Standard Operating Procedures
With the economic development and globalization, companies are growing at exceptional rates, especially in developing economies. This development also offers a number of challenges to the management of company relating to a multi-location presence, diverse organization structure, lack of comprehensive authority level matrix, stand- alone accounting and other systems all of which result in diverse practices and processes at different units or locations. Standardization of operations across offices, manufacturing units, and service centers is important both from an internal efficiency as well as regulatory and business perspectives.
Standard Operating Procedures (SOPs) mainly highlights systemizing the processes of an organization and documenting them in such a way which makes easy for the reader to understand and helpful for the work at hand.
Developing a complete set of SOPs for a business can be a time-consuming process. A little time spends today to organize the effort today will help you to reduce frustration with the process and make the effort more efficient and effective. A SOP for the same task will differ from process to process. There are also a number of different approaches to developing SOPs and can also be explained visually through flowchart or annotated illustrations if needed, depending on the business, a complexity of the SOP and the number of people involved in the development.
Well-written standard operating procedures(SOPs) is a step by step instructions compiled by an organization which provides direction to their workers, helps in improve communication, reduce training time for the management and improve work consistency in the organization. Standard operating procedures used in combination with planned training and regular performance feedback lead to an effective and motivated workforce. Unit managers and advisers benefit from consistent work performance and predictable results. Workers benefit from increased confidence and a clear sense of achievement.
We perform an assessment of a client’s internal controls relating to key processes and risk associated with the processes. We can help companies develop risk-focused standard operating procedures. Our solutions help enhance companies’ process and control efficiency, leverage their investment in internal controls, and address their financial reporting compliance needs.
Our services include:
- SOP development
- SOP validation
- designing authority level matrix