policyIQ team members often get questions about the process involved in implementing policyIQ for a new use and how long such an implementation might take. Our answer is always, “It depends”. It depends on how much of the process that takes place outside of policyIQ needs to be developed, the resources available to devote to the implementation and the alignment of the new implementation with the execution of competing projects. To help address this question, we thought that we’d provide a real life example…
Jim Blickendorf, the Director of Accounting Operations at Forsythe Technology, Inc., made the decision to purchase policyIQ for Account Reconciliations in April of this year and shortly thereafter, he appointed Senior Business Analyst, Rae Muranski, to oversee the implementation of policyIQ.
Rae hit the ground running; scheduling a planning and configuration meeting with her policyIQ implementation partner. Rae took some time to learn how policyIQ works for Account Reconciliations and made a point to review Forsythe’s Account Reconciliation process. This was the ideal time to refine their process and to implement best practices going forward. Rae made decisions about which variables would be most valuable for her organization to track going forward. She considered who would be involved in the process and what their responsibilities would be.
After mapping out her wishes, Rae determined the implementation path that would best accommodate Forsythe’s needs—that is, whether to go with a single Form Template or multiple Form Templates (broken down by approver). For more information on what goes into this decision, check out our recent blog post: Account Reconciliations: One Form Template or Multiple? Upon reviewing the options, Rae determined that Forsythe would benefit by the reporting advantages of developing their Account Reconciliation List Templates based on a single Form Template.
Forsythe has a few hundred balance sheet accounts to reconcile on a monthly basis. Rather than building each of the Form List Templates with specific account data for each account manually, she engaged the services of the policyIQ Support Team to add these Customized List Templates directly into the database. Rae also took advantage of her ability to import users rather than adding each one manually. Because Rae utilized the services of the policyIQ Help Desk to import her List Templates, she was able to designate the preparer and the approvers (which she previously imported) as a part of the List Templates creation process carried out by the policyIQ Support team.
Rae moved on to exercising the assignment of reconciliations to preparers, developing a solid understanding of the features available to Form Template Administrators. She then proceeded to explore the reporting options available to her.
So, in less than 60 days, Rae Muranski performed a complete sweep of her organization’s Account Reconciliation process, refining the process and incorporating best practices in the process while learning how to use a new application and to apply that tool to bring automation and powerful oversight capability to the Account Reconciliation process.
Wow! That’s impressive!