Recommending a StrategyIdeas for Today and Tomorrow

Goal and Objective Current Situation

Consequences How did we get here?

Available options Next steps Results

Agenda

Warren BuffetIn a letter to shareholders, 1989

“Time is the friend of the wonderful business,

the enemy of the mediocre."

Goal and Objective Efficiently process invoices and bill clients in a

timely manner. Ensure DDS insertions are up to date. Reduce late payments to vendors.

Current Situation Invoices are received without IWO numbers.

Current Situation Invoices are received without IWO numbers..

IWO numbers are not allocated on invoices.

Allocation of the Cost

Current Situation Invoices are received without IWO numbers. IWO numbers are not allocated on invoices. Frequently coming across missing invoices.

Finance

Finance

Account Manager

Account Manager

Consequences: Contracts are not entered.

How Did We Get Here? Lack of communication between all parties

involved in issuing invoices and creating IWO. Original assumptions that are no longer valid.

Lack of communication.

Available Options Create workflow charts accessible by all

parties so everyone is aware of what is needed to get bills paid.

May

June

$1,080,000

Available Options Create workflow charts More organization in the invoice folders.

Invoices are received without IWO numbers. Frequently coming across missing invoices. IWO numbers are not allocated on invoices.

Available Options Create workflow charts More organization Masterfile containing consistent IWOs.

Masterfile:

Available Options Create workflow charts More organization Masterfile

Next Steps: We should contact all account managers and send

them a work flow chart. Emphasize the importance of properly created

invoices. Undefined

September

• Organize shared drive.• Create temporary master file.

October

• Create work flow chart with account managers.• Emphasize the importance of IWO numbers and

properly created invoices.

December

• Continue to remind account managers to reference the work flow chart.

Next Steps:

Results Up to date Less stress Good relationship and reputation Organized More time

“Time is the friend of the wonderful business,

the enemy of the mediocre."

Warren BuffetIn a letter to shareholders, 1989

Thank you for your time.

Christine HuynhClient Finance Intern

Luke Marji Client Finance Intern