areas for improvement. But because companies often struggle to make effective use of their accounting system’s capabilities, they may not have the financial information needed to make good business decisions.

Another common challenge businesses face is improving the operational processes of their finance operations to reduce costs and improve customer service. Accounting departments often fall into two scenarios: there are too many people and best practices are not being utilized to gain efficiencies, or there isn’t enough staff, which results in excessive turnover and low value-add to the business.

Working with outside advisors to conduct a review of your accounting system and finance department can help improve profitability and identify inefficient operations and inadequate systems.

How we can help
The experienced professionals at RSM McGladrey offer assistance in evaluating the effectiveness and efficiency of your accounting and finance departments. Working closely with you, we develop an in-depth understanding of your strategic objectives — helping to determine whether these departments are effectively supporting the goals of your organization.

Our approach to assessing the performance of any finance operation includes:

People

• Review current organizational structure, including roles and responsibilities
• Understand staff capabilities based on current and proposed department responsibilities

Process

• Assess efficiency and effectiveness of current business processes compared to best practices
• Review all primary financial functions

Management information

• Assess management tools, systems and reporting, and compare to organization’s needs and best practices

Implementation

• Develop a high-level implementation plan to address organization, process and reporting improvements
• Work with management to implement the changes necessary to achieve a high-performing accounting and finance function 

As part of this approach, we provide the following:

• Executive summary of our findings
• Recommendations, which includes features and benefits of each recommendation
• Strategies for implementation of recommendations

Why RSM McGladrey
We understand you face unique challenges evaluating the effectiveness of your finance department. With this in mind, we offer a customized approach that’s based on your needs.

Because our organization is structured to align with industries, our consultants have experience in several key industries including manufacturing, distribution, health care and financial services. And as part of our full-service strategy, we offer a complete range of business consulting services. We provide risk management, technology, human resource, operations and strategy consulting in addition to our financial management services.