“Tomorrow becomes never. No matter how small the task, take the first step Now” – Tim Ferriss
A Standard Operating Procedure (SOP) is a set of step-by-step instructions compiled by an organization to help workers carry out complex routine operations. Standard Operating Procedure (SOP) is a set of processes or procedures that each department in an organization has to follow on a daily basis while performing each task. Emirates Chartered Accountants helps you to form a Standard Operating Procedure (SOP) to achieve efficiency, quality output, and uniformity of performance. It will reduce miscommunication and failure to comply with industry regulations.
In midst of all the general business operations, it would be difficult for the management to monitor the maintenance of assets, thus resulting in a huge loss of investment through major repairs / frequent replacements. The following controls will have to be kept in place to ensure that there is no loss on account of assets:
Reduce Errors and Enhance Productivity – A pre-set operating procedure will define the process to be followed by the employees thus reducing errors, and enhancing the productivity of the working
Meet legal requirements – While setting procedures, all legal requirements and compliances will be ascertained ensuring that the company is abiding with the laws of the land.
Establish Chain of Command – Defining a hierarchical structure will provide direction to the employees while performing their duties enhancing the effectiveness and reducing the time involved in obtaining permissions
Helps transfer of work easily – Once the data process is defined, an employee will be able to carry out the tasks purely based on the set procedures. This will enable new recruits to adapt to the work easily.
Standard Operating Procedure in Dubai, UAE.
Emirates Chartered Accountants Group - Professional consultants in Standard Operating Procedure in Dubai, UAE.
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1. Cash and Bank – Procedure to administrate and control collections and payments, ensuring accurate records for cash and bank transactions and reporting formats.
2. Procurement / Purchases – Proper approvals and authorization of purchase requests, ensuring products are purchased as per specifications sanctioned, and setting procedures for accounting the purchases. The Standard Operating Procedure (SOP) will also define the procedures to be set for purchases ensuring that the purchases are made at the right time, with the required quantity and best rates, achieving a reasonable quantity of goods in hand.
3. Stores and Inventory Management – Procedure to safeguard stock, maintain proper records detailing the stock issued and stock in hand, reconciling the accounts records with store records, and process for notifying timely replenishment to establish minimum quantities for each item.
4. Management of Logistics – Procedure to coordinate all activities required to achieve the desired level of delivery at the least possible cost, covering all activities from procurement and management of inventory to delivery of products.
5. Sales and Receivables – Procedure to record sales in an organized manner, implementing proper credit control, guidelines to make timely collections possible, and providing management reports.
6. Employee Costs and Management – This head will cover the assessment of the utilization of employees, performance analysis against their targets, duties, and responsibilities, and ensuring that the employment terms are as per market trends and incentives are in line with the performance.
7. Key supports to the Management – The areas of poor management will be highlighted, discussions will be held with employees and management to identify bottlenecks and find remedial measures and assist the management to focus and direct the working of the organization to achieve the vision of the company.
8. Reporting Formats – The templates for MIS reports on procurement, sales, payroll and HR, and financial statements will be incorporated based on the specific need of the business, to facilitate effortless reporting to the management and stakeholders.
9. Other requirements of the client – Depending on the requirements of the client, we will provide customized operating procedures catering to the specific needs of the business.
1. Planning – Our executives will meet with the management and understand the specific needs of the management, the current challenges they are facing and the target the management wants to achieve.
2. Internal review with staff – the executives will further interact with the staff of the company to understand the operational difficulties faced by them during the current course of execution of work. This is essential as the same has to be addressed while preparing the Standard Operating Procedure (SOP).
3. Preparation of Preliminary Manual – With input from the management and staff, a preliminary manual will be prepared to cover the A-Z operations of the company.
4. Training to employees – The employees will be trained on how to follow the Standard Operating Procedure (SOP) and execute their operations completely as per the set procedures. All processes will have to be carried out as mentioned in the Standard Operating Procedure (SOP) and templates will be provided across departments ensuring uniformity in the maintenance of records.
5. Testing and review – The defined procedures will be tested across all departments and the difficulties/ further requirements/ required changes will be analyzed.
6. Submission of Final SOP and support for implementation – The above-mentioned review points will be incorporated, and the final Standard Operating Procedure (SOP) will be issued to the management.
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People usually ask
A standard operating procedure is a set of step-by-step instructions formed by an organization to help its employees to carry out day-to-day operations. SOPs help to ensure uniformity of performance and reducing miscommunication and failure to comply with industry regulations.
• SOP helps to achieve efficiencies, and therefore profitability.
• Consistency and reliability in production and service.
• Helps to reduce errors in all areas and a way to resolve conflicts and create a healthy and safe environment.
• It acts as a roadmap for resolving issues
The purpose of this Standard Operating Procedure (SOP) is to establish uniform procedures pertaining to the operations, the performance, and the reporting. So, it should include:
• Should give description and scope of works.
• Should provide detailed step by step information such as who, when and how to perform each task.
• Clarification of terminologies including acronyms and phrases not familiar to the staffs.
• Guidelines and formats for reporting.
• Fixing Organizations Internal Rules.