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Initial system review


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Objectives:
Evaluate to what extent our current systems would cope with significant growth
Make recommendations on more suitable systems and processes where appropriate

Our plan
0
Stage
Task
Detail
Required from you
Proposed allocation
Notes
Light touch review
4
Financial Processes and Systems
Invoicing
Cash collection
Procurement
Payment process
Expenses
Payroll
Month end
Equity management
Audit readiness
Budgeting
Reforecasting
Treasury management
4 hrs with FC and any other relevant individuals to discuss and observe processes.
8 hrs
Open
Review Insurance-Specific Financial Operations
Claims management
Unearned Premium
Actuarial interaction
2 hrs with relevant individuals to discuss and observe process
2 hrs
Open
Netsuite set up
Discuss with RORA NetSuite SME for best practice
Netsuite Access
2 hrs
Open
Scale readiness
Assess process in the context of 2x, 5x, and 20x growth
1 hour with FC or relevant individuals
4 hrs
Open
16 hrs
Sum
Recommendations
2
Identify alternative best in class systems
Identify alternative systems
Evaluate system integrations with existing stack
Contact vendors if required to assess viability
4 hrs
Open
Collate results and recommendations
Write up findings
Discuss on call with team
Discuss next steps
4 hrs
Open
8 hrs
Sum
1 day
Sum

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NB:
We contract for a number of days booked rather than for fixed outputs. We think this model gives more flexibility and a better integration with your team. However it does mean that we’re not able to guarantee fixed outputs - just an agreement on priorities and where we’ll spend our time. Our team work for you on a secondment basis for the days contracted.

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