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Important Standard Operating Procedures for your Business


paperfree Aditi Bansal


Updated on Monday, July 03, 2017

A typical standard operating procedure should document the routine procedures in business. According to the EPA, a standard operating procedure should be developed in a step-by-step manner and should be inclusive of flowcharts to illustrate the existing relationship between departments and activities.

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Ensure that you review policies after every one to two years to ensure that they are relevant.

Financial Procedures

Financial information regarding financial reporting should constitute components of a SOP. Instructions for a board of director’s meeting, annual stockholder meetings, and release of important financial documents should also be included. In case the business raises its capital due to asset acquisition, leasing, or bank loans, the standard operating procedure should be explained.

Accounting Practices

Include a standard operating procedure for your accounting unit; this is regardless of whether it consists only of one or several employees. A SOP for the accounting department should include instructions on how to manage accounting documents, legal expenses, property tax assessments, and confidential contracts. Consider including documentation and handling of entertainment and travel expenses, as well as wire transfers, bank reconciliations and policy transfers.

Human Resource Procedures

Incorporating HR procedures in your SOP is important, including guidelines for conducting interviews, job policies and description during the application process and background checks is important. You can also include compensation and other benefits, for instance, employee health insurance, benefits and payroll policies, and retirement security benefits. Some of the additional guidelines include complying with the federal requirements, for instance, the American Disability Act.

IT and Computer Procedures

Include information technology and computer processes in your standard operating procedures, for instance, the company policy on the use of email, the internet, hardware and software evaluation, training, and evaluation. Your SOP can also include reflective standards to assess risks of a breach in security technology and recommend on how to conduct necessary technology security audits.

Security

Security measures and ways to maintain safety should be a component of your SOP, as well as guidelines and ethics statements for employee code of conduct and steps that should be taken during emergencies, for instance, fires and other natural disasters.

Sales and Marketing

Biz Manualz, a standard operating procedure expert, recommends that businesses should include sales and marketing strategies in their SOPs. They should also include market research guidelines and procedures on what actions to take such as marketing, direct mail, public relations, and Internet marketing.



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