Focus
Enhance the operational efficiency of financial practices, establish a framework for standardizing financial management procedures, and deepen the Operations Manager’s understanding of the tools available in QuickBooks Online (QBO).
Services Provided
1:1 technical assistance, including evaluating existing financial processes, hands-on QuickBooks training to review existing financial procedures and identify ways to streamline operations, and a review of standard operating procedures for improved financial tracking.
Challenge
SGBN faced challenges in efficiently managing its financial processes and was months behind in generating up-to-date profit and loss reports. The Operations Manager needed clarity on what to look for in QuickBooks to effectively identify issues. Additionally, their bookkeeping procedures relied heavily on manual data entry, which contributed to delays in reporting.
Our Approach
To enhance operational efficiency at SGBN, we employed a structured approach centered on assessing current practices, delivering targeted training, and establishing clear procedures.
This included:
Evaluation: Conducted a thorough assessment of SGBN's existing financial processes to pinpoint inefficiencies and identify opportunities for improvement.
Interactive Training Sessions: Facilitated hands-on QuickBooks training that empowered the Operations Manager to better understand key metrics and identify issues early within the reports.
Standard Operating Procedures Development: Offered tailored recommendations for developing clear and consistent financial management procedures, enhancing overall workflow efficiency.
Outcomes
The technical assistance contributed to improvements in SGBN's operational efficiency and organizational effectiveness, helping the team better serve the local business community.
Proficiency in QuickBooks: The Operations Manager gained essential skills in QuickBooks Online, enabling her to navigate the software and utilize its features more effectively.
Improved Understanding of Financial Procedures: The training clarified key financial management concepts, enhancing the Operations Manager’s ability to implement best practices in their operations.
Foundation for Standard Operating Procedures: Initial recommendations for developing clear financial procedures were introduced, providing a groundwork for further refinements and consistency in operations.
Conclusion
The technical assistance provided by Launch Industries positively impacted SGBN's operational efficiency. By focusing on training and the development of standard operating procedures, SGBN is now better positioned to enhance its mission of supporting local businesses and building a stronger community.
