Reconciling your company bank accounts every month is essential, just like reconciling your personal bank account. This method matches your credit card transactions with your bookkeeping records. It is a crucial step to ensure that credit card statements are accurate, and if there are any discrepancies, it helps the business owner take necessary action.
Reconciling your credit card statement every month helps to guarantee that:
We resolve any discrepancies between your credit card statement and bank account, such as a bank deposit with the wrong amount.
You will promptly address fraudulent activities or theft from your card and account. For example, if you see a purchase list on your disapproved statement, you can inform your bank to investigate the case.
What is the Process of Credit Card Reconciliation?
When the credit card statements are received, accountants match every transaction on the statement with the company’s internal system. It includes both inbound credit card payments from customers and outbound transactions to suppliers and service providers.
If there are any discrepancies, take the proper steps to investigate the case. After performing all the research and gathering information, store this data for audit purposes.
How Credit Card Reconciliation Software Works
Credit card reconciliation software automates all the required steps in the process. It imports data from ERP or general ledger systems and credit card files or statements. Then, the software compares both files and looks for any discrepancies the accounting team needs to investigate.
It makes credit card reconciliation easier as you don’t have to match each transaction manually, and this whole process also speeds up.
How to do Credit Card Reconciliation?
Step 1: Get all the transactions of a credit card
The first step is to obtain all your company’s various credit card account transactions. You can do this by importing credit card transactions using software or manually uploading bank statements into your accounting software. We highly recommend importing these transactions using software instead of manually doing it for more accurate results and to save you time.
Step 2: Assign expenses to a specific employee or team
First, sort out all of your company’s costs and then decide which employee or group will be responsible for various aspects of your company.
Step 3: Gather and arrange data for various expenses
This step requires you to collect important documents, reports, receipts, and credit card statements. It can be a difficult and time-consuming process. After that, you must arrange data per your company’s requirements.
Step 4: Compare the transaction amounts on expense receipts with the outgoing quantity in the corresponding account
Now is the time to validate your expenses. Thoroughly check all your company’s expenditures and ensure they comply with your spending policies to prevent fraudulent activities or mistakes that could lead to potential legal woes.
Step 5: Discuss any policy violations with the offending party
If you notice any policy violations in your company, it is crucial to address them immediately. Discuss them with the offending party to know whether it was a mistake or some fraud activity. It rarely happens, but it is essential to highlight the issue to prevent the company from engaging in such activities in the future. A simple conversation will help to clear up any misunderstanding and to help the future reconciliation processes.
Step 6: Process credit card transactions in the general ledger
Now that you have sorted out all the expenses and addressed any potential issues, it is time to add your transactions to your company’s public ledger.
Validating and addressing issues before adding expenses to your books is essential to ensuring that the general ledger remains a solid and accurate foundation for your company’s financial system.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
The swift evolution of information technology, coupled with its widespread availability, has led to a significant increase in the reliance of businesses on computerized programs and systems. This trend spans various industries and operational levels, fundamentally changing how organizations function. Among the many sectors impacted, banking stands out as one of the most critical areas undergoing transformation.
In recent years, banks have adopted sophisticated computerized accounting information systems that have revolutionized their financial and administrative operations. These systems allow for more accurate transaction tracking, streamlined data processing, and improved reporting capabilities. As a result, banks can enhance their overall financial performance, reduce operational costs, and increase efficiency while providing a higher level of service to their customers.
Moreover, these advanced systems play a crucial role in the decision-making processes within the banking sector. They provide a wealth of statistical methods and testing tools that aid in analyzing business performance and making informed decisions. By leveraging data analysis and predictive modeling, banks can assess risks, identify trends, and develop strategies that align with their business objectives. Consequently, the integration of technology in banking not only supports efficient operations but also empowers financial institutions to adapt to the ever-changing market landscape.
Research on the design and analysis of accounting systems highlights important risks that can affect computerized systems. By addressing these challenges proactively, organizations can enhance their security and efficiency. Key areas to focus on include ensuring the accuracy of submitted data, preventing accidental deletions, discouraging employee password sharing, and safeguarding against potential virus infections. By implementing robust measures in these areas, companies can create a more secure and reliable accounting environment.
However, this advancement in accounting systems in the business is coupled with multiple significant risks relating to the security and safety of computerized accounting information systems. This is mainly because a similar advancement does not attend to this advancement in the capabilities and efficiency of human resources by users of the technology, and it is also not accepted.
Software errors and equipment malfunctions, such as hardware failures, errors or software malfunctions, operating system failures, electrical interference and oscillations, and undiscovered data transfer faults, threaten the firm.
