This document discusses challenges facing risk management in financial institutions. It outlines the current state of increasing regulations, standards, and frameworks. It then discusses four main challenges: 1) Improving efficiency as redundant systems and processes have reduced efficiency. 2) Growing frustration with ongoing new regulations. 3) Keeping pace with increasing business growth and complex products while supporting revenue goals. 4) The complex environment is making it difficult to attract and retain specialized talent.
The Relationship Between ITG and ITSM Lifecycles PradeepBhanot
The document discusses the relationship between IT governance and IT service management lifecycles. It notes that both areas have evolved from being operations focused to becoming more risk and value focused. A key point is that IT governance and IT service management have similar drivers of business alignment, transparency, best practices, rigor, formality, policy and compliance. The document advocates taking a holistic view and creating a unified service model to bring more transparency and value to both IT and the business.
In today's economy there is a driving need to cut costs. Yet the uncertain and changing environment makes business agility more critical than ever. To successfully address both these challenges companies must reduce maintenance costs and lead times for their existing mainframe systems and core application portfolio. They need to find ways to renovate the right pieces of their existing applications. Minimizing risk by retaining the majority of the code, yet reducing maintenance costs and improving agility by modernizing critical components. Service-Oriented Architectures deliver the framework to successfully transform core IT assets, and companies are rightfully embracing the approach. But more is needed.
This presentation covers applying Decision Management, SOA and Business Rules Management Systems to renovate your existing applications. Used together these approaches dramatically reduce maintenance costs and increasing business agility. You will see how to use the techniques and technologies to identify critical components, externalize them and make them easier and cheaper to manage and change. Illustrated with real customer stories, this webinar will show you how to increase agility and reduce costs.
The document discusses Business Technology Optimization (BTO) software from HP that aims to align IT with business goals while reducing costs. BTO integrates solutions across IT strategy, applications, and operations to automate and standardize processes. This helps deliver measurable business outcomes, improve predictability and accountability of IT, and demonstrate IT's value. HP claims market leadership across the IT value chain with best-in-class products in categories like project management, application security, and asset management.
The document provides an overview of HP's IPG vertical approach to selling document workflow integration services. It discusses IPG's focus on specific vertical industries and identifying document-centric business problems. It also outlines the typical sales process, including conducting assessments, proofs-of-concept, and product implementations. Contact information is provided for IPG industry experts who can help with various sectors such as healthcare, financial services, and manufacturing.
The document discusses the role of the CIO in turbulent times and opportunities for CIOs to transform businesses through IT-enabled changes. It identifies three key areas for CIOs to focus on: optimizing IT costs while enabling lower business costs and better quality, increasing strategic focus on business relationships, information strategy, and enterprise architecture, and balancing enterprise risk with business demands through appropriate continuity planning. The document provides advice on industrializing IT operations, managing challenges, and leveraging technologies and alliances to add strategic value as a business enabler.
INSORCETM is a product that automates the design of optimal target operating models for financial services firms. It uses sophisticated algorithms and market data to facilitate strategic decision making and tactical implementation. INSORCETM analyzes inputs from all functions as constraints and provides a neutral analysis to help stakeholders. It can model the impact of decisions in real time to help clients transform processes, people, infrastructure, and more to reduce costs while meeting objectives.
The document discusses HP's IT Performance Suite, which includes Executive Scorecard (XS) and Enterprise Collaboration (EC). It focuses on using metrics to measure and improve IT performance across planning, building, and operating phases. The suite provides solutions for areas like financial management, security, application lifecycle management, and more to help organizations understand, execute systematically, and continuously improve business outcomes and IT.
SAP’s Approach to Sourcing and Procurement Strategies in Today’s EconomyJon Hansen
SAP's procurement solutions help companies address challenges in today's economy by delivering efficient source-to-pay processes to reduce costs. SAP provides options for on-premise, hosted, and on-demand deployment to support procurement goals. Benchmarking shows SAP solutions can increase managed spend and savings by hundreds of percent. SAP aims to drive rapid time to value through flexible deployment and easy to use best practice processes.
The Relationship Between ITG and ITSM Lifecycles PradeepBhanot
The document discusses the relationship between IT governance and IT service management lifecycles. It notes that both areas have evolved from being operations focused to becoming more risk and value focused. A key point is that IT governance and IT service management have similar drivers of business alignment, transparency, best practices, rigor, formality, policy and compliance. The document advocates taking a holistic view and creating a unified service model to bring more transparency and value to both IT and the business.
In today's economy there is a driving need to cut costs. Yet the uncertain and changing environment makes business agility more critical than ever. To successfully address both these challenges companies must reduce maintenance costs and lead times for their existing mainframe systems and core application portfolio. They need to find ways to renovate the right pieces of their existing applications. Minimizing risk by retaining the majority of the code, yet reducing maintenance costs and improving agility by modernizing critical components. Service-Oriented Architectures deliver the framework to successfully transform core IT assets, and companies are rightfully embracing the approach. But more is needed.
This presentation covers applying Decision Management, SOA and Business Rules Management Systems to renovate your existing applications. Used together these approaches dramatically reduce maintenance costs and increasing business agility. You will see how to use the techniques and technologies to identify critical components, externalize them and make them easier and cheaper to manage and change. Illustrated with real customer stories, this webinar will show you how to increase agility and reduce costs.
The document discusses Business Technology Optimization (BTO) software from HP that aims to align IT with business goals while reducing costs. BTO integrates solutions across IT strategy, applications, and operations to automate and standardize processes. This helps deliver measurable business outcomes, improve predictability and accountability of IT, and demonstrate IT's value. HP claims market leadership across the IT value chain with best-in-class products in categories like project management, application security, and asset management.
The document provides an overview of HP's IPG vertical approach to selling document workflow integration services. It discusses IPG's focus on specific vertical industries and identifying document-centric business problems. It also outlines the typical sales process, including conducting assessments, proofs-of-concept, and product implementations. Contact information is provided for IPG industry experts who can help with various sectors such as healthcare, financial services, and manufacturing.
The document discusses the role of the CIO in turbulent times and opportunities for CIOs to transform businesses through IT-enabled changes. It identifies three key areas for CIOs to focus on: optimizing IT costs while enabling lower business costs and better quality, increasing strategic focus on business relationships, information strategy, and enterprise architecture, and balancing enterprise risk with business demands through appropriate continuity planning. The document provides advice on industrializing IT operations, managing challenges, and leveraging technologies and alliances to add strategic value as a business enabler.
