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Transition Process

Analysing the processes & current control weaknesses

Transition Process

Simplified Transition Process - CapActix

At CapActix, we follow the stringent procedures to ensure a smooth and seamless transition of your current account set up into new integrated accounting environment. We understand that every business is unique, and so is our approach!

Through our effective transition methodology, we transfer the in-house processes to CapActix’s environment without any disruption to regular operation. We have broadly segmented our transition management solution in five sections, ranging from business understanding to the monitoring & review phase.

During the business understanding stage, we will work with our clients for the following accomplishments:

  • Determining the nature of the business and the volume of work and processes to be outsourced
  • Analysing the current documentation system, process flow, and internal control system.
  • Reviewing the policy and procedures in place
  • Identifying the improvements or changes required in the current system for the transition of work from the client environment to CapActix’s environment.
  • The site visit by CapActix Team if required or communicate via phone, teleconference and chat for understanding client’s business and requirements.
  • A closer approach to the work with a client to identify the scope of services to be outsourced.

Overall the understanding of business is used for analyzing the gap between the current system and proposed system required from risk management and internal control perspective. This mainly includes:

  • Comparison of the current system with the proposed system and identifying the gap
  • Analysis of gap and finalization of scope Statement based on the requirements of control points
  • Clear identification and communication of roles and responsibility of CapActix and the client during the transition process
  • Identifying the process weaknesses, suggesting and developing new processes wherever necessary by CapActix and client
  • Fixing the deadline to complete the transition process
  • Clear Identification of gap and scope to identify resource requirement and allocation
  • CapActix make provision for the additional resources and infrastructure facility if required for the easy transition process
  • We analyze the number of different software and add-ons suitable for client’ reporting requirement.
  • We consider sending comparative analysis of the different software to the clients to provide broader choices
  • Our transition process relies on the complexity and quantity of the work along with the given timeline. It may vary from one month to three month
  • We document and draft every process either related to document, data collection, understanding of client business, roles and responsibility of every officer (RASCI Matrix) and cost apportionment master
  • We do compare actual performance at regular intervals and communicate the same to the management for further required actions
  • We advise our client for parallel running of their current system until the new system is fully tested and implemented.
  • During our implementation phase, the client team is also trained on new software’s functionality and features if any to view and generate reports.
  • During our transition process, we expect our client to follow standardized processes which can further be improved for a better internal control system.
  • We aim for strict monitoring of each and every task that is defined in the scope of the statement and monitor the same on a regular basis
  • We implement automation and control checkpoints in different processes for improved internal control system
  • We do consider regular reporting to the touch points about new system implementation progress and receiving inputs from a client for further improvements

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