Unintentional activities, such as errors or deletions stemming from ignorance or accidents, can pose significant hazards to businesses. The most common causes of these issues include human error, failure to follow established procedures, and inadequate supervision or training of workers. Users often lose or misplace data and may accidentally delete or update files, data, and applications. Additionally, computer operators and users might enter incorrect or unreliable data, use the wrong software version, select the incorrect data file, or save files in inappropriate locations. Analysts and system programmers may make mistakes in the system’s logic, create systems that do not meet the company’s needs, or develop systems that are unable to fulfill those needs.
To maintain credibility and relevance in decision-making, it is essential to manage both internal and external risks associated with accounting information systems. The ease with which these systems can be accessed may lead to distortion in accounting data, which negatively impacts the quality of decisions made. The inputs to accounting information systems are foundational for designing any program—be it administrative, financial, or control-related—highlighting the importance of data accuracy and the prevention of unauthorized changes. This, in turn, reflects the credibility of accounting data and affects the overall effectiveness of internal controls.
Risks associated with electronic work environment applications include inadequate input controls, processing, and direction, as well as insufficient procedures to secure software related to the security of electronic work environment information.
Unauthorized access, multiple people using the same passwords, and messing with data entry through the server or computer networks are all things to watch out for when it comes to the IT systems used for accounting data processing.
The increased use of technological applications requires the development of internal control functions at the technical and technical level commensurate with the degree of technology used in the company, which you can accomplish through the ongoing development and qualification of employees in modern technology.
Accounting is a control that aims to achieve control over financial and accounting regulations and instructions to preserve the integrity of a particular establishment’s assets and prevent accounting errors in the financial statements. It means that accounting control achieves widespread application and broad control. This control is designed to ensure that management’s orders are carried out legally, that financial transactions are recorded historically and by accounting principles, that the establishment’s assets are appropriately used, and that the actual assets are by what is recorded.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Exchanging emails has become a significant part of every step we take, whether applying for a job or sending a business proposal. Many of us are living under the ray of thought that email conversations are safe and secure, but this is not true. Emails are critical in marketing, as email marketing is the easiest and most effective way to reach potential customers. Being careful can save you from significant disasters and possible loss of your confidential personal, professional, and corporate information.
The data you share in an email is as unsafe as an unlocked treasure vault, whether it is sent as an attachment or written in a subject line. Ensure that you do not share any of your data through emails. The below-listed tactics will assist you in avoiding such blunders:
Do not open emails received from an unknown source
Multiple emails land in your inbox daily. Some are relevant replies to your sent emails, but most are from an unknown source. You must be careful when opening such emails. Cybercriminals are getting active daily, and they consider email scamming one of the most sophisticated ways to rob sensitive data and information. Next time you receive an email from an unidentified source, try your best not to open such emails.
Over-sharing
It does not sound weird, but excessive sharing through emails is not a sensible step to take. Even the slightest information about you or your life can be a weapon against you. Most of us are okay with sharing our basic information on different social platforms without even realizing that these pieces of information are a lump of spiced meat for hackers to predict our passwords and passcodes.
Always be cautious
The suspecting set emails require you to click on the link to verify your data, particularly when you have not downloaded an application or software that would ask you for email verification. Please do not open the link, as it can cause you a massive unseen virtual loss. If you find a company’s or person’s name attached to the mail, then dial a call to cross-check the matter and figure out the reason for sending the email.
Use encryption software
Technology is a great help in fighting these unseen days today, increasing virtual theft. Email encryption software is no longer a choice; it has gradually become necessary to secure the data and information shared in emails. The content attached or written in a sent email can be easily accessed by the third masked person between the sender and the receiver. When trying to avoid such situations, this software is crucial. According to a technical fact, such software protects the confidentiality shared in your emails.
Minimize sharing attachments in the email
Emailing is a multi-purpose task. We often share attachments like resumes, business proposals, applications, etc. Well, it doesn’t seem, but it is not safe to do so. There is a valid reason behind why I am telling you to do so. The data in the attached file cannot be scanned by encryption or antivirus software, but they can be seamlessly accessed by hackers roaming around in the cyber world.
Here is a list of information you must not share via email at any cost:
Account details (number, etc.)
Credit card or debit card number
Passport number or image
Driving license numbers
Social Security numbers
National-Identity numbers
Passwords or authentication credentials
Legal and confidential documents
Business sensitive information
Conclusion
Getting through the above article will help you avoid making any blunders while opening and sending an email. To ensure more email security, install antivirus applications and software, and avoid clicking on unique/URLs without even a second thought. Analyze the mail carefully. If you find anything fishy, immediately send your mail to the trash without clicking any link attached to the mail. The more alert and careful you are, the more protected your data will be.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Nowadays, people seek time-saving and easy-to-use accounting software with integration APIs, time and expense, and workflow capability. QuickBooks is one of the market’s most famous, easy-to-use, and entry-level accounting software. It is the most popular small business accounting software option today, with more than 3 million subscribers. It can handle a good chunk of your daily accounting tasks but has some limitations, which can pose problems for you.