INSORCETM is a product that automates the design of optimal target operating models for financial services firms. It uses sophisticated algorithms and market data to facilitate strategic decision making and tactical implementation. INSORCETM analyzes inputs from all functions as constraints and provides a neutral analysis to help stakeholders. It can model the impact of decisions in real time to help clients transform processes, people, infrastructure, and more to reduce costs while meeting objectives.
The document discusses HP's IT Performance Suite, which includes Executive Scorecard (XS) and Enterprise Collaboration (EC). It focuses on using metrics to measure and improve IT performance across planning, building, and operating phases. The suite provides solutions for areas like financial management, security, application lifecycle management, and more to help organizations understand, execute systematically, and continuously improve business outcomes and IT.
SAP’s Approach to Sourcing and Procurement Strategies in Today’s EconomyJon Hansen
SAP's procurement solutions help companies address challenges in today's economy by delivering efficient source-to-pay processes to reduce costs. SAP provides options for on-premise, hosted, and on-demand deployment to support procurement goals. Benchmarking shows SAP solutions can increase managed spend and savings by hundreds of percent. SAP aims to drive rapid time to value through flexible deployment and easy to use best practice processes.
The document discusses SunGard Global Services, a provider of business consulting, technology, and professional services. It focuses on SunGard's offerings to financial services, energy, and corporate sectors. Key points include SunGard's history and size, global delivery model leveraging 5,000+ employees worldwide, and services across business consulting, technology consulting, and managed services.
This document summarizes the benefits of server virtualization using VMware software. It discusses how VMware allows organizations to [1] reduce IT costs through server consolidation and increased efficiency, [2] improve control over infrastructure through features like live migration and high availability, and [3] choose flexible deployment options both on-premises and in the cloud. Customer case studies are provided showing typical cost savings of over 50% through virtualization. VMware is presented as the proven leader in virtualization providing the highest ROI and strategic investment in a tough economic environment.
This presentation provides an overview of the COBIT framework for IT governance and control. It is designed for academic courses covering topics like information systems management, information security management, auditing, and accounting information systems. The presentation introduces the driving forces behind IT governance and control, an overview of the COBIT framework, and how COBIT maps to other relevant standards and frameworks.
The document discusses auditing IT compliance and governance. It introduces CobIT, an IT governance framework that can be used to manage IT risks and compliance. CobIT provides over 300 control objectives that help ensure business objectives are met and undesired events are prevented or detected. The document outlines how CobIT can be used to design, implement, assess, and monitor an organization's IT compliance program.
SilverStorm "Credibility and Collaboration to achieve excellence in IT Govern...SilverStormSolutions
"Credibility and Collaboration to achieve excellence in IT Governance"
So how are we at SilverStorm helping CIO´s Transform IT?
For us it´s simple, Transforming IT means raising the credibility of IT to gain the collaboration of others throughout the organization.
The first step: Increase “CREDIBILITY”.
The second step: Increase “COLLABORATION”.
Without “Credibility” there can never be “Collaboration”
We are helping our customers achieve measurable benefits by combing processes, people and technology.
The document discusses IT governance, defining it as the processes and relationships that lead to reasoned decision-making in IT. It covers key topics around IT governance including the definition, principles, decisions, processes, and mechanisms. The document is presented as part of an agenda on IT governance best practices and is intended to provide an overview of the topic for attendees.
This introduction to Strategic Agility summarizes insights for the necessity to change business practices to succeed in a world where competitive advantages are now fleeting.
Why IT Governance is a powerful business tool. Evaluating the potential for value creation –
the Governance Scorecard. Using the Scorecard to improve IT integration.
The document outlines an enterprise architecture plan for Child-Wear, a children's clothing manufacturer. It includes a vision, mission, organizational structure, key stakeholders and systems, as well as an analysis of current strengths, weaknesses, opportunities, and threats. Gaps in existing systems are identified and an approach is outlined to address the gaps, including consolidating systems, integrating systems, allowing online ordering, and collaborating with suppliers. An information architecture with standard data elements and access controls is also proposed.
The document discusses the eDiscovery market and opportunities for emerging eDiscovery vendors. It notes that the market is shifting from a reactive, case-driven model to a more proactive approach focused on enterprise compliance. For emerging vendors to succeed, they need scalable technology and the ability to integrate with broader content management and information governance initiatives. The document also analyzes acquisition trends that see global software firms acquiring specialized eDiscovery vendors to fill gaps and gain expertise in this growing market segment.
Enpower Process Consultants Pvt. Ltd. is an alternative to large management consulting firms that provides services to assist clients in building high performance businesses. It has expertise in areas such as IT, energy, environment, and human resources and utilizes best practices and frameworks to identify challenges, design solutions, and implement improvements for its clients.
The document discusses operationalizing service-oriented architecture (SOA). It recommends integrating development and operations to improve service quality. It also recommends building an SOA architecture with a vision for the future, focusing on SOA management best practices from past projects, and taking an exemplary project approach that runs functional and operational activities in parallel.
IBM can provide a new dimension in computing for financial institutions. (1) Management integration, (2) Multi-platform integration, (3) Stack integration.
The document discusses governance, risk management, and compliance (GRC). It defines GRC and explains why it is important for organizations. It then discusses how collaboration can help in a GRC world and provides perspectives on GRC from functional roles like the chief legal officer, chief risk officer, and chief information security officer. The document presents IBM's GRC framework and reference architecture. It is intended to outline IBM's general product direction but plans are subject to change.
This document provides an overview of Riskpro, an organization that offers risk management consulting services to mid-large sized companies in India. It has offices in Mumbai, Delhi, and Bangalore, and alliances in other cities. Riskpro focuses on governance, risk, and compliance solutions. It identifies several key risks for the ITES/BPO/KPO industry, such as high attrition, data security issues, and regulatory non-compliance. The document then outlines Riskpro's service offerings to address these risks, including process reviews and improvements, risk assessments, training programs, and knowledge management solutions.
This document provides an overview of Riskpro, an organization that offers risk management consulting services to mid-large sized companies in India. It has offices in Mumbai, Delhi, and Bangalore, and alliances in other cities. Riskpro focuses on governance, risk, and compliance solutions. It identifies several key risks for the ITES/BPO/KPO industry, such as high attrition, data security issues, and regulatory non-compliance. The document then outlines Riskpro's service offerings to address these risks, including process reviews and improvements, risk assessments, training programs, and knowledge management solutions.
