case studies
Financial services
Financial Accounting Process Review
- Client
- A Major Insurer
- Sector
- Financial services
Project description
The Financial Accounting function of the Property Services Division of a major UK composite insurer anticipated major system and process change twelve months hence. However, there was a view that interim process improvement were achievable and would be beneficial.
ItemPlus Consulting were asked to undertake a short review of the Sales, Purchase and General Ledger functions, Credit Control processes and Financial Services Administration.
This involved:
Outline Process Flows
The outline process flows and methods were researched and documented at a high level.
Improvements
These process flows and supporting documentation were then critically examined to identify opportunities for improvement.
A series of proposals for improvements to process and organisation were then developed, documented and presented to the project sponsor and other managers.
Outcome
The proposals were accepted and have been successfully implemented.