If you want to find software other than QuickBooks, no matter the reason, we have got you covered in this article. This article has made a list of software that rivals QuickBooks in terms of features, interface, and value for money. We have provided all the reasons why you should choose each software, including QuickBooks. In this way, you will have all the information required for comparing the software. Hopefully, after reading this article, you will find the best software for your business.
In today’s digital age, accounting processes are getting increasingly more complex each day. Moreover, the customers’ expectations are also getting higher from their accountants.
Top alternatives to QuickBooks as accounting software and their key benefits:
FreshBooks
It is one of the best and award-winning software in the accounting sector. According to the experts, FreshBooks can turn complex financial management into a smooth and straightforward experience. They also offer a free trial, so if you want to check the features yourself, you can try them out. You can use this time to check if this software matches your business needs.
This software allows the business owner to manage invoices and track and collect payments from a single platform. It works and collects payments smoothly from payment gateways like PayPal, Google Checkout, major credit cards, and many business applications. It gives you complete financial control without maintaining a complex manual system.
It also makes paying bills easier as it becomes easier to track invoices and pay any due amount. Moreover, you can set automated overdue payment notices to remind the clients of their scheduled payments. It is best for freelancers and sole proprietors as they can set it up quickly.
Wave Accounting
If you are on a tight budget but still want to use software, Wave Accounting is the best choice. It is free cloud-based accounting software. It is best suited for freelancers, sole proprietors, and small businesses that need all the accounting software features like double-entry accounting, purchases, banking, and decent reporting but don’t have the budget to pay for software. Wave is best for businesses that offer services rather than products, as it does not provide management capability and inventory tracking.
NetSuite ERP
It covers many business processes, such as vendor management and purchasing, fixed asset management, and warehouse management. It helps to streamline different business operations from a single platform. It is enterprise resource planning software that helps to grow mid-sized companies and large enterprises.
Sage 50Cloud Accounting
It is a hybrid application that offers the reliability of desktop applications with remote access options. It is best suited for small businesses and the more tech-savvy.
This software has many good features, including good customer management, sales tracking, a sound inventory management module, and purchase orders.
It offers two payroll options: Essential payroll for up to 15 employees and Full-Service payroll, which suits large businesses.
One of the best benefits it offers for small businesses is its scalability. It has three plans available. Sage 50cloud Pro accounting is a single system user that runs $340 per year. Sage 50cloud Premium accounting supports up to five users and ten companies and costs $510 per year. Sage 50cloud Quantum accounting supports up to 40 system users and costs $842 per year. It also includes vendor payment and bank feeds. They also offer customized reports in a variety of categories.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
There are various methods to delete or remove your unapplied cash payments, income, and expenses in QuickBooks. You must go to the sales menu, and then you must select the customers. After that, you must choose the name of the customer you want to remove. It is present in the transaction on the list tab. Then, you can go to the transaction list tab and click the payment. Also, you must go further to the bottom, and there is a delete option. Two options are yes and no, and obviously, you must delete that cash payment by pressing yes to confirm it. Cash associated with unapplied amount is that income from the customers, or you can say that the customers paid that. So it is that payment received from the customer, which is still not applied to any of the sales but is recorded in the account. You can also say that it is the situation in which you took the money from the customer, but still, it declares the sales form.
Apply for Bill Payment
Sometimes, an incorrect amount is added to your account, and now you must remove that payment before it mentions your taxation or any other matter. So, there are several methods you can remove it. It is equal to cash payment income, known as the expense side on the other side. So, first, you must take note of the vendor and mention the amount entered in your bill payment. There is an option called to create an icon, and then the second option is to pay bills. These two options are present there; if you see that your accounts match the total payments that are present in the list, then there is an option known as checkboxes, and you must check that after that procedure is done. You must press your choice, which is called save. Suppose there is no matching bill for your payments. In that case, there is another option for you. That is, you can create an icon, and then another option calls for bills to fill out the form. There are certain vendors, amounts, and dates that have them. So, fill them in the state as the bill payment.
Invoice Report
You can see an unapplied cash payment income if you run a profit and loss report using the cash method. QuickBooks itself creates unapplied cash payment income for text reporting correctly. And sometimes, unapplied cash payment income appears on your report. There are several reasons for that. For example, if a customer paired you several times, you could say that a customer prepared you and recorded the payment without filling out the sales form. Then, it may appear as unapplied cash payment income on your profit and loss. Also, it may occur if you enter a customer’s payment without matching it with the sales form. There are a lot of methods through which you can solve this unapplied cash payment income problem on your profit and loss report. Running the open invoices report is perfect for resolving unapplied cash payment income on your profit and loss report.
