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Business Workflow Process Improvement

ACCT858 Presentation St. Patrick's Day 2014
by

Benjamin Klimisch

on 11 March 2014

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Transcript of Business Workflow Process Improvement

Purpose of a business
Effective vs. Efficient
Consequences of Business Workflow Innovation
Income Inequality

Workflow: The Definition
Business Workflow Process Improvement
SALY Kills Innovation
Focuses on current situation rather than future possibilities.
An ounce of prevention is worth a pound of cure.
"Corporations have a responsibility, first of all to make available to the public quality goods and services at fair prices, thereby earning a profit that attracts investment to contine and enhance the enterprice, provide jobs, and build the economy." -Business Roundtable trade group 1981
What is the Purpose of a Business?
"Socail responsibility of business is to increase its profits." - Milton Friedman, 1970
Activity-Based Costing
Theory of Constraints
Six Sigma
Kaizen
Hybrids
Methods of
Improvement

Accounting
Finance
Administration
Information Technology
SALY

Business Functions
and Processes
Effects to the
Entire Business
What is the purpose of a Business?
Accounting / Finance
Same As Last Year
Activity-Based Costing
Theory of Constraints
"Workflow is the flow of information and control in a nonmanufacturing process. These applications vary from simple processing of expense reports to complex loan processing applications." Institute of Managerial Accountants, 2000.
Six Sigma
Kaizen
Hybrid Method
Administration
Information Technology
Audit Procudure Guidelines
Account Reconciliations
COPQ (Cost of Poor Quality)
DMAIC
DMEDI
Difference
DMAIC - find common use to improve existing processes to meet customer needs.
DMEDI - help in establishing new processes or changing processes after defining customer needs relative to a product or service.
Lean management
Six Sigma
Interrelation
Steps
Select activities for improvement
Determine root causes for the activity performance as it exists
Discover and implement modifications
Assess the impact of the changes
Six Sigma/ TOC
TOC to identify constraint
Use Six Sigma to quickly address COPQ
Auditing
Period End closing entries
Budgeting Forecasting
Payroll
Accounts Reconciliations

Income Inequality
Human Resources/ Hiring
Copying/faxing
Scheduling appointments
Relaying information
Agency Theory
Agents (Management) act on the behalf of the principles (Shareholders)
Agents often have different motives than principles
So if we as a company are socially responsible for increasing profits how do we get management to buy in?
Unnecessary Workflows
Discussion
Is it wrong for executives to get paid more?
Are employees an expense or an asset?
How should workflow innovations be used?
Effective Vs. Efficient
Effective: successful in producing a desired or intended result.

Efficient: achieving maximum productivity with minimum wasted effort or expense.
Conclusion
How not to treat employees
Process of reconciling General Ledger and department schedule
Needs to be done timely
Evidence needed from department to support reconciling items
Process may need to be approved by superiors
Implementing Improvement Methods
You are only getting paid for your neck up.

Spending 2 extra hours this month to save 15 minutes each month after will pay off in less than a year.

No one improvement process is better, but rather a system of analysis and review of current system is necessary for continuous improvement
Information technology is key in implementing and maintaining automated workflows

Proper controls of information is necessary to insure reliability of information
Human Resources process Example
Submit Resume and Cover Letter
Employment Application
Screening Process
Interviews
Screening Process
Interview
Offer Letters
Employment forms
On boarding Process
IT Controls and Automated Workflows
Better physical controls of who can access information

Read only allows for no changes to be made

Time stamps and unique login information create better support
Full transcript