Business Intelligence is a broad category of applications and technologies for gathering, providing access to, and analyzing data for the purpose of helping enterprise users make better business decisions. The term implies having a comprehensive knowledge of all of the factors that affect your business. It is imperative that you have an in depth knowledge about factors such as your customers, competitors, business partners, economic environment, and internal operations to make effective and good quality business decisions. Business intelligence enables you to make these kinds of decisions.
From its beginnings in the early 1990s to its present state, enterprise risk management (ERM) has experienced a significant transformation. Over the past three decades, ERM has evolved in response to a number of macroeconomic events, as well as multiple business and regulatory changes. We live in a new world that is now more volatile and uncertain than ever before. The speed of change and the velocity of risk have increased significantly.
Download this white paper from ERM pioneer James Lam to learn how organizations can successfully evolve their ERM function. You'll explore the history of ERM and how events have shaped the current function in organizations, the next phase in its evolution of performance-based continuous ERM, and its seven key attributes.
A basic business component, GRC strategy is implemented by all companies in some way shape or form, but it is not done well for many. Strategies need to be strong, structured, and integrated.
Download the findings of the 2016 OCEG's GRC Technology Strategy Survey report to see how your GRC system stacks up against your peers. You'll learn how organizations currently and plan to use GRC technology and what strategies for GRC technology use are being employed by industry leaders.
Enterprise risk management (ERM) is moving to the top of corporate agendas, and evidence shows strategic risk is a key factor in a robust ERM framework.
Check out this white paper from risk management pioneer James Lam. In it, Lam explains why every organization should be focusing on strategic risk. You'll learn how to integrate risks into the planning process, use economic capital and risk-adjusted return on capital to measure risk, and how to apply these results.
Workiva commissioned Forrester Consulting to conduct a Total Economic ImpactTM study and examine the potential return on investment (ROI) enterprises may realize by deploying Wdesk for Controls Management. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Wdesk on their organizations and how it can be leveraged to optimize the processes necessary to deliver Sarbanes-Oxley (SOX) compliance.
This in-depth financial summary finds a 238% three-year, risk-adjusted ROI for a large auto parts retailer. Key outcomes include reduced the effort required to formulate and update processes and controls for SOX compliance resulting in a three-year benefit of $190,568, and simplified audit efforts with improved audit trails in financial controls, delivering three-year present value benefits of $128,965.
If your company is engaged in international activities, it's critical that you assess and understand the risks of non-compliance with the Foreign Corrupt Practices Act (FCPA). To avoid becoming a costly statistic, you need to design your controls accordingly.
Download this white paper from experts Joseph Howell, Cofounder and Executive Vice President at Workiva, and Brent Macey, Director of Internal Audit for Schnitzer Steel Industries, Inc. They'll discuss the major components of the FCPA, and how companies can perform the risk assessment process in an efficient manner. They'll also provide a practical guide to implement internal controls for FCPA at an international level.
Read this white paper to learn how to define and implement process improvement strategies and create a sustainable and repeatable process for regulatory reporting documentation. By examining what data infrastructures, tools and distribution processes are commonly used today, the paper outlines a clear path to improved productivity.
This white paper outlines a repeatable and sustainable strategy for developing Recovery and Resolution Plans (RRPs) that will help financial institutions turn a regulatory burden into an opportunity. By following the seven steps outlined, firms can form a dynamic regulatory environment that supports a healthy and engaged organizational risk culture.
nsurance companies face ever-increasing levels of regulation amidst a complex environment of state, federal, and international oversight. And the pace is unlikely to slow—indeed, regulations are only expected to increase over time.
The first step to developing an effective strategy is to better understand the territory and how it may evolve. In this white paper, we discuss current regulatory requirements, expected changes coming down the pike, and potential threats in the years to come—along with how to stay on top of it all.
The Own Risk and Solvency Assessment (ORSA) has evolved from a relatively unknown requirement to a present reality, and companies continue to adapt their plans to comply with the mandate. The challenge presented by the ORSA requirement is to develop a process and produce a summary report that closely matches the unique goals, policies, and practices of the insurer, while avoiding a cookie-cutter approach.
This challenge is also an opportunity to take a fresh look at the organization’s risk protocols, deployment of capital, and ERM-related computer systems, perhaps leading to meaningful changes or simply confirming the adequacy of the current practices. This paper provides tips to facilitate the process, avoid fundamental mistakes, and prepare the summary report efficiently.