RISKPRO INDIA
• Riskpro is India’s first national practice dedicated to risk management services and training, corporate governance, and global regulatory compliances
• Risk can be defined as a prospect of loss or reduced gain that can adversely affect the achievement of an organisation’s objectives
• When greed overtakes need, it spells trouble. Manifested as ‘bankruptcy’ in much of the developed world and ‘corruption’ closer to home, greed has clearly disrupted some major industrialised economies and enhanced the risks of doing business
• In today’s world, risks are not few. The reason companies so often fail to systematically manage their key risks is rooted in the way they define the risks they face. Risks are manageable and the answer to untapped business opportunities that lie dormant waiting for risk factors to turn favourable
• Riskpro was founded in 2009 with offices in Mumbai, Delhi, and Bangalore and it has already added eight member firms in Ahmedabad, Agra, Chennai, Gurgaon, Hyderabad, Jaipur, Ludhiana, and Pune. All our offices and member firms are well equipped and staffed with qualified professionals viz. CA, CWA, CS, CPA, CIA, CISA, CFA, and MBA
• Riskpro’s founders are qualified risk management specialists with extensive work experience in Europe and USA in several industries and financial institutions
• Riskpro aims to be the preferred service provider for large and medium enterprises on risk protection, corporate governance, and global regulatory issues; delivering state-of-the-art quality and timely services at viable rates
RISKPRO SERVICES
• Our four major practice specialisations /service lines are:
Risk: Enterprise Risk Management (services and training & recruitment)
Governance: Corporate Governance and Transparency
Compliance: Global and Indian Regulatory Compliances
Training: in all of the above service lines
• The Risk Practice deals with all classes of risks and processes viz. governance, strategic, systemic /infrastructure, compliance, reporting, and financial reporting. Processes require that key risks are properly identified, measured, monitored, controlled, and reported. Processes may also require tools like risk based internal audit, information security testing, and fraud investigations, to be employed
• The Governance Practice deals with corporate oversight and risk governance issues within an organization including business continuity planning, compliance with SEBI guidelines by listed companies, regulations relating to independent directors, investor expectation and protection, Clause-49 on corporate governance, etc
• The Compliance Practice covers a wide range of regulatory and environmental compliances including Sox, IFRS, Solvency II, Basel II /III, Corporate Laws & Direct Tax Code etc
• The Training Practice comprises of a variety of structured and /or industry specific training programs and modules designed and conducted by Riskpro experts and trainers at onsite (client or other off
Riskpro provides enterprise risk management advisory services including Basel II/III advisory, corporate risks advisory, information security advisory, and operational risk advisory. It has offices in Mumbai, Delhi, and Bangalore and alliances in other cities. Riskpro is managed by experienced risk professionals and offers services such as risk assessments, internal audits, compliance reviews, and training. It aims to provide integrated risk management solutions to mid-large sized companies in a timely and cost-effective manner.
ERP Logic is an ERP implementation, consulting, and technology services company. They offer a range of services including assessment and re-engineering, implementation and upgrades, application management, on-demand consulting, and custom development to help clients navigate their ERP lifecycle. Their goal is to help clients maximize ROI, minimize total cost of ownership, and ensure seamless integration of IT and business strategies.
Get Ready for Solvency II with Oracle's Hyperion Profitability and Cost Manag...Alithya
Organisations today are preparing for the Solvency II regulatory requirements by looking at the controls, processes, and methodologies involved with their various accounting, finance, and reporting functions, and making provisions to simplify, standardize, and wherever possible, automate. Ranzal Vice President and Oracle ACE, Mike Killeen provides an overview of HPCM and discuss how companies can leverage the tool for the Solvency II requirements. This presentation is for the UK market.
The document discusses SunGard Global Services, a provider of business consulting, technology, and professional services. It focuses on SunGard's offerings to financial services, energy, and corporate sectors. Key points include SunGard's history and size, global delivery model leveraging 5,000+ employees worldwide, and services across business consulting, technology consulting, and managed services.
This document summarizes the benefits of server virtualization using VMware software. It discusses how VMware allows organizations to [1] reduce IT costs through server consolidation and increased efficiency, [2] improve control over infrastructure through features like live migration and high availability, and [3] choose flexible deployment options both on-premises and in the cloud. Customer case studies are provided showing typical cost savings of over 50% through virtualization. VMware is presented as the proven leader in virtualization providing the highest ROI and strategic investment in a tough economic environment.
This presentation provides an overview of the COBIT framework for IT governance and control. It is designed for academic courses covering topics like information systems management, information security management, auditing, and accounting information systems. The presentation introduces the driving forces behind IT governance and control, an overview of the COBIT framework, and how COBIT maps to other relevant standards and frameworks.
The document discusses auditing IT compliance and governance. It introduces CobIT, an IT governance framework that can be used to manage IT risks and compliance. CobIT provides over 300 control objectives that help ensure business objectives are met and undesired events are prevented or detected. The document outlines how CobIT can be used to design, implement, assess, and monitor an organization's IT compliance program.
SilverStorm "Credibility and Collaboration to achieve excellence in IT Govern...SilverStormSolutions
"Credibility and Collaboration to achieve excellence in IT Governance"
So how are we at SilverStorm helping CIO´s Transform IT?
For us it´s simple, Transforming IT means raising the credibility of IT to gain the collaboration of others throughout the organization.
The first step: Increase “CREDIBILITY”.
The second step: Increase “COLLABORATION”.
Without “Credibility” there can never be “Collaboration”
We are helping our customers achieve measurable benefits by combing processes, people and technology.
The document discusses IT governance, defining it as the processes and relationships that lead to reasoned decision-making in IT. It covers key topics around IT governance including the definition, principles, decisions, processes, and mechanisms. The document is presented as part of an agenda on IT governance best practices and is intended to provide an overview of the topic for attendees.
This introduction to Strategic Agility summarizes insights for the necessity to change business practices to succeed in a world where competitive advantages are now fleeting.
Why IT Governance is a powerful business tool. Evaluating the potential for value creation –
the Governance Scorecard. Using the Scorecard to improve IT integration.
The document outlines an enterprise architecture plan for Child-Wear, a children's clothing manufacturer. It includes a vision, mission, organizational structure, key stakeholders and systems, as well as an analysis of current strengths, weaknesses, opportunities, and threats. Gaps in existing systems are identified and an approach is outlined to address the gaps, including consolidating systems, integrating systems, allowing online ordering, and collaborating with suppliers. An information architecture with standard data elements and access controls is also proposed.
