NLMK Recommends: Diagnostics of Supporting Business Processes by CSC
Diagnostics by the Corporate Solutions Centre (CSC) shows the current state of your accounting functions: where you have losses, where risks lie, as well as opportunities to gain efficiency without adding headcount.
The diagnostic methodology consists of three stages, each of which is important for shaping the improvement plan.
Stage 1. Assess process maturity using a checklist
We assess the following processes, assigning scores on a scale from 1 to 5:
● Period close,
● Settlements with counterparties,
● Treasury and liquidity management,
● Statutory and tax reporting,
● HR administration,
● Document flow in the company.
Deliverable: a table with scores indicating which processes are on track, which are less efficient, and which require urgent intervention.
Stage 2. Build an improvement map with effects
Based on the maturity assessment, we develop a concrete action plan. For each process that requires changes, we show:
● As-Is level (score),
● To-Be level, the level you can reach,
● Gap, or what exactly does not meet the To-Be state,
● Improvement tool, or what we implement or change,
● Effect, or what you gain in quantity or time.
Deliverables: two documents — a matrix of priority improvement initiatives and a roadmap for execution.
Stage 3. Benchmark processes against industry leaders
The diagnostics will show how your company compares against others in the industry.
Deliverables:
● Assessment of your company’s current maturity level,
● Market average levels,
● Leaders’ levels — the companies with a high level of maturity,
● The gap between you and best practices, taking into account the industry specifics.
You will be able to understand what level is realistically attainable, which tools are needed to get there, and what gains you will capture from reaching the leading levels.