Standard Operating Procedures for Invoicing and Credit Control Functions at Company X
Virtanen, Rosa (2022)
Virtanen, Rosa
2022
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022111422604
https://urn.fi/URN:NBN:fi:amk-2022111422604
Tiivistelmä
The following report is a project-based bachelor’s thesis completed for the degree programme in International Business at Haaga-Helia University of Applied Sciences. The project objective was to create Standard Operating Procedures (SOPs) for commissioning company X which operates in the chemical and industrial field. The benefits of this product are detailed as increased ease of new employee training, less margin for error, and potential increase in customer satisfaction. Qualitative and empirical methods were used in this thesis.
The first project task was to create the theoretical framework. It consists of eight topics: accounting, order-to-cash, invoicing, credit control, the overlap of invoicing and credit control, ERP, auditing, and internal control and SOPs. These topics form the foundation of the SOPs.
The product of the thesis was created in two project tasks. Project task 2 entailed mapping out the processes and project task 3 consisted of creating the SOPs and assuring the quality of the work. The mapping out was done through qualitative interviews, process maps and chats with employees working on these tasks. The creation of the SOPs was completed on Microsoft Word and the quality assurance was done through business meetings with the most qualified in-house parties in order to assess validity.
The key outcomes of the thesis were knowledge gained by the author and the completed product. Although, the project was concluded successfully, the author pay special attention to time and resource management should they undertake a similar project in the future. The author received positive feedback from the commissioning company, though the implementation of the SOPs had not yet happened. The commissioning company was happy with the result and commended the author for good project communications skills. The author feels they were able to learn from completing this thesis and has confidence that they possess adequate knowledge to begin their career in finance.
The first project task was to create the theoretical framework. It consists of eight topics: accounting, order-to-cash, invoicing, credit control, the overlap of invoicing and credit control, ERP, auditing, and internal control and SOPs. These topics form the foundation of the SOPs.
The product of the thesis was created in two project tasks. Project task 2 entailed mapping out the processes and project task 3 consisted of creating the SOPs and assuring the quality of the work. The mapping out was done through qualitative interviews, process maps and chats with employees working on these tasks. The creation of the SOPs was completed on Microsoft Word and the quality assurance was done through business meetings with the most qualified in-house parties in order to assess validity.
The key outcomes of the thesis were knowledge gained by the author and the completed product. Although, the project was concluded successfully, the author pay special attention to time and resource management should they undertake a similar project in the future. The author received positive feedback from the commissioning company, though the implementation of the SOPs had not yet happened. The commissioning company was happy with the result and commended the author for good project communications skills. The author feels they were able to learn from completing this thesis and has confidence that they possess adequate knowledge to begin their career in finance.