The document discusses the eDiscovery market and opportunities for emerging eDiscovery vendors. It notes that the market is shifting from a reactive, case-driven model to a more proactive approach focused on enterprise compliance. For emerging vendors to succeed, they need scalable technology and the ability to integrate with broader content management and information governance initiatives. The document also analyzes acquisition trends that see global software firms acquiring specialized eDiscovery vendors to fill gaps and gain expertise in this growing market segment.
Enpower Process Consultants Pvt. Ltd. is an alternative to large management consulting firms that provides services to assist clients in building high performance businesses. It has expertise in areas such as IT, energy, environment, and human resources and utilizes best practices and frameworks to identify challenges, design solutions, and implement improvements for its clients.
The document discusses operationalizing service-oriented architecture (SOA). It recommends integrating development and operations to improve service quality. It also recommends building an SOA architecture with a vision for the future, focusing on SOA management best practices from past projects, and taking an exemplary project approach that runs functional and operational activities in parallel.
IBM can provide a new dimension in computing for financial institutions. (1) Management integration, (2) Multi-platform integration, (3) Stack integration.
The document discusses governance, risk management, and compliance (GRC). It defines GRC and explains why it is important for organizations. It then discusses how collaboration can help in a GRC world and provides perspectives on GRC from functional roles like the chief legal officer, chief risk officer, and chief information security officer. The document presents IBM's GRC framework and reference architecture. It is intended to outline IBM's general product direction but plans are subject to change.
This document provides an overview of Riskpro, an organization that offers risk management consulting services to mid-large sized companies in India. It has offices in Mumbai, Delhi, and Bangalore, and alliances in other cities. Riskpro focuses on governance, risk, and compliance solutions. It identifies several key risks for the ITES/BPO/KPO industry, such as high attrition, data security issues, and regulatory non-compliance. The document then outlines Riskpro's service offerings to address these risks, including process reviews and improvements, risk assessments, training programs, and knowledge management solutions.
This document provides an overview of Riskpro, an organization that offers risk management consulting services to mid-large sized companies in India. It has offices in Mumbai, Delhi, and Bangalore, and alliances in other cities. Riskpro focuses on governance, risk, and compliance solutions. It identifies several key risks for the ITES/BPO/KPO industry, such as high attrition, data security issues, and regulatory non-compliance. The document then outlines Riskpro's service offerings to address these risks, including process reviews and improvements, risk assessments, training programs, and knowledge management solutions.
RISKPRO INDIA
• Riskpro is India’s first national practice dedicated to risk management services and training, corporate governance, and global regulatory compliances
• Risk can be defined as a prospect of loss or reduced gain that can adversely affect the achievement of an organisation’s objectives
• When greed overtakes need, it spells trouble. Manifested as ‘bankruptcy’ in much of the developed world and ‘corruption’ closer to home, greed has clearly disrupted some major industrialised economies and enhanced the risks of doing business
• In today’s world, risks are not few. The reason companies so often fail to systematically manage their key risks is rooted in the way they define the risks they face. Risks are manageable and the answer to untapped business opportunities that lie dormant waiting for risk factors to turn favourable
• Riskpro was founded in 2009 with offices in Mumbai, Delhi, and Bangalore and it has already added eight member firms in Ahmedabad, Agra, Chennai, Gurgaon, Hyderabad, Jaipur, Ludhiana, and Pune. All our offices and member firms are well equipped and staffed with qualified professionals viz. CA, CWA, CS, CPA, CIA, CISA, CFA, and MBA
• Riskpro’s founders are qualified risk management specialists with extensive work experience in Europe and USA in several industries and financial institutions
• Riskpro aims to be the preferred service provider for large and medium enterprises on risk protection, corporate governance, and global regulatory issues; delivering state-of-the-art quality and timely services at viable rates
RISKPRO SERVICES
• Our four major practice specialisations /service lines are:
Risk: Enterprise Risk Management (services and training & recruitment)
Governance: Corporate Governance and Transparency
Compliance: Global and Indian Regulatory Compliances
Training: in all of the above service lines
• The Risk Practice deals with all classes of risks and processes viz. governance, strategic, systemic /infrastructure, compliance, reporting, and financial reporting. Processes require that key risks are properly identified, measured, monitored, controlled, and reported. Processes may also require tools like risk based internal audit, information security testing, and fraud investigations, to be employed
• The Governance Practice deals with corporate oversight and risk governance issues within an organization including business continuity planning, compliance with SEBI guidelines by listed companies, regulations relating to independent directors, investor expectation and protection, Clause-49 on corporate governance, etc
• The Compliance Practice covers a wide range of regulatory and environmental compliances including Sox, IFRS, Solvency II, Basel II /III, Corporate Laws & Direct Tax Code etc
• The Training Practice comprises of a variety of structured and /or industry specific training programs and modules designed and conducted by Riskpro experts and trainers at onsite (client or other off
Riskpro provides enterprise risk management advisory services including Basel II/III advisory, corporate risks advisory, information security advisory, and operational risk advisory. It has offices in Mumbai, Delhi, and Bangalore and alliances in other cities. Riskpro is managed by experienced risk professionals and offers services such as risk assessments, internal audits, compliance reviews, and training. It aims to provide integrated risk management solutions to mid-large sized companies in a timely and cost-effective manner.
ERP Logic is an ERP implementation, consulting, and technology services company. They offer a range of services including assessment and re-engineering, implementation and upgrades, application management, on-demand consulting, and custom development to help clients navigate their ERP lifecycle. Their goal is to help clients maximize ROI, minimize total cost of ownership, and ensure seamless integration of IT and business strategies.
Get Ready for Solvency II with Oracle's Hyperion Profitability and Cost Manag...Alithya
Organisations today are preparing for the Solvency II regulatory requirements by looking at the controls, processes, and methodologies involved with their various accounting, finance, and reporting functions, and making provisions to simplify, standardize, and wherever possible, automate. Ranzal Vice President and Oracle ACE, Mike Killeen provides an overview of HPCM and discuss how companies can leverage the tool for the Solvency II requirements. This presentation is for the UK market.
This document summarizes information about simplifying IT governance, risk management, and compliance (GRC). It discusses how GRC has become central to organizational strategies and how investment in GRC platforms and tools in the US reached $32 billion in 2008. It provides definitions for governance, risk management, and compliance. It also outlines some key areas of concern for GRC and how Microsoft's System Center Service Manager 2010 and IT Compliance Management Library products can help organizations address GRC requirements and regulations.
