Finance Function Excellence

Improving the Finance Department by:
Policies & Procedures, Processes & Authority Matrix The Policies & Procedures Manual and Authority Matrix brings objectivity, clarity and discipline in the conduct of operations of finance department and the controls defined for various key processes helps the organization in achieving its corporate objectives.
Internal Control Strength.
Strong Internal Controls help prevent errors and irregularities from occurring. If errors or irregularities do occur, internal controls will help ensure they are detected in a timely manner.
Enterprise Risk Management.
ERM is a way to effectively manage risk across the organization through the use of a common risk management framework. This framework can vary widely among organizations but typically involves people, rules, and tools. This means individuals with defined responsibilities use established, repeatable processes (rules), and the appropriate level of technology (tools) to mitigate risk. ERP, Budgeting and Planning, Costing A true Enterprise Resource Planning (ERP) system integrates both internal and external information flows used by the organization within a single, comprehensive solution. Budgeting & Planning provide a method of allocating and using resources within the organization and help to monitor and control operations.  Costing is useful for identifying the exact causes for decrease or increase in the, profit/loss of the business. It also helps in identifying unprofitable products or product lines so that these may be eliminated or alternative measures may be taken.
Process improvement.
Process improvement is an aspect of organizational development (OD) in which a series of actions are taken by a process owner to identify, analyze and improve existing business processes within an organization to meet new goals and objectives, such as increasing profits and performance, reducing costs and accelerating schedul
Cost Optimization.
Finding an alternative with the most cost effective or highest achievable performance under the given constraints, by maximizing desired factors and minimizing undesired ones.
Training for the Finance and other Department on the above.
On Target Consulting (OTC) can provide trainings for the above mentioned services as it has vast experience in executing such kind of assignments.