After your systems have been in place long enough for people to get a real feel for how well they work, you'll want to conduct a brief review to confirm that they are performing as well as they should be. If you find problems, the sooner you deal with them the better. Following is a list of points to consider for each of your new systems.
Simple to use/Clear — Do people have difficulty using the system? How easy is it to teach to others? How easy is it for people to learn?
Easily monitored — Is the efficiency of each system easily tracked by your system or does the process slow things down? Is everything being tracked that should be tracked?
Efficient — Is the system as cost effective as possible? Does it utilize human resources as efficiently as possible?
Valuable — How important to your business is this system? Is it worth the time, money, and energy that it absorbs?
Productive — Does the system produce its output at an acceptable rate? Does it keep pace with its connecting systems? Are the results timely and accurate?
Impervious to mistakes — How often do mistakes occur? Is this rate acceptable?
Versatile — Is the system flexible enough to handle everything it is required to accomplish? Will this hold true for the future?
Secure — Is the system as tamper-proof as is necessary? Are there ways for people to easily (accidentally or otherwise) take advantage of weaknesses in the system?
Endurable — Will the system last for many years to come, or will it need to be updated regularly?
Safe — Does the system present any safety concerns for those using it? Does it present any safety concerns for the company?
Following is a basic outline for the financial sections of your Business Systems, and your Business Calendar. If there are any incomplete or missing items, plan to complete them before moving on to the next book.
Updated Financial Organizational Structure
Incoming Financial Controls
- Sales Receipts System
- Cash Receipts System
- Credit Management System
- Invoicing and Accounts Receivable System
- Collections System
Outgoing Financial Controls
- Purchasing System
- Cash Disbursements System
- Accounts Payable System
- Inventory Control System
- Payroll System
- Bookkeeping System
- Accounting System
- Budgeting System
- Financing System
- Pricing System
- Tax Filing System
Financial Systems List
- Review your ongoing Financial Systems List and complete any financial systems not yet designed.
- Organizational Transition Plan
- Systems Review Dates
- Strategic Indicator review dates
- Strategic Financial Indicators
- Financial Reports