Leveraging Business Rules in TIBCO BusinessEventsTim Bass
Leveraging Business Rules in TIBCO BusinessEvents, TIBCO, TUCON 2007, Tim Bass, Principal Global Architect, Director Emerging Technologies Group TIBCO Software Inc.
The document discusses advanced financial controls in Oracle's R12 system. It describes how advanced controls augment standard ERP controls, bridge the gap between policy creation and transaction systems, and automate policy enforcement to deliver business process efficiency across multiple systems. Specific processes that would be impacted include financial close and reporting, order to cash, procure to pay, and travel and expense. Types of automated controls include segregation of duties, application configuration, and transaction monitoring.
Watch the Webinar >> http://bit.ly/QlKgU0
The Cloud Agenda for Finance:
The Evolving Market for Core Financial Applications & Technologies
Join guest speaker Paul Hamerman of Forrester Research, Inc., for this special webinar as he discusses the key trends and challenges for core Financial Management applications and technologies, and the accelerating shift from traditional ERP financials to cloud-based alternatives.
Attendees will learn about the following:
- Key trends and challenges for 2012 in the Financial Management technology market.
- Recent accelerating shift from traditional ERP financials to cloud-based alternatives.
- Barriers companies typically face when thinking about the cloud/SaaS and how they are being mitigated.
- Financial Management innovation and technologies offered by Workday for enabling increased agility, insight, and control.
About Workday
Workday is the leader in enterprise-class, Software-as-a-Service (SaaS) solutions for managing global businesses, combining a lower cost of ownership with an innovative approach to business applications. Founded by PeopleSoft veterans Dave Duffield and Aneel Bhusri, Workday delivers unified Human Capital Management, Payroll, and Financial Management solutions designed for today's organizations and the way people work. Delivered in the cloud leveraging a modern technology platform, Workday offers a fresh alternative to legacy ERP. More than 280 customers, spanning medium-sized organizations to Fortune 50 businesses, have selected Workday. Visit us at www.workday.com.
This document discusses how financial services firms are converging their finance, risk, compliance and treasury functions in response to regulatory pressures and market changes. It outlines trends driving this convergence, including increased complexity, competition and regulatory uncertainty. Firms must ensure financial and strategic decisions minimize risk exposure and consider impacts on customers, transactions and investments. The document also examines priorities firms are investing in, such as risk management and compliance, and how better integrating data and perspectives across divisions can help optimize goals around profitability and risk management. Examples of scenarios where converged information strategies could help with regulatory reporting and capital adequacy assessments are also provided.
The document provides an overview of ERP systems and their relevance for manufacturing industries. It discusses Velcom, an ERP consulting company, and the services they provide. The key benefits of ERP systems for manufacturers include streamlining processes, improving visibility and decision making, enhancing customer satisfaction, and reducing costs. Common challenges include limited customization and high switching costs once established. The document outlines the project phases and critical success factors for successful ERP implementation.
Val Lunz of NASA Goddard Space Flight Center presented best practices for enhancing the Capital Planning Investment Control (CPIC) framework to optimize business portfolio analysis. The CPIC provides a framework to strategically assess IT assets and prioritize investments. Managing the portfolio through sub-portfolios of similar investments and streamlining processes can maximize returns and leverage existing resources. Continuous evaluation and stakeholder involvement are also important to ensure the appropriate investments are selected and controlled in the current fiscal environment.
This document provides an overview of ERP systems and their relevance for manufacturing industries. It discusses Velcom, an ERP consulting firm, and the services they provide. The key benefits of ERP for manufacturing include automating processes, responding quickly to changes, improving decision making, enhancing customer satisfaction, and gaining supply chain visibility. Common challenges include limited customization and high switching costs. The document also reviews ERP ROI studies and implementation best practices.
7 Mistakes of IT Security Compliance - and Steps to Avoid ThemSasha Nunke
The document discusses 7 common mistakes made in IT security compliance including: decentralized policy management, failing to establish a common definition of compliance, treating compliance as a tactical issue rather than strategic, failing to test solutions before implementing them, seeing audits as a nuisance, lacking buy-in from administrators, and being unaware of hidden costs of compliance solutions. The document provides examples and effects of each mistake and recommends centralizing policy management, establishing common definitions, taking a strategic approach, thorough testing, viewing audits positively, gaining administrator support, and understanding total solution costs.
An organization can achieve more efficient governance, risk, and compliance (GRC) through process automation using GRC software. Currently, many organizations struggle with fragmented and inefficient GRC efforts due to using multiple point solutions and manual processes. Implementing an integrated GRC platform can help organizations improve controls, enhance visibility into financial and operational data, improve reporting, and better manage risks and compliance activities. The article recommends starting with a focused implementation of a GRC platform to address a specific regulation in order to see tangible benefits and establish competence with the system before expanding its use.
This document summarizes a presentation given by Kenneth L. Mullins on relating enterprise strategy to business outcomes. It discusses three important ingredients for doing so: performance management, portfolio management, and program/project management. It then provides examples and considerations for transforming an enterprise, making investment decisions, and assessing value and return on investment for government projects and initiatives.
This whitepaper discusses quantifying soft cost savings from implementing a vendor management system (VMS) or managed services program (MSP) for contingent workforce management. Soft savings include efficiency gains, reduced risks and legal liabilities, improved quality, and other benefits. The paper provides two methods for unearthing tangible elements of soft savings: 1) Identifying the nearest related tangible benefit and quantifying associated cost/revenue drivers, and 2) Examining the chain of actual measures leading to the end benefit and quantifying each step. Implementing an effective VMS/MSP program can result in total savings of 10-25% of spend within the first 18-24 months through both hard and soft savings.
The document discusses general definitions, scope, goals, benefits, and current and desired processes for IT asset management. Specifically, it defines IT asset management as the set of practices that support the lifecycle of IT assets from a financial, contractual and inventory perspective. It outlines that the current process involves manual data collection from different departments in various formats, which is difficult to compile. The desired outcome is an integrated enterprise solution that provides inputs for reporting, governance, financial planning, and supports the full lifecycle of assets from procurement to retirement while ensuring compliance. It concludes by posing questions to help define the proper focus, approach and stakeholder involvement for developing an improved asset management program.
The document provides an overview of the company Aufait Today. Some key points:
- Aufait Today is an IT solutions provider based in Calicut, Kerala, India with over 40 employees. It has expertise in domains like CRM, BPM, and portals.
- The company uses a business process management approach and Intalio BPMS software to help customers implement flexible and agile solutions. This allows customers to adapt quickly to changes.