Several steps are involved in running the open invoices report. First, you must go to the words, and there is a field known as an acceptable report by name, where you must enter open invoices. Then, you must set up the account. There is a box that is mentioned or named as the run report. You must select the run report option, and there is a column called the transaction type column. You must locate a transaction that mentions a payment there. If a transaction or payment matches an open invoice, open a satisfactory report by name field and enter open invoices. Still, you can set up the account if you do not see an available matching invoice. After that, you can select the run report option.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Technological information practices are evolving in the public sector and making their operations more efficient. With new systems and skills embedded in these modernized systems, the public sector organizations’ operations have become more outcome-oriented and performance-driven.
Based on extensive innovative models for IT infrastructure management, government sectors are now implementing more technology advancements in their ranks.
In hindsight, ITaaS, or IT as a service, is a commodity-based method of delivering IT services to consumers and aligning these services with cloud computing. In other words, cloud platforms provide public sector organizations with the benefits of the on-demand pay-as-you-go model, which follows service-level agreements.
Putting things into perspective, implementing cloud platforms feels like buying service level agreements (SLAs), not a person. Considering that SLAs are essential for the model, let’s look at them in detail. SLAs consist of agreements between the customers and the service providers regarding the scope, quality, and responsibilities of the providers.
SLAs also include other factors such as the definition of terms, termination of terms, etc. However, the most important metric is response time, which measures the mean time to respond and resolve. For many cloud service providers, meeting SLAs means customers can call 24/7 to learn what is happening around them.
The public sector technicians can also manage the servers and ensure that everything is up and running according to the SLA standards.
Different implementation factors are required to transform the public sector’s infrastructure to ITaaS. One significant factor is cloud adoption, which requires extensive support operations after the transition. Moreover, you can save efficiently on infrastructure costs, which is an essential benefit of ensuring a cloud-based turnover.
Nonetheless, many organizations fail to understand the importance of baked-in support costs provided by default in the existing data centers. For instance, during the initial transition stage of the data center to the cloud, the agencies witnessed that the usual servers, which cost $1,000 a month, only cost about $43, excluding the maintenance cost.
There is also the lack of understanding that early adopters faced during their transition to the cloud, which is why those organizations may have paid a bit more than usual. Not to mention, the labor cost associated with the transition was further hidden during the legendary move.
Some companies, such as Aquilent, have been on the leadership board in cloud platforms ever since 2009. These companies have witnessed the evolution of disparity between the growing savings to the cloud with additional costs, such as labor. In other words, a federal agency may have to bear around $3,000 per month for running ten servers after the transition. However, they may have to spend $15,000 every month with the additional labor costs.
It does not work well since you expect cloud platforms to save a lot of money. Nonetheless, with the ITaaS model, federal agencies can better gauge their needs and reduce costs. For instance, the Aquilent model has a fixed rate per server, which is not a significant disparity considering that you must support and host the servers themselves.
Government officials do not need to be convinced about the importance of emerging technologies such as cloud-based systems. On the other hand, they are eliminating their data centers and drastically shifting to the cloud to save money. However, they must also address their labor costs with other cloud benefits.
However, the ITaaS model has three main benefits: scalability, predictability, and pay-as-you-go pricing structure. However, transitioning your agency to an ITaaS model doesn’t happen quickly. It requires an integration of people, processes, and governance; no matter how beneficial it may be, change always brings challenges.
In response, contractors are offering agencies new options. For example, they charge monthly rates to use servers of all sizes without requiring any further commitment. Agencies are buying a high-value service, not another pair of hands.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
All public, limited, and private businesses need to keep track of their accounting records. Maintaining company accounts helps businesses manage and monitor every aspect of their finances, from revenue to costs to taxes and more. Without proper fund management, it is difficult for an organization to know where it stands in real-time.
International accounting standards constantly change to simplify them, so organizations and businesses update themselves by implementing modern accounting techniques to ease the process flow of better financial management.
Cash-Based Accounting
Organizations follow a cash-based accounting system; this simplifies the process of preparing financial statements. Following this system, organizations only record their revenues when they are physically received and expenses when incurred. Rather than following an accrual-based accounting system that records income and expenses even if it is not received or incurred, the cash-based accounting system is considered the practice that provides accurate information on the company finances.
Standard Costing
Organizations prepare their financial budgets based on expected costs and then analyze the difference between expected and actual costs. With the latest accounting software and tools, business owners can quickly examine the variances between actual and anticipated costs in real-time. This information helps in better managing company finances. In the past, these techniques required trained accountants for manual calculations. Many accounting software packages include some of these functionalities for efficiency and accuracy.
Balanced Scorecards
Another modern accounting technique is the balanced scorecard, a performance management tool that combines financial and non-financial measures to give a holistic perception of the organization and individual’s performance. Despite some limitations, a balanced scorecard is still one of the latest accounting techniques used in many organizations. Business owners can measure the company’s financial performance, which helps in better decision-making.
