The business process assessment is a tool used to reveal business process improvement opportunities. Many times, companies have business process challenges that go undetected like termites invading the frame of a home. The termites proliferate and cause more and more damage as time goes on and you may not be aware until it is too late! It isn't until you get inside the walls to find that real irreparable damage has occurred. Just like it is important to have your home checked every so often for termite invasion it is important to have your business checked as well.
NVC has significant business process assessment with companies in a variety and business processes including:
Record to Report (R2R) is a Finance and Accounting (F&A) management process which involves collecting, processing and delivering relevant, timely and accurate information. It provides strategic, financial and operational feedback on how a business is performing.
Procure to Pay (P2P) is the process of requisitioning, purchasing, receiving, paying for and accounting for goods and services. It gets its name from the ordered sequence of procurement and financial processes, starting with the first steps of procuring a good or service to the final steps involved in paying for it.
Quote-to-Cash (or QTC or Q2C) is the end-to-end business processes on the sell side: Product (or Service) Configuration. Pricing. Quote creation for a prospect or customer or channel partner, and its negotiation.
Acquire-to-Retire (A2R) is a term describing the collection of processes a company has implemented between the acquisition of fixed assets and the disposition of these assets at the end of their usable lifetime for the company.
Plan to Produce (Pl2P) describes the process of producing goods which includes the initial production planning, the process of preparing the production, producing the goods, and the transaction made for the placement in the warehouse.
Lead-to-Opportunity (L2O) encapsulates all the activities that companies have to perform to attract leads, convert them into Opportunities and close those opportunities. Marketing Automation and Sales Automation are the two main streams that are adopted to optimize these processes.
NVC recommends the following steps to perform a Business Process Assessment.
If there are termites eating away at your business detect them and eliminate them before more damage is done! NVC has performed hundreds of business process assessments. Please contact us for more information.