- BPM involves modeling business processes, deploying solutions using a process engine, and continuously optimizing processes using analytics and process improvement methods. Aufait helps customers with all aspects of BPM.
1. Risk Advisory Services
02/26/2008
From Compliance to Competitive
Edge
The Paradigm Shift to Improve
Leveraging Risk Investments
Business
2. Agenda
The Current State
Navigating Through The Confusion
What We Are Hearing About Risk
The Current State
Market Challenges
Costs and Budgeting
Risk Convergence
A Fresh Look At The “Internal Controls”
Maximizing The Role of IT In Compliance
Leading IT Practices In Successful Organizations
1
4. Standards? What Standards?
"The nice thing about standards is
that there are so many of them to
choose from.”
– Andrew S. Tannenbaum
3
5. Navigating Through the Confusion
Regulators
SEC EEOC OSHA FRC
Frameworks
NASD/N PCAO EPA FTC
YSE B DOJ PTO
IRS COSO
DHS
EBSA COSO
Business Drivers and Initiatives
ERM Logical and
Asset Earnings and
Revenue and Reputation OCEG
and Capital
Management
Operating
Margins
Market Share and Brand Coordinated
COBIT Process
Section 404 IFRS Environmental USSG
CFO Act E-Gov Act and Social
OMB A-123 IP—Protection Product Liability ISO
FMFIA Laws Laws
HIPAA Tax Regulations 1933 and 1934 CSR
Anti-Money Securities Act
American **Frequently-used examples
Productivity and Laundering Laws Anti-Trust Act
Quality Center Supply Chain Software
(APQC) Council (SCOR) Engineering
Laws, Institute (Capability
Regulations, and Model)
Maturity
Standards
Ever-increasing Laws, Regulations, and Standards, and Multiple
Frameworks
4
6. Now Consider This Example:
Nicole is an equity division manager in global bank
The work day has barely begun
Discovered that a recent spike in trading volume has jolted the firm’s
trading platform resulting in a multitude of trade breaks and delayed
executions
She checks her e-mail and sees a barrage of requests to provide risk
information to various departments
Compliance department wants an urgent meeting to discuss its plan
to conduct several business reviews during the year
IT risk unit has sent a questionnaire on business continuity planning
and data security
Internal audit is asking to review its risk assessment of her business
and agree to four audits of her group in the next 12 months
How can Nicole effectively increase the top line if she is hampered by
inefficient business processes?
5
7. What We Are Hearing About Risk
Keep Us Out of Trouble Make Our Business
Growing Number
Better Inter-Agency
Coordinated
Bigger Fines
of Restatements Sales Activities- Coordination
and
Changes in
Compliance
Settlements
goal Services,
Software and
Hardware
& Focus On
Core Mission
Continuing Regulations Optimized
Defense of Effective Use
Funding Of Relevant Controls of Technology
Projects Intellectual Research
Property &
Option Decrease
Developm Cost of Accessing
Backdating entSpend Emerging
Corporate
Compliance Markets
OMB Just-In-Time
Catastrophic Management Activities Optimized
Inventory
Reputational Watch List & Management Improved Risk Governance
Consequences GAO High Risk Reporting and Structure/Program
List Disclosure Performance
All too confusing and Must do it…
overdone… Except when But how do we do it
we get in trouble better?
6
9. Top Challenges: Six challenges dominate senior
management agendas
Category Includes
Improving Achieving greater efficiencies in risk and control
efficiency/Program processes; inter-agency coordination; improving
Performance coordination; unifying and streamlining approaches
Challenging Shifting regulatory demands, high degree of
regulatory regulatory scrutiny, variation of regulations across
environment with
Keeping pace jurisdictions.
Rapid business growth, competitive intensity, M&A
business growth and activity, global expansion, increasing product
complexity complexity, raised customer expectations
Attracting and Shortage of good talent in competitive markets,
retaining especially in specialized areas or emerging
talent/Human capital geographies
crisis
Managing change Dealing with people and organizational issues as
new processes demand new methods of work
Fear of compliance Fear of compliance failures despite best efforts, due
failures and to human error or unanticipated events; identifying
emerging risks and preparing for future risks
8
10. Top Challenges: Improving efficiency is the
leading
concern for all respondents followed by
regulatory issues PERCENT RESPONDING – ALL RESPONDENTS
Improving efficiency 50%
* Challenging regulatory
environment/ 30% 13%
Implementing Basel II
Keeping pace with
business growth & 30%
complexity
Attracting & retaining
talent
20%
Managing change 20%
Fear of compliance
failure
17%
Identifying emerging
13% * The dark bar represents those respondents who mentioned general regulatory
risks
challenges; the light bar represents those respondents who specifically cited Basel II
implementation
9
11. Challenge #1: Inefficiency is acting as a
“drag on the system”
There is unanimous recognition that rapid growth of
business – mergers, global expansion – together
with SOX and the complex regulatory environment,
have resulted in inefficient structures, and
redundant systems and processes
There is an extremely high desire to fix this problem
10
12. Challenge #2: There is a growing
frustration with regulators
Respondents see no letup in the regulatory
environment – Sarbanes Oxley, Basel, privacy,
HIPAA, IFRS, Anti-money Laundering etc., etc…
Organizations are pushing back
11
13. Challenge #3: Keeping pace with
business growth and complexity
The requirement for speed to market creates pressure
on all types of fronts, from credit and market risk
related approvals to compliance or regulatory or legal
approvals
How do we do our part to support revenue
growth and the growth of our company and
have the proper risk/reward balance?
There is a proliferation of new products
which are becoming increasingly sophisticated
12
14. Challenge #4: The complex
environment is driving the need to
attract and retain talent
Definitely a major concern for the leadership
Good talent is hard to find
Competition for talent is intense, and the supply of
risk professionals is not keeping up with demand
13
15. Challenge #5: Dealing with people and
organizational change issues is
daunting
Inefficiencies, the complex regulatory and business
environment, and the shortage of talent, are stressing
current systems and driving demand for more robust
solutions
“Moving the supertanker” requires a common
understanding of risk and control procedures across the
enterprise, senior management buy-in, and clear
definitions of roles
People’s natural resistance to change is a constant
struggle
14
16. Challenge #6: Identifying emerging risks
and fear of compliance failures keep
many respondents up at night
Despite significant investments, many
acknowledge they continue to worry about
breaches in compliance due to human error,
regulatory surprises, or unknown emerging risks
– “We operate in so many different jurisdictions, in 50 countries, and
with various different products. We have about 130,000 employees.