Real-Time Inventory
With the change in technology and the advent of RIFDs, many company’s inventory management systems changed drastically, moving from manual counting of the stock with the chances of human error to the automation of inventory management. Accounting occurs with minimal mistakes. Based on the organization’s policies, business owners use periodic or perpetual inventory systems to increase profits. The invention of new technology has changed the inventory management process: periodic inventory systems record inventory purchases and payments at the month-end. In contrast, Perpetual Inventory systems account for and record every transaction in real-time. RFID technology has made this process much more manageable. Attaching RFID tags to the inventory allows business owners to track their inventory and its costs in real-time and with more accuracy. Just scan the merchandise at the time of sale, and the inventory management happens automatically. Using real-time inventory management with RFID technology reduces the chances of human error. Financial managers and business owners can now monitor their finances with accuracy.
Process Management
There have been profound changes in process management over the years. Previously, business owners’ focus was only that the process was working correctly, without any errors. For finished products, businesses in the manufacturing industry check every 100th finished product to track the quality. With modern technology and equipment, finished goods are passed through quality-checking machines and equipment to ensure that every product passes the quality control process. This quality control system improves the overall quality of products and limits the chances of product returns. Thus ensuring proper accounting management to improve financial management decisions.
Total Quality Management
With the traditional practices, there were no or lesser checks on the product quality. The improved systems and invention of the technology have eased the process flow with more significant quality checks. With increasing customer awareness about products and growing competition, businesses now focus on quality. A company without quality management practices will increase the number of product returns, meaning the company will suffer financial losses as these costs add up. By adding the total quality management system, companies focus on detecting and reducing or eliminating errors in the manufacturing process, streamlining the supply chain and logistics, enhancing the customer experience, and ensuring adequate employee training. This process improves inventory management and helps manage the company finances to invest in new opportunities.
The innovation brought in by improving accounting techniques and practices has immensely influenced organizational applications and procedures. The newly updated accounting standards have eased the accounting applications in organizations, ensuring accurate and appropriate delivery of relevant information within the same financial year. Modern accounting techniques cover the critical deficiencies in old accounting practices; this helps management accurately use company finances to make better financial decisions.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
In today’s business landscape, having a well-designed website is crucial for the success of most organizations, including restaurants. A notable trend in the restaurant industry that has been gaining momentum is the adoption of restaurant online ordering systems. This innovative approach not only helps to increase sales but also streamlines the overall operations of restaurants, making them more efficient. When customers visit a restaurant’s website, they expect to find comprehensive information about the establishment, including its menu offerings. In the past, a restaurant website only needed to provide basic details such as the menu and location. However, in today’s digital age, consumers have higher expectations and anticipate a more immersive online experience when interacting with restaurant websites.
As a restaurant owner, your list of essential tasks is longer than you would like.
They all have something in common: the importance of promoting and achieving the highest profitability for your restaurant in all possible channels. You may notice that most direct competition from your restaurant has a website, which should make you wonder:
Should I invest in the web of my restaurant?
What benefits will I stop having if I do not?
We will analyze everything you need to know about managing your restaurant’s website and how it will help you increase your sales.
Why does your restaurant urgently need a web page?
Nothing better than to tell you about the main reasons for you to be the one who realizes its usefulness:
Attract New Customers
If any of your potential customers enter Google right now and look for: Restaurants in Madrid (or in the city where you are), but your business does not have a website, you will never find it.
Not having it will not only cause you to lose hundreds of clients because it will be impossible to find you, but it will also prevent those people who happen to consider visiting you from having where to look for information about you.
Not having a website for your restaurant will limit your customers to people who pass through your door and those who can see you on social networks. But if they are not using the right strategies, they will not help discover you.
Getting your business to grow depends more on what you think of something as simple as a click.
Contains Vital Restaurant Information
Your customers or potential customers want to know everything about you, and if they do not get it or take too long to find that information, do not doubt that they have hundreds of options.
Nowadays, it is so easy to find the information you are looking for on a website that if your restaurant does not have it, few will decide to risk visiting you without it.
It is an Investment that Helps You Grow in the Short and Long Term
Do not forget that a website is a marketing tool, and investing in it will yield good results in the long term.
Furthermore, this investment does not have to be high since you can manage it yourself and save a lot of money on your budget.
If you do not want to hire another company to manage your website (especially at the beginning), opt for training because the little time you have should not be an excuse or a limit to your business’s success.
It Helps You Stand Out from Your Competition
If your competition does not have a web page, investing in yours will allow you to redirect all the traffic of customers looking for a place to eat that they are losing.
