The following outlines the steps ParenteBeard will take while conducting the efficiency study.
1) Project Overview
- Perform a review of the department/function to identify operational efficiencies to potentially be implemented
- Review transactional processes and procedures to identify areas for “quick win” process improvements
- Perform a high level identification of the ability to leverage technology more effectively within standard processes (number of manual touch points)
- Recommend organizational, process and technology enhancements to optimize the various functions
2) Areas of Focus
- Financial Processes
- Financial Reporting
- Budgeting Process
- Procure to Pay Process:
i) Accounts Payable
ii) Procurement Services
- Informational Technology
3) Deliverables
- Phase I
i) Initial plan of execution
ii) Identification of initial areas of focus/opportunity
iii) Inventory of processes and high level detail on existing process flows
iv) Opportunity log for process improvements
v) Existing organizational structure
- Phase II
i) Strategic alternatives (people, process and technology)
ii) Quick win process improvements
iii) Initial gap analysis
- Phase III
i) Strategic roadmap
ii) Executive level evaluation presentation
Note: The Human Resources and Enrollment Management areas are scheduled to be studied next year.
