FINOPIA expertise
Go even further with all our financial management services
Sales performance analysis
Discover
Financial performance analysis
Discover
Mapping financial processes
Discover
Budgetary approach
Discover
Cost accounting
Discover
Financial Management
Mapping financial processes
Do you need advice?
Call us at
Would you like to write to us?
Contact page
Financial process mapping is an essential tool for companies seeking to improve efficiency and profitability. By identifying the key stages in financial processes, companies can pinpoint areas of risk and bottlenecks, and implement measures to improve the quality and speed of their financial operations.
Thanks to financial process mapping, companies have a better understanding of the interactions between the players involved in a given activity, enabling them to identify bottlenecks and implement corrective measures, as well as opportunities for improvement, particularly in terms of communication and collaboration.
Financial process mapping also enables companies to meet compliance and fraud risk reduction requirements by implementing appropriate controls. Finally, financial process mapping is a powerful communication tool, enabling financial processes to be clearly and concisely communicated to employees, investors and stakeholders, thereby reinforcing transparency and confidence in the company.
Here are some examples of financial processes that can be mapped:
Faites appel à nos experts
- The purchasing process may include the following stages: purchase requisition, requisition approval, supplier search, negotiation of purchase conditions, order placement, receipt of goods and payment.
- The invoicing process can include the following steps: preparing the invoice, sending the invoice to the customer, tracking payments and recording payments.
- Accounts payable process may include the following steps: invoice receipt, invoice verification, invoice approval, invoice payment and payment recording.
- The accounts receivable process can include the following steps: recording sales orders, preparing invoices, sending invoices to customers, monitoring payments, recording payments and managing accounts receivable.
By mapping these processes, companies can better understand the interactions between different financial processes, identify bottlenecks and inefficiencies, and implement measures to improve processes.
Financial process mapping can also help companies meet compliance requirements and reduce the risk of fraud. By better understanding financial processes, companies can implement appropriate controls to reduce the risk of error and fraud.
Finally, financial process mapping can be an important communication tool for companies. It can help communicate financial processes clearly and concisely to employees, investors and stakeholders, reinforcing transparency and confidence in the company.