And until they realize their big mistake, you have seized the opportunity to take advantage, increasing your sales and creating an extensive list of customers who know you and are loyal to you.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
Unlock Efficiency with the Best Business Process Modeling Techniques
The best business process modeling techniques help organizations visualize their workflows through standardized visual methods like BPMN, flowcharts, SIPOC diagrams, and Value Stream Mapping to eliminate bottlenecks, reduce costs, and boost operational efficiency. According to recent market analysis, the global business process management market will explode from $21.25 billion in 2025 to $170.93 billion by 2032—a staggering 18.6% annual growth rate that proves organizations worldwide are investing heavily in process modeling solutions.
Over my 20+ years leading Complete Controller, I’ve witnessed firsthand how process chaos derails even the most promising businesses. Teams duplicate work without realizing it. Critical bottlenecks hide in plain sight. Compliance risks lurk in unstructured spreadsheets and email chains. The transformation happens when organizations finally map their processes visually. One of our manufacturing clients implemented BPMN modeling and slashed their order-to-delivery cycle by 18 months. Another service firm used SIPOC diagrams to spot three non-value-adding steps—saving $140,000 annually. This guide shows you exactly which modeling techniques deliver results, how to evaluate them for your specific needs, and the proven implementation steps that turn process chaos into operational excellence.
What is the best business process modeling technique for your organization?
The best business process modeling technique depends on your goals: BPMN for automation, Value Stream Mapping for lean efficiency, SIPOC for alignment, flowcharts for communication
BPMN (Business Process Model and Notation) ranks as the gold standard for organizations planning automation or needing detailed, executable workflows
Value Stream Mapping excels at exposing waste and inefficiencies, making it ideal for lean transformations and cost reduction initiatives
SIPOC diagrams create stakeholder alignment and prevent scope creep before investing resources in detailed modeling efforts
Flowcharts offer intuitive visual communication for team engagement but lack the standardization needed for automation
The Five Best Business Process Modeling Techniques (And How to Choose)
Business process modeling encompasses multiple standardized approaches, each designed for different complexity levels and business objectives. Understanding the strengths and limitations of each technique is critical to selecting the one that aligns with your organizational goals.
BPMN (business process model and notation) — The gold standard for automation-ready processes
BPMN stands as the most widely adopted and standardized technique, developed by the Object Management Group (OMG) specifically for capturing business workflows. Unlike techniques adapted from other domains, BPMN was purpose-built for business processes, making it superior for detailed, executable modeling.
A 2016 business process survey found that 64% of businesses are interested in adopting BPMN to simplify their business processes, with 65% of survey respondents reporting that BPMN processes and technologies have helped their organizations improve efficiency, versatility, and customer satisfaction.
Key strengths of BPMN include:
Graphical clarity with standardized shapes and flows that bridge business and technical teams
Execution-ready design that integrates directly with BPM systems and automation platforms
Versatility to support everything from simple linear processes to complex, event-driven workflows with parallel activities
Industry-standard adoption—meaning your team, vendors, and future hires will understand your models
Choose BPMN if you’re planning automation, need detailed process documentation, or require enterprise-scale workflows with parallel activities and conditional logic. According to comparative analysis, BPMN ranks #1 among BPM techniques for direct representation, automation capability, and open standards adherence.
Value stream mapping (VSM) — The lean specialist’s tool
Value Stream Mapping visualizes every step in a process—from request to delivery—to distinguish between value-adding and non-value-adding activities. VSM focuses explicitly on time, flow, and waste elimination.
Companies implementing lean principles through Value Stream Mapping report an average 20-30% reduction in operational costs within the first year alone. When lean methodologies are applied systematically through process improvement, organizations typically achieve ROI between 200-600% in the first year.
Key strengths of VSM include:
End-to-end visibility across entire value chains, revealing hidden inefficiencies
Time-focused analysis that highlights lead time, cycle time, and delays
Waste elimination focus, aligning with Lean Six Sigma methodologies
Simplicity—VSM can be created with pen and paper, making it accessible to frontline teams
Choose VSM if your priority is identifying and eliminating waste, you’re implementing Lean methodologies, or you need to communicate process inefficiencies to leadership. VSM excels at exposing non-value-adding steps that BPMN might not highlight.
SIPOC diagrams — The high-level scoping tool
SIPOC (Suppliers, Inputs, Process, Outputs, Customers) provides a simple, high-level technique that defines process scope and establishes a shared understanding before diving into detailed modeling.
Key strengths of SIPOC include:
Low complexity—easy to create and understand across all skill levels
Alignment function—stakeholders agree on scope before investing in detailed analysis
Foundation for deeper analysis—works as a starting point before transitioning to BPMN or VSM
Visual simplicity that engages non-technical stakeholders
Use SIPOC as your first step when initiating any process improvement initiative. It’s particularly valuable for large transformation projects where alignment is critical before deeper modeling begins.