And if you think that everybody is doing everything they should, the
way they should be doing it, you know that's not happening.”
- Head of Internal Audit, Commercial Bank
15
18. Costs and Budgeting: Half of all
respondents believe costs will continue to
rise; the other half see costs stabilizing
ALL RESPONDENTS
Increasing 48% Reasons cited include:
Continued business
growth and global
expansion
Decreasing 21%
Rigorous regulatory
environment
Need for more
Staying the same 25% expensive senior talent
Don't know 7%
17
19. Costs and Budgeting: Very few can estimate
time
business spends on risk and control
management
Most feel that time spent in the business units is too
embedded to track
Time spent depends on the job and the type of
business
– “Our industry is plagued with this: we don’t have a good
understanding of what our key processes are and we don’t
have the ability to measure our unit costs. If you went to
Toyota or Coca Cola, they have a whole science, but when
you ask about processes here people look at you as if you
were speaking Swahili.”
- Head of Operational Risk, Commercial
Bank
18
20. Top Challenges: Six challenges dominate
senior
management agendas
Category Includes
Improving efficiency Achieving greater efficiencies in risk and control
processes; improving coordination; unifying and
Challenging streamlining approaches
Shifting regulatory demands, high degree of
regulatory regulatory scrutiny, variation of regulations across
environment with
Keeping pace jurisdictions.
Rapid business growth, competitive intensity, M&A
business growth and activity, global expansion, increasing product
complexity complexity, raised customer expectations
Attracting and Shortage of good talent in competitive markets,
retaining talent especially in specialized areas or emerging
Managing change geographies
Dealing with people and organizational issues as
new processes demand new methods of work
Fear of compliance Fear of compliance failures despite best efforts, due
failures and to human error or unanticipated events; identifying
emerging risks and preparing for future risks
19
21. Now Consider This Example:
Nicole is an equity division manager in global bank
The work day has barely begun
Discovered that a recent spike in trading volume has jolted the firm’s
trading platform resulting in a multitude of trade breaks and delayed
executions
She checks her e-mail and sees a barrage of requests to provide risk
information to various departments
Compliance department wants an urgent meeting to discuss its plan
to conduct several business reviews during the year
IT risk unit has sent a questionnaire on business continuity planning
and data security
Internal audit is asking to review its risk assessment of her business
and agree to four audits of her group in the next 12 months
How can Nicole effectively increase the top line if she is hampered by
inefficient business processes?
20
23. What Is Risk Convergence?
Common framework to assess and monitor the
organization’s risks:
Reduce redundant risk management and control activities
Eliminate duplication among business units
Drive down costs
22
24. Why Risk Convergence??
“It is not the strongest of the species that survives, nor the
most intelligent, but the one most responsive to change.”
— Charles Darwin
23
25. Why Risk Convergence??
Standard & Poor’s, Moody’s and other credit-rating agencies measure an
Enterprise Risk Management program as a lead risk indicator and a major
scoring factor.
Standard & Poor’s credit rating
Challenging to determine management capability and capacity to
manage risk
Proposal to introduce enterprise risk management analysis into the
corporate debt rating process
24
26. Why Risk Convergence - Aligning to Your Business
Drivers
Keep Us Out of Trouble/Make the Business Better
Maintaining strong ethical tone at the top
Reputation and Brand Protecting and defending intellectual property
Do our stakeholders rights
have a favorable view? Managing customer and employee
information, e.g., privacy
concerns
Organizing regulatory compliance/governance
in an efficient manner
Revenue and Asset and
Market Share business Capital Management
How does the How efficient
organization grow? drivers is the organization?
Entering new markets— Improving inventory and
particularly emerging markets receivable management
Prioritizing R&D spend to Earnings and Coordinating supply
ultimately align with customer chain/lean manufacturing
needs
Operating Margins Integrating global processes
How profitable is and IT systems
Integrating large scale
acquisitions the organization? Using finance arrangements
Simplification of multi-element Maintaining gross margins through new to access new markets
sales, e.g., software, product introductions
hardware and services Improving operating margins
Channel management Managing warranty terms and product
returns
Managing third-party contractor
relationships
25
27. Why Risk Convergence??
Mitigate risk
Despite significant investments, compliance failures continue to
represent a major threat – both monetary and reputational
Streamlining risk and control operations reduces compliance gaps
and enables more effective ongoing risk management
Increase efficiency / reduce costs
Streamlining risk and control programs and processes reduces the
enormous time commitments and frustration levels throughout the
organization, and ultimately will result in better cost management
and control
Support strategic decision-making
Greater coordination and information sharing among corporate
control units and business units provides senior management and
board committees with more effective multi-dimensional risk
information that supports decision-making
26
28. State of Convergence: All
organizations are underway with some
form of convergence
Terminology may vary, but all understand the concept of
streamlining governance, risk and control processes
Each organization is forging its own way, based on
culture, business imperatives, appetite for change, and
regulatory history
Most are in the early stages and the majority of activities
are driven by short-term objectives
27
29. State of Convergence: There are no best
practices
There are some organizations that are fairly far
down the path, however, no one considers
themselves ‘converged’
Currently there are no best practices or
established methodologies
Most convergence activities are being led by the
CFO, CRO, or the head of one or two functions
28
30. State of Convergence: Efficiency is the
primary
driver of convergence
Desire for greater efficiency is the main driver for
risk convergence
Reducing risk fatigue in the business units is
considered but this has eased since the early
SOX days
Surprisingly, cost reduction is not a major driver
29
31. State of Convergence: Convergence is
evolutionary
not revolutionary are addressing convergence in
Most organizations
incremental stages
The appetite for a massive enterprise
transformation is low
30
32. State of Convergence: People issues
are the primary barriers to convergence
Overcoming people’s natural resistance to, and fear
of, change is the biggest obstacle to convergence
• “People don’t like converging. In their minds it tends to dilute their
efforts. If it is a significant risk to them, they want and demand the
resources to deal with it.”
