The auditing procedure might sound like a secondary objective for your firm but doesn’t overlook its intrinsic value. Done right, a business process audit service in India can highlight anomalies and inefficiencies which are costing your operation money and time, and determine that all internal functions are properly aligned with your key objectives and goals.
How can the process help your business?
Let’s take a quick look at some of the key elements of regular business process auditing:
- Reduces inconsistencies, anomalies, and errors, which can improve things like accurate data capture and cash flow liquidity.
- Encourages continuous improvement among individuals and teams through training program development, cultivating an ethos whereby people are always looking to improve internal processes.
- Ensures that every process, business function, and workflow is aligned with company goals, providing greater assurance to senior stakeholders.
- Increased productivity as an outcome of streamlined workflows and improved efficiencies.
Tips on how to audit business processes
Let’s take a look at some of the things to remember when doing a targeted audit of your business processes.
§ Create an auditing team – A business process audit service in India is responsible for evaluating procedures within primary areas of the business. At first, you’ll need a project lead which could be yourself, one or two IT people with knowledge of internal software and systems, and a stakeholder from each department who has a good grasp of individual functions and workflows.
§ Host an alignment meeting – With your auditing team assembled, now’s the time to prepare your team for the goals of the processing audit. Identify the procedure which is managed by persons rather than systems. Be crystal clear on the why and the what of the audit to be sure you get the results you want.
§ Devise an auditing methodology – Process auditing takes multiple forms, so you’ll need to decide on the correct approach depending on your objectives. Questionnaires and interviews with employees can help in ascertaining top-level issues, while direct observation is mandatory for gathering the evidence you need to improve and refine wavering processes.
§ Take it to function by function – Depending on the scope and size of your business, carrying out a full, cross-departmental may not be the right way. Instead, take a function-by-function audit approach, targeting individual procedure and training program development and workflows to garner comprehensive insights into what’s working and what isn’t.
- Implement and measure – With your refined processes, make sure they are properly implemented, and all personnel is aware of the new systems. By ensuring your team adheres to new working techniques, you stand to get an optimum return from the new systems. Employee training program development is required to bring everyone up to speed.