Flowcharts — The intuitive communicator
Traditional flowcharts use simple shapes (rectangles, diamonds, circles) to represent process steps and decision points. They remain popular for their simplicity and universality.
Key strengths of flowcharts include:
Intuitive visual language that doesn’t require specialized training
Quick creation and communication—ideal for rapid prototyping and stakeholder discussions
No learning curve—nearly everyone can read and contribute to flowcharts
Limitations of flowcharts:
Lack standardization—different teams may interpret symbols differently
Poor for automation—flowcharts don’t translate directly to executable workflows
Struggle with parallel processes and complex conditional logic
Use flowcharts for initial brainstorming, stakeholder communication, and simple sequential processes. However, transition to BPMN for execution-ready precision if automation or detailed documentation is your goal.
UML activity diagrams — The systems integration specialist
UML (Unified Modeling Language) Activity Diagrams model system interactions, logic flows, and object-oriented processes, making them valuable for technical teams designing software-driven workflows.
Key strengths of UML Activity Diagrams include:
System-level precision for capturing complex logic and data flows
Integration with software design models for end-to-end traceability
Medium complexity that bridges business and technical modeling needs
Limitations:
14 different UML diagram types create a steep learning curve
Overkill for simple business processes without significant technical components
Use UML when modeling software systems, designing complex data flows, or documenting technical requirements alongside business processes.
How Business Process Modeling Techniques Compare (Side-by-Side Evaluation)
Selecting the best business process modeling technique requires evaluating your specific needs against five critical criteria: complexity, automation readiness, ease of use, tool availability, and cost.
Comparative framework for best business process modeling
Technique
Best For
Complexity
Automation-Ready
Learning Curve
Tool Examples
BPMN
Detailed, executable workflows
High
✅ Yes
Medium
Bizagi, Camunda, HEFLO
Flowchart
Simple, intuitive diagrams
Low
❌ No
Low
Lucidchart, Draw.io
SIPOC
High-level scoping & overview
Low
❌ No
Low
Excel, Templates
UML Activity
System interactions & logic
Medium
✅ Sometimes
High
Visual Paradigm, StarUML
Value Stream Mapping
Lean analysis & waste elimination
Medium
❌ No
Medium
Miro, Excel, Manual
Decision matrix: Selecting your technique based on business goals
When automation or digital transformation is the goal, BPMN becomes essential. Its execution-ready structure connects seamlessly with BPM platforms, RPA tools, and workflow engines.
If your priority is Lean improvement and operational efficiency, Value Stream Mapping reveals waste and clarifies flow in ways other methods simply don’t.
At the start of an initiative—especially during stakeholder alignment—SIPOC establishes shared understanding and minimizes scope creep before deep modeling begins.
Need fast communication and strong team engagement? Flowcharts remove complexity and invite participation from frontline staff and non-technical contributors.
In enterprise software development environments, UML Activity Diagrams deliver the technical precision and integration needed to model complex system logic.
Real-World Case Study: How Process Modeling Transformed Operations
Tessenderlo Kerley Inc. (TKI), a chemical company with 65+ years of experience, faced process inefficiencies in its order processing workflows that threatened its ability to scale. The company was processing 35,000 orders annually, with 75% arriving in the first five months, creating massive seasonal bottlenecks.
TKI selected an enterprise-grade process automation platform to document, map, and automate their order-to-cash processes. They implemented business process modeling to visualize current workflows, identified automation opportunities, and deployed automation across their entire operation.
Measured outcomes:
70% decrease in order processing time
80% decrease in invoice processing time
4 customer service representatives repurposed to higher-value tasks
30% more orders managed with fewer staff
100% visibility to retrieve and track sent invoices
This case demonstrates the complete lifecycle of process modeling—from identifying bottlenecks to implementation to measurable ROI. TKI’s results show that process modeling doesn’t just improve efficiency; it frees human resources for more valuable work while maintaining or increasing output.
Beyond Documentation: How the Best Business Process Modeling Drives Continuous Improvement
Many organizations stop at documentation—creating process diagrams and filing them away. The best business process modeling becomes a foundation for measurement, optimization, and organizational learning.
From static diagrams to dynamic optimization
While traditional business process modeling emphasizes documentation and visualization, process simulation software takes models further by testing “what-if” scenarios. The best approach combines both: use BPMN for documentation and compliance, then leverage simulation tools to test optimization hypotheses before implementing changes.
BPMN models connect to BPM platforms that track process execution in real time, revealing:
Actual cycle times versus expected timelines
Bottleneck patterns and their root causes
Resource utilization and capacity constraints
Compliance deviations and exception handling
The best organizations treat process models as living documents:
Model the current state (As-Is)
Analyze metrics and identify improvement opportunities
Design the future state (To-Be) with your best business process modeling technique
Implement and monitor execution
Use data to drive the next iteration of improvements
This cycle transforms modeling from a one-time project into a continuous capability.
