Information Silos in your Organization?

Organizational silos are a problem for large and small businesses alike. When employees do not communicate outside of their silo – or information is limited, everyone in the organization suffers. Organizational silos can be like fortresses within a company and eventually cause serious problems that might not be noticed until the damage is done. Fiefdoms are resistant to change, horde information and make it difficult for others to get access to information they need, and throw up barriers to change and cooperation.

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Vendor Management

Proper Vendor Management is crucial to optimizing your businesses success. There is too much focus on the selection process and building the contract but little about how to manage the relationship that follows, from re-evaluating the selection process to figuring out the value that the vendors themselves bring. We reward the “signing” of a contract, but fail to invest in managing, tracking, and getting the most out of the agreements we have.

There are four key areas that need to be addressed in a comprehensive vendor management program:

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Are you ready for the New Lease Accounting Standard?

The Financial Accounting Standards Board (FASB) approved the new lease accounting standard in February 2016 and reporting requirements will come into effect in 2018 and 2019 depending on your type of organization with retrospective application to previously issued annual and interim reports for 2017 and 2018 depending on Company type.

Who this affects:

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Audit Preparation

Annual Audit / Review

The end of the year is fast approaching and you and your team are implementing the processes and procedures for closing your accounting books and setting up a time with your outside auditors for a review or audit. Your team dreads the “request” list that will arrive – lists of contracts, leases, employment agreements, important terms and conditions, etc. that are often distributed across multiple offices, storage rooms, and computers. Having to read through all of the documents again to find specific terms and conditions that are important for the audit. Photocopying, scanning, emailing, sending via courier to the audit team, often multiple times.

What if there was a better way…

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