During the Maintenance phase, Lamplighter professionals ensure that the changes implemented during the Conversion phase continue to run smoothly within the constructs of the client’s corporate structure. Periodic reporting is standardized, forecasts and budgets are developed/refined, cost cutting and process improvement initiatives are identified, and Lamplighter’s professionals take over managing the interactions with third-party accountants and banks.
The goal of the Maintenance phase is to standardize procedures and establish a track record of reliable financial reporting. Doing so indicates to potential investors that the company has a firm grasp on its financial situation and can react quickly to any curveballs the marketplace may throw at it. Standardized reporting also relieves additional time constraints from the client’s senior management team, allowing them to focus on running the business.