Avoiding the automation trap
Not all modeling techniques are equally ready for automation. BPMN’s strength is its executability—BPMN models can be deployed directly to workflow engines, RPA platforms, and low-code automation tools. Flowcharts and SIPOC diagrams, while valuable for communication, don’t translate directly to automation without significant rework.
Organizations that account for automation’s “hidden returns” typically realize 3-4x the ROI they initially calculated. For example, an initial labor savings calculation of $22,000 was actually $212,000+ when error reduction, rework elimination, and faster restructuring execution were included.
If automation is on your roadmap, invest in BPMN from the start. The translation cost of converting other formats to executable BPMN is often underestimated in implementation plans.
Implementing the Best Business Process Modeling: A Phased Roadmap
Choosing the right technique is step one. Implementation strategy determines success. Here’s the phased approach that works:
Phase 1 — Scoping & alignment (Weeks 1-2)
Deliverable: SIPOC diagram for your first priority process
Identify Suppliers, Inputs, Process steps, Outputs, and Customers
Document assumptions, constraints, and improvement goals
Gain stakeholder alignment on scope before investing in detailed modeling
SIPOC prevents scope creep and ensures you’re modeling the right process. Skipping this often leads to detailed models of the wrong workflow.
Phase 2 — As-Is Modeling (Weeks 3-6)
Deliverable: Detailed BPMN model of current process (if automation is planned) or flowchart/VSM (for communication)
Actions:
Interview frontline process participants and document actual workflows
Capture decision points, exceptions, parallel activities, and handoff delays
Use BPMN 2.0 notation if you’re planning automation
Identify wait times, rework loops, and manual handoffs
Understanding current reality is essential. Many processes deviate from documentation. Frontline workers’ insights reveal inefficiencies that management never sees.
Phase 3 — To-Be Design & Validation (Weeks 7-10)
Deliverable: Optimized BPMN model representing desired future state
Create To-Be BPMN model showing improved workflows
Run stakeholder validation sessions
Calculate expected improvements: cycle time reduction, cost savings, error reduction
Designing improvements collaboratively increases adoption. When frontline staff help design changes, they become advocates instead of resisters.
Conclusion
The best business process modeling technique transforms organizational chaos into operational excellence. Whether you choose BPMN for automation readiness, Value Stream Mapping for lean efficiency, or SIPOC for stakeholder alignment, the key is starting with clear objectives and following a structured implementation approach.
According to BCG analysis, only 35% of digital transformation initiatives achieve their objectives. However, organizations with strong process alignment achieve 10.3x ROI compared to 3.7x for organizations with poor integration. Clear process documentation through business process modeling directly addresses these failure points by creating alignment, transparency, and a foundation for change management.
Your next step is selecting the right technique for your specific goals and beginning the journey from process chaos to operational clarity. At Complete Controller, we’ve guided hundreds of businesses through this transformation, helping them document, optimize, and automate their financial processes. Contact our team at Complete Controller to discover how the right process modeling approach can unlock efficiency and drive growth in your organization.
Frequently Asked Questions About Best Business Process Modeling
What is the difference between BPMN and traditional flowcharts for business process modeling?
BPMN uses standardized notation specifically designed for business processes, making it executable in automation platforms, while traditional flowcharts use simple shapes that are easier to understand but cannot be directly automated. BPMN supports complex workflows with parallel activities and conditional logic, whereas flowcharts work best for simple, sequential processes.
How long does it typically take to implement business process modeling in an organization?
A complete implementation typically takes 15-20 weeks for a single priority process, including scoping (2 weeks), as-is modeling (4 weeks), analysis (3 weeks), to-be design (5 weeks), and pilot implementation (5 weeks). However, simple process documentation using flowcharts or SIPOC can be completed in days.
What ROI can I expect from investing in business process modeling?
Organizations implementing process modeling report 20-30% operational cost reduction in the first year, with ROI ranging from 200-600%. When accounting for hidden returns like error reduction and faster execution, the actual ROI often reaches 3-4x initial calculations.
Which business process modeling technique should I start with if I’m new to process improvement?
Start with SIPOC diagrams to establish process scope and stakeholder alignment, then progress to either BPMN (if automation is planned) or Value Stream Mapping (if waste reduction is the priority). Flowcharts work well for initial team engagement before moving to more sophisticated techniques.
Do I need expensive software tools to begin business process modeling?
No, you can start with free tools like Draw.io for flowcharts, Excel templates for SIPOC diagrams, or even pen and paper for Value Stream Mapping. However, organizations planning automation should invest in BPMN-compatible platforms like Bizagi Modeler (free version available) or similar tools.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
Jennifer BrazerFounder/CEO
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.
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About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
