Deloitte Case Study Solution
- Deloitte offers multiple services in the field of Audit, taxation, risk, financial advisory, consultancy and legal matters. It has a vast array of services related to accounting and finance.It has been the top performing company in 2015 with revenues exceeding 13067 million. The company has a large hierarchy with maximum concentration IT, HR and Accounting department.The three main practices of Delliotte are
- Human resource enrichment- to ensure it has the pool of right talent which it could utilize in any turbulent situation. While also to maintain and retain the existing employees, because employees and their skills are the core important elements of the company’s success.
- Innovation-the Company practices innovation, which is why it continually look for methods and techniques that could reduce the discrepancy on one system and a technique which reduces the cost in future. The company believes in being a disruption in the market and thus adopts change easily while also sustain it for a longer time.
- Strategy and Operations- the company aims to help its employees with complex problems and thus look and searches for a better solution in the field if accounting and finance. The company believe that sine time is passing and there is need to be more efficient in offering the service to the client, the company has to take good measures to facilitate the operations thus easing the path of solving complex problem. In doing so, the company adopts on regular internal new softwares and systems that could make the functions efficient and less difficult.In addition, with passing time and increasing number of operations and functions, the company seeks to integrate the departments so to avoid any kind of discrepancy and for that its employees multiple software’s to do the job.
- The company offers multiple services in the field of accounting and Audit. The major operations lies in the Audit and financial advisory, which requires great analysis and strong book keeping in order to offer a reliable and exact audit or financial solution. The company though offers other services too like taxation and legal advisers, yet it is known as the top accounting firm.
In order to sustain in the turbulent market, the company seeks to adopt and innovate it self. The aim works in two ways, first it want to make problems easier for its employees by eliminating the hurdle and complexities of the problem, while on other hand, urges to cater the clients by offering an exact, correct analysis and financial solution in efferent way with strong understanding.so in order to cater the mission and goal of the company, Delliotte employed fresh books software, which landed the market in 2016.The system offers a un ifiedint grated book-keeping system which keeps a real time, time tracking which enables the company to manage its time allocated to the project. The system notifies the management, the executive working o the system and the supervisor about the deadlines .This enables the company to keep the track of work and also helps in keeping the important client in loop, without the dependence on assistant to notify the management.in addition the software offers easy invoicing, which helps it to manage the clients on the very same platform because it incorporates the payment method which makes the cash management easier while it automatically posts the receivable on the board so at the end, It becomes easy for accounts department to verify and manage the accounts without any discrepancy which might take at least 25 days to resolve. It also helps the company to close the book at year end with the strong support of facts and data integrated in a ways, that it helps the accounts, finance and even the top management to see the results of the parameters which are important to them. Finally the most important feature of automated follow up., release the burden over the billing, accounts and finance department to keep the follow-up from the clients. In doing so, an automated timer is being set, which automatically sent the email to the client when the days are over, In fact, the systems end multiple emails to the clients to alert and reminding them about the payments and makes it obligation to the client to write a response in order to stop those follow-up email. The feature is crucial, since the company is very big with around millions of clients, I became hectic and in fact ineffective for employee and the company to keep a track of the payments which Fresh book resolves.\
Delliotte and Touche Harvard Case Solution & Analysis
The software was selected, when company faced multiple discrepancy ion closing the book and year end,since the company aims to b most efficient the closing took longer time as compared to the market. At that point and time, the IT director, Accounts director and billing head, joined the heads to reach to the solution and thus adopted the particular software. The budget allocated to the software was 1 Million in initial and the time to employ and implement the software was set to be 6 months. The objective was to implement the software in over all organization but with most concentration in Accounts and Billing. The project aims to cater the accounting problem, ledgers settings, and receivable and client management.The management hope to have a smooth function and operations which mitigates the discrepancyto minimal, making it more effective and efficient which would in turn help it to develop future e strategies to capture the markets...................
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