DIAGNOSTIC PHASE (Assessment)
After the initial meeting(s) and we are chosen for the project we begin each assignment with an assessment. This phase enables us to obtain vital information about your business and to make an evaluation of the company’s strengths and/or weaknesses, inconsistencies and controls.
Note: In order for any business project or client relationship to be profitable; Management must lead by example:
- Exhibiting Integrity
- Accepting the possibilities and realities for change
- Being able to disclose the “truth” when asked questions about company matters
- Providing continued cooperation and access to information and appropriate personnel
The length of the diagnostic phase is dependent upon many elements, two key factors:
- the size of your company
- the scope of your project. A fee is charged to recover cost.
What we learn from the assessment stage enables us to develop a project outline. This project outline defines in detail the work to be done on your project, the anticipated duration, and projected cost. The project outline is presented and discussed with you to make sure we are addressing the real needs of your company. When the project outline is approved, a date is set for the start of the consulting project. Although there is no obligation on your part to continue beyond the diagnostic phase, we do encourage that you do for continuity purposes.
IMPLEMENTATION PHASE (Execution)
This phase deals with the execution of the approved program. Procedures and recommendations are generated and installed to ensure that the issues identified in your project are properly addressed. Each procedure and recommendation is discussed with appropriate company personnel to make sure that there is a good understanding of what needs to be done and how it will/should be implemented.
The length of this consulting phase is dependent upon several factors; company size, project scope, budgetary constraints, technological issues and management’s willingness to cooperate. Custom tailored progress reports are created in collaboration with client and KGS Financial
TRANSITIONAL PHASE (Consultants move on)
This stage is strategically structured so that your personnel are properly trained to carry out their specific tasks. Critical financial and operating information is reviewed to make sure that the company is on the right track. Corrective action is taken to ensure that objectives have been achieved, and that all procedures related to the consulting project have been implemented, understood and are working.
Another critical, but often overlooked step in determining a projects continued success is the FOLLOW-UP PROCESS. This is usually done on a pre-arranged schedule, quarterly or annually after the transitional phase has ended, a fee is charged to recover cost