Process & System Reviews
Organisations have a variety of processes that are designed to mitigate their risks. These processes can cover areas as diverse as procurement and purchasing; accounts receivable and payable; and payroll and HR. Often, businesses change their operations or introduce new products or services and do not change their existing processes in line with these changes. This leaves them vulnerable to a range of risks and can introduce inefficiencies that lead to revenue leakage and/or increased operating costs.
These processes are often supported by systems that facilitate electronic payments; receipt of goods and services or inventory control. These systems also often operate across a variety of platforms and connect with other systems that are in use throughout the organisation, and in some instances, are implemented in a variety of locations around the globe. In our experience, these systems sometimes do not interconnect in a way which encourages the sharing of data and information across the organisation. Additionally, they may no longer be configured to adequately treat the risks now facing an organisation due to procedural changes or the introduction of new sales channels etc.
The team at RISQ have worked with organisations around the world and have significant experience in the myriad of processes and systems used by our clients to mitigate their risks. We are able to utilise that experience and assist clients by:
- Mapping processes against SOP’s and identifying gaps between policy and practice;
- Reviewing processes to determine their effectiveness from a risk control perspective;
- Reviewing IT and other systems in place to allow organisations to understand how to get the most of these systems; and
- Providing recommendations to the Board and management as to process and system enhancements, designed to reduce the risks faced by that organisation.
Process & System reviews
Organisations have a variety of processes that are designed to mitigate their risks. These processes can cover areas as diverse as procurement and purchasing; accounts receivable and payable; and payroll and HR. Often, businesses change their operations or introduce new products or services and do not change their existing processes in line with these changes. This leaves them vulnerable to a range of risks and can introduce inefficiencies that lead to revenue leakage and/or increased operating costs.
These processes are often supported by systems that facilitate electronic payments; receipt of goods and services or inventory control. These systems also often operate across a variety of platforms and connect with other systems that are in use throughout the organisation, and in some instances, are implemented in a variety of locations around the globe. In our experience, these systems sometimes do not interconnect in a way which encourages the sharing of data and information across the organisation. Additionally, they may no longer be configured to adequately treat the risks now facing an organisation due to procedural changes or the introduction of new sales channels etc.
The team at RISQ have worked with organisations around the world and have significant experience in the myriad of processes and systems used by our clients to mitigate their risks. We are able to utilise that experience and assist clients by:
- Mapping processes against SOP’s and identifying gaps between policy and practice;
- Reviewing processes to determine their effectiveness from a risk control perspective;
- Reviewing IT and other systems in place to allow organisations to understand how to get the most of these systems; and
- Providing recommendations to the Board and management as to process and system enhancements, designed to reduce the risks faced by that organisation.
