Many startups, once they reach a certain size, face the challenge of establishing internal (financial) processes that can accommodate continued strong growth in the long term, delegate responsibilities to employees without taking risks, and enable cost savings through efficiency.
Many well-known ERP systems fully automate these standard (financial) processes within a company, but are often unaffordable for startups. As a result, growing companies are forced to map the individual process steps in different programs or even manually in some cases.
Young entrepreneurs often face major challenges not only in determining the necessary process steps or the right programs, but also in understanding the interfaces between the various programs or process participants.
The Pape & Co. team offers insights into the approach to setting up (financial) processes and which process outputs are relevant for preparing accounting and annual financial statements. The focus will be on the following topics:
- Overview of the Finance Process
- Process, relationships and typical distribution of tasks between startup and tax advisor
- Typical problems when setting up processes in the startup sector
- Tool for financial processes
- Detailed discussion of the process Incoming Invoices -> Payments -> Posting
