Oleksiy Nesterenko
Oleksiy Nesterenko Startup Finance is finance and strategy professional aiding entrepreneurs in converting their concept ideas into viable and prosperous businesses that challenge status quo, redefine consumer experiences.
info@oleksiy-nesterenko.com
Optimization through Business Process Management by Oleksiy Nesterenko
In today's hypercompetitive global market, it has become vital for a company to automate and organize its business processes in such a way that it stands out from other related business organizations.
Business processes are just an enterprise's overall business strategies and usually involve a series of interrelated activities and steps, which in turn are designed to carry out a particular project or sometimes to resolve a particular issue. A business could be successful and achieve goals only if business processes are properly defined and undertaken.
Task delegation is a necessary part of the business environment. Even if the people assigned to these tasks are fully capable and reliable, there is no guarantee that a given employee is meeting his or her full potential without proper management. Business Process Management is the practice of running business processes though a five-step cycle including design, modeling, execution, monitoring and optimization.
The design stage takes the process flow, standard operating procedures (SOP's), service level agreements, and other factors and identifies them in order to serve as the basis for a more efficient and value-adding process. Modeling the Process Management takes the new theoretical design and applies different sets of variables, which represent the availability, cost, and value of all of the resources involved in running a business. Each different set of variables brings about a comprehensive projection of how things add up. Execution involves the automation of processes through applications, often with the help of human intervention. Companies have developed software to minimize the need for human intervention, making use of the full business plan developed from the design stage.
Monitoring is the tracking of individual processes that identifies problematic areas for evaluation and correction. Monitoring uses a set of techniques collectively referred to as process mining. Process mining makes use of event logs. Finally, optimization is a pre-emptive stage that takes information from modeling and monitoring to identify potential and actual bottlenecks, as well as opportunities for savings or other improvements. The Business Process Management cycle repeats itself indefinitely in order to achieve true optimization.
Businesses that want help with this operation can have the professional services of Oleksiy Nesterenko for the best approach:
Oleksiy Nesterenko has optimized business processes at mid-size company
Oleksiy Nesterenko’s role:
• Investigated systems and processes employed by the finance department, which led to reorganization of the finance department into two teams (accounting and finance) with distinct responsibilities
• From management accounts which were in disarray, constructed a consolidated historical financial statements, which were used to build the company’s operating model
• Collaborated with teams across the company to establish company-wide key performance indicator (KPI) metrics as well as for individual departments, Based on the company’s unique characteristics, developed and implemented short/mid/long-term financial forecasting procedures
• Performed thorough analysis of the company’s business to establish key seasonality fluctuations and the effect they had the financials and inventory requirements. Accounting for seasonal demand swings, developed inventory coefficients for specific products
• Instituted a framework (and financial model template) for evaluating prospective investment projects based on ROI, NPV, IRR analyses
OUTCOME
The client was extremely pleased with the implementation of the new processes and procedures. The new initiatives have made the company more organized and agile, and significantly lowered working capital requirement through improvement of inventory management.
You can be sure with the best ever approaches that Oleksiy Nesterenko Startup Finance provides. Contact today info@oleksiy-nesterenko.com!!
Know more about Mr. Oleksiy and his work please http://www.oleksiy-nesterenko.org/
Business Process Management by Oleksiy Nesterenko
By Oleksiy Nesterenko
Business Process Management by Oleksiy Nesterenko
Monitoring is the tracking of individual processes that identifies problematic areas for evaluation and correction. Monitoring uses a set of techniques collectively referred to as process mining.
