Tayler Morgan also provide a professional business improvement service from its wide range of skills and expertise. Clients can benefit from tangible results very quickly as their business starts to see both profit and cash flow improvements.
The services of Tayler Morgan are designed to transform everyday business activities into procedural routines which enable the business to operate in a controlled way towards increases in profit and growth. David Hastings ensures that a personal service is delivered in line with client requirements.
Operational Review
At Tayler Morgan we provide a wide range of accounting, financial advisory and consulting services to help you develop and grow your company. We enjoy working with you and your employees to develop internal controls and procedures that enhance your processes. Our goal is to offer you relevant recommendations and strategies to facilitate greater efficiency, cost control and effective management.
Are inefficient processes and organizational misalignment anchors that drag down your productivity and profits?
When was the last time you asked yourself or an employee, “Why did you complete this task this way?” The answer is most likely, “that is how I was trained.” Often, businesses do not review their processes regularly, therefore they are not updated to reflect changes in the economy, industry, software or company staffing.
• How many reports do you receive that you do not actually read?
• Do you pay overtime to meet a deadline only to find the same employee playing a video game due to lack of work a week later?
• Does your company face hurdles with improving efficiency even though you have the expertise needed to focus on your products and services?
Our approach covers you from beginning to end and goes beyond merely identifying ways to streamline your operation. We work with you to assess your organization’s current state, identify key performance indicators, develop implementation plans, assign accountability, communicate changes and expectations to those employees affected. Most importantly, we stay involved after implementation to assist you in evaluating and measuring performance.
Our process improvement services help you gain important perspective on your company’s challenges and opportunities. Standardised processes and procedures naturally increase efficiency, leading to more available resources and capacity.
In most businesses, each department works independently. This usually means the business suffers from duplicate efforts, poor communication and low employee morale. We engage employees at all levels to develop a customized process improvement approach for you that delivers the right solution. We challenge our clients to think about their organization and the environment where they compete in new ways.
Operations-related challenges often faced by business owners and managers:
• Limited resources for increasing profitability by identifying and eliminating waste
• Obtaining meaningful, timely and accurate financial statements and management information
• Maintaining vital flow of financial information during employee turnover or leaves of absence
• Lack of time or resources to research changes in your industry, software, competition and government regulations
Operational Review services critical to the success of an organization:
• Develop standards, document processes and create a customized training program to communicate and implement the new standards
• Cash flow management
• Assess, design and implement up-to-date operation processes
• Identify methods for improving organizational structure, operating efficiency and staffing levels
• Review expenses, credit relationships and transactions that affect your cash flow
Internal Review Control
At Tayler Morgan we also offer a wide range of professional services to help you identify and address the weaknesses in your operations.
In today’s corporate world, more and more business owners are becoming victims of fraudulent activities resulting in significant losses. We provide practical insights and call your attention to the many traps you should avoid.
Occupational fraud and abuse is a widespread problem that affects every entity, regardless of size, location or industry.
In today’s business climate, all owners, irectors and managers need to have an in-depth knowledge of how the company runs. A hands-off approach will no longer work. Too much is at stake. It is sometimes hard to detect all types of fraud, but the formula for committing fraud is simple.
Motive + Opportunity = Fraud
We usually hear owners say “it will not happen to me” when they should be asking “how can I prevent this from happening to me?”
The bottom line is where there is a will, there is a way!
• Small organizations are disproportionately victimised by occupational fraud, because they do not have separation of duties due to a smaller staff size.
• Anti-fraud controls help reduce the cost and duration of occupational fraud schemes.
Common myths about fraud.
Many business owners and managers assume that as long as they sign the checks then they are exempt from any chance of fraud, but the majority of fraud schemes do not involve the business checking account. It pays to prevent fraud in every area of your business. And the possibility of fraud is not limited to the bookkeeper. It may be committed by employees in the accounting department, sales department or even upper management, including directors and business partners.
Examples of fraud that do not require access to your checking account:
• Payroll fraud
• Expense report fraud
• Purchasing and billing schemes
• Revenue recognition when bonuses are tied to revenue or profits
• Inventory and equipment theft
• Theft of proprietary information
• Abuse of company credit card
Internal Control Review services available to give you peace of mind:
• Review of internal controls and make recommendations for improvement
• Examine financial statements
• Review internal staff’s accounting work papers and work programs
• Analyse complex transaction flows
• Assist in developing fraud prevention policies
• Develop a plan to easily monitor policies and procedures to ensure compliance