FSCP Solutions Inc.
Solutions for the Finance User
Process ownership entails the knowledge and vision of the current complex business throughout the enterprise and the systems supporting it. This means
¨ a complete understanding of the processes; and
¨ ability to adapt and incorporate changing business needs
The first role leads to the second, because ability to swiftly address changing requirements is possible only if the process is owned and fully understood.
This leads to the concept of mitigating controls
Mitigating controls is a perspective of having an inherent balancing methodology to manage processes, so that no one person is capable of performing tasks in the enterprise that lead to unintended spending or revenue impacts. A concept of checks and balances on any activity is important.
Mitigating control factors are important to ensure and reduce untimely and unexpected impact of process changes to the enterprise. Understanding and documenting these allow for proactive resolution of sudden changes to the business process and effected processes and systems.
From out-sourcing to diversification the world lends itself to be a large extended family/work environment and this is a new facet of doing business. Mergers and e-commerce also lead to a more challenging environment.
Today's systems - both hardware and software - have crossed the global and language frontiers to evolve into a key/important factor enabling the company to be
¨ Competitive; and
Transactional business knowledge is the pre-cursor and basis for this phenomenal change in perspective. Data accuracy and availability are keys to the enterprise level capability of ‘being informed’.