Many startups, once they reach a certain size, face the challenge of establishing internal (financial) processes that can sustain strong growth over the long term, delegate responsibilities to employees without taking risks, and enable cost savings through efficiency. Many well-known ERP systems map these standard (financial) processes fully automatically within the company, but are often unaffordable for startups. This forces growth companies to map the individual process steps in different programs, or sometimes even manually. Not only the question of the necessary process steps or the right programs, but also the interfaces between the various programs and process participants often pose major challenges for young entrepreneurs.
The Pape & Co. team offers insights into the approach to setting up (financial) processes and which process outputs are relevant for preparing accounting and annual financial statements. The focus will be on the following topics:
- Procedure for setting up processes
- “Order-to-pay” process (digital)
- Outgoing invoice process
- receivables management
- Personnel processes and their interfaces to payroll accounting
