Presentation on theme: "Business Health-Check : SME"— Presentation transcript:
1 Business Health-Check : SME Today’s business has many similarities of a Human BodyAssembly of various processes – Each Business Process is like an important body partFor every trouble, there is a specialist
2 Business Health-Check : SME Human Body SymptomsBusiness Body SymptomsFeverLosing OrdersRestlessnessOver Stock , Full warehousesPain – HeadacheCreditors - GrowingUnbalanced – PositionsCredits / Liquidity crisisEmergency – call /HospitalizationBankruptcy / Sell – Off / Close downWho can help? Who is the doctor for a business?
3 Business Health-Check : SME Answer is : AuditorsAudits as known to us are;Statutory and ManagementExternal or InternalMIS – Where do I stand – is a Health-Check reportYearly / Qtrly or Monthly Financial Statements indicating Profits, Expenditure Quantum and most important the status of Cash and BankStatutory Compliance review – Taxes due v/s paid date, amount
4 Business Health-Check : SME What is a standard checklist to assess a normal business?Overall working of a unitStock auditDebtors collectionPurchase – order, receive, consume, payProvisions – tax / interest / charges / commissionMIS / Account closing- Half-yearly /Qtrly reviewFund utilization – CC / Current / FD / BGCash transactionsBranches’ / other units’ expense checking
5 Business Health-Check : SME System Audit – Preventing Identity Theft \ HackingDo not respond to unsolicited (spam) .Do not click on links contained within an unsolicited .Be cautious of claiming to contain pictures in attached files, as the files may contain viruses. Only open attachments from known senders. Virus scan all attachments.Avoid filling out forms contained in messages that ask for personal information.Always compare the link in the to the link you are actually directed to and determine if they match and will lead you to a legitimate site.There are legitimate mystery/secret shopper programs available. Research the legitimacy on companies hiring mystery shoppers. Legitimate companies will not charge an application fee and will accept applications online.No legitimate mystery/secret shopper program will send payment in advance and ask the employee to send a portion of it back
6 Business Health-Check : SME Balancing Act orUndecided – where to goWhat should be the priority first?Have a complete checkup done by internal auditors – departmentally or by an external firmIdentify the activities which can be implemented easily – just do them through your staff, departmentallyThere will be a few activities for which your staff will require training – again we are available ANDFor a few, unmanageable actions ?
7 Business Health-Check : SME For the few, unmanageable actions –Take whatever help required from specialistMany times business go through such phase that an expert’s presence, participation for a “Limited Period” (unless it’s like Diabetes or BP), is necessary
8 Business Health-Check : SME So. ….When is your business getting checked ?
Your consent to our cookies if you continue to use this website.