- CRO, Commercial Bank
31
33. State of Convergence: Convergence is
creating a need for more senior talent
As convergence initiatives begin to reduce redundancies
and inefficiencies, organizations are finding that they need
more senior talent and less junior staff
This represents a major shift in the skill base and
exasperates the shortage of talent in the industry
32
35. The Path to Convergence
While there is not one clear
approach to convergence, Convergence
companies are following somewhat Technology
institutionalized
options
similar paths implemented
Roles and
Methodologies responsibilities
aligned redefined
Implementation
Redundancies
being Reporting
addressed streamlined
Integration Phase
Groups Owner identified
interacting and committee
formed
Alignment Phase
Vision
defined Coordination Phase
Sophistication
34
36. The Path to Convergence
Most respondents are in
“Coordination Phase” Convergence
institutionalized
Technology
options
implemented
Roles and
Methodologies responsibilities
aligned redefined
Implementation
Redundancies
being Reporting
addressed streamlined
Integration Phase
Groups Owner identified
interacting and committee
formed
Alignment Phase
Vision
defined Coordination Phase
Sophistication
35
37. The Path to Convergence
As organizations make
progress in reducing Convergence
institutionalized
redundancy, they begin to Technology
options
tackle more difficult aspects implemented
of efficiency improvement Roles and
Methodologies responsibilities
aligned redefined
Implementation
Redundancies
being Reporting
addressed streamlined
Integration Phase
Groups Owner identified
interacting and committee
formed
Alignment Phase
Vision
defined Coordination Phase
Sophistication
36
38. The Path to Convergence
Even for those furthest along the
convergence path, redefining roles, Convergence
implementing new technologies, and Technology
institutionalized
options
embedding new practices remains a implemented
goal
Roles and
Methodologies responsibilities
aligned redefined
Implementation
Redundancies
being Reporting
addressed streamlined
Integration Phase
Groups Owner identified
interacting and committee
formed
Alignment Phase
Vision
defined Coordination Phase
Sophistication
37
39. Risk Convergence Evolution - A Fresh Look at
the “Internal Controls”
Effective internal control environment means:
The company is working and performing well
Communicates performance to capital markets and
investors in a transparent manner
Note: Transparency and certainty over risk and internal
controls in strategic, operational and financial reporting
areas
Management understand major risks and has processes in
place to address/mitigate these risks
Changing perception of Internal Controls
From being viewed as “burdensome” to “strategic
information” for driving business decisions
38
40. Do the current internal controls
investments provide the following
business benefits?
39
41. Aligning Internal Control Investment with Risk
Assessment
How frequently does the company conduct an enterprise
risk assessment?
40
43. Room for improvement?
How effective are internal controls over the following
financial reporting areas?
42
44. How effective are internal controls over the
following business and operational areas?
43
45. How effective are internal controls over
the following information technology
areas?
44
46. Where are Leading Companies Investing?
What are the key business drivers justifying future
investments to strengthen internal controls?
45
47. Better Understanding of Major Risk Areas
What is the impact and probability of your top strategic risks?
Key Strategic Risks
Key Strategic Risks
Major
Inefficient management of contract
Loss of ability to
achieve any strategic
manufacturer relationship (e.g. – lead
objectives-worst case times, variance accounting, etc.)
Inefficient JIT inventory management
(e.g. – balancing with customer
Significant demand)
Significantly reduced
ability to achieve all Delays in new product development
strategic objectives
Uncertainty due to increased off-
shoring and business process
Impact
Moderate
Disruption to achievement of outsourcing
one strategic objective and
reduced ability to conduct International expansion/emerging
normal operations
market penetration
Minor
Intense competition in mature product
Minimal disruption to one
strategic objective and some
lines
impact on ability to conduct
normal operations Price/gross margin erosion
Insignificant Cost/operating expense management
No impact on strategic Intellectual property protection and
objectives and only
limited disruption to defense
normal operations
Remote Unlikely Likely Highly Likely Expected Large scale mergers and acquisitions
less than 10% Between Between Between Over 75%
chance of 11 - 20% chance 21-50%% 51-75% chance of Multi-element sales contract
occurrence of occurrence chance of chance of occurrence
occurrence occurrence simplification and revenue recognition
Probability
46
48. Making the Business Better
Investing in a Comprehensive Control Environment
strategic
value
Controls Automation
& Continuous
Controls Monitoring operations
Process &
Controls
efficiency
Improvement
Top-Down Risk
Assessment financial
& Scoping
Risk Convergence-
Risk Based Consistent
Testing & Risk & Control
Evaluation
Framework
Optimization & compliance
Standardizatio
n
of Controls Coverage of Fraud
Leveraging Risk & Controls
Monitoring Controls
cost investment
47
49. Maximizing The Role of IT in
Compliance Management
Enterprise Risk
IT Integration
Continuous Controls Monitoring/ Controls Automation
Segregation of Duties
Change Management
Super User Access Rights – Identity and Access
Management
Application Controls
Tools and Technologies – Seamless integration of disparate
sources of information
Sophisticated Data Analytics
48
50. Continuous Controls Monitoring
Another strategy for improving efficiency using IT
Automates the monitoring of financial and operational controls
at the entity and transaction levels
Maximizing the full capabilities of the IT investment to control
the flow of transactions and significantly leveraging these
capabilities for the operating effectiveness of internal controls
Focused on application controls, segregation of duties,
transactional data analysis, and IT general controls
49
51. How do Companies Assess?
Audit
Audit
In the Past…
Audit • Point in Time Audits
High • Reactive
• Random
• Sampling
• Generic
Business Moving Forward…
Risk Continuous
Continuous Proactive
Monitoring Comprehensive
Integrated
Low Business Specific
Time
50
52. Leading IT Practices in Successful
Organizations
Three overarching principles seen in successful
organizations
Risk Management
Manage the risk of IT
Leverage IT investments to reduce other risks that
organization may face
Cost Rationalization
Rationalize the cost of IT
Leverage IT investments to rationalize costs
elsewhere in the organization
Value Creation
Increase the strategic and operational value being
created for the business by IT
51
54. Leading IT Practices in Successful
Organizations
Four distinct traits seen in successful organizations
1. Strategic Alignment:
Viewing IT as strategic commitment vs. a utility
activity
Viewing IT functions as technological
framework which coordinates information,
decision making, management and strategy
Achieved through executive sponsorship
and linking IT to major processes and
initiatives
53
55. Leading IT Practices in Successful
Organizations
Four distinct traits seen in successful
organizations
2. Effective Governance
Achieve formal implementation of IT
Governance
Representation at Board of Directors
meeting
Achieved through risk and resource
management, board attention, use of leading
standards
54
56. Leading IT Practices in Successful
Organizations
Four distinct traits seen in successful organizations
3. Efficient Operations
Strategically utilize IT for revenue generating and cost
saving objectives
This may include consolidating/standardizing IT
functions
Achieved through revenue generating
enhancements, reduction in service delivery
costs, strategic and planned approach to IT
function
4. Measured Performance
Facilitating strong realization of company’s
performance through reporting/assessments
55