This white paper outlines the current landscape of regulatory reporting and compliance, including cost-containment challenges and the evolving nature of increasing mandates. The discussion helps to identify other large processes that can benefit from using the process improvement methodologies in the Universal Process Framework. This paper also explores an example of a regulatory reporting framework as applied to a CCAR submission. This case study highlights numerous opportunities to decrease inefficiencies throughout the business reporting documentation process.
Public and private companies must generate a wide array of business reports and presentations on a recurring basis. Examples include external financial reports and compliance certifications, internal monthly management and board reports, reports that respond to regulatory requirements around risk management, and corporate sustainability reports.
Many companies still rely on a combination of desktop authoring tools, email, shared drives, general purpose collaboration tools, and external printing services to produce these reports. The result is increased cost and time, lower staff productivity, greater risk of errors, and reduced business agility.
The International Data Corporation believes business reporting is best addressed with a purpose-built solution. This white paper explores how the Workiva cloud-based solution, Wdesk, is transforming business reporting in large companies by providing an end-to-end solution.
Today’s managers are being asked to do more with less. For many managers, it’s a near-impossible task. They often struggle to identify inefficiencies in their departments and resort to small cost-cutting measures that make a trivial difference to the bottom line. They want to do more, but they don’t have the budgets or resources.
Without the ability to make changes that will save their organizations millions of dollars, they can’t win the attention of process management resources inside the enterprise. What they need is a way to apply process improvement thinking on a smaller scale—a way to make big, lasting changes that will help their organizations run smarter and leaner without breaking the bank.
We believe financial reporting is an area where managers can make giant leaps in efficiency and cost savings— using the resources they have, within the boundaries of their existing budgets. By applying a process improvement framework to their existing workflows, managers can effect
Teams that regularly produce large reports with many contributors and review cycles have no choice but to use spreadsheets, slide decks, and word processing documents. But these tools require significant manual effort to produce a final report. Here are 10 strategies that will improve the entire process.
Until very recently, reporting teams have had few worthy alternatives for collecting, presenting, and analyzing complex data.
Finance professionals have been asked to do more with dated software and provide valuable insights with antiquated processes. Advancements in desktop software and use of the cloud may have shifted a dated process from pencil and paper, but it has also left us with too many moving parts and too many unconnected documents.
As the landscape of business reporting continues to evolve, it is critical for organizations to keep a pulse on emerging opportunities to improve collaboration, increase productivity, and help them select the right solution for the job.
Information is the foundation of business analysis and strategy, and preserving the quality of information as it is gathered and shared is crucial to success.
This e-book is an introduction to understanding cloud-based services for effective financial reporting. After you read this guide, you’ll have a comprehensive view of the top seven assessments for selecting your next cloud system.
The evolution of cloud infrastructures toward hybrid cloud models is inexorable, driven both by the requirement of greater IT agility and by financial pressures. A study by 451 Research reveals that the greatest barrier to cloud migrations is the twin challenges of security and compliance in the hybrid cloud space. Organizations are struggling with practical considerations, which can prevent them from achieving some of the most important and valuable benefits of hybrid cloud deployments. This report details a number of steps that organizations can take to set themselves squarely on a path to a secure and compliant hybrid cloud.
With many enterprises implementing a hybrid cloud environment to move applications to cloud, IT organizations must establish a decision-making framework for evaluating, deploying, and operating applications in the cloud. Businesses need to be able to deliver applications in the right way and on the right cloud, so IT organizations seek insight into setting policies for the best placement of applications across different cloud options. In this report, Gartner offers analysis and recommendations for moving traditional apps to private cloud and for brokering and managing apps across different private and public cloud options.
In this report, Gartner offers analysis and recommendations for successful private cloud deployments, including:
Engaging developers to provide the cloud-native deployment services they need in private IaaS deployments
Linking your IaaS private cloud deployment to your DevOps initiative with integrated IaaS/PaaS capabilities
Architecting and designing a full-solution approach to reduce overlap between different tools and constituents
Read this Forrester report to learn how to: 1) Increase network security, performance, and availability, 2) Reduce costs and protect your investment with Flexible Performance Licensing, 3) Evaluate the potential return on investment (ROI) your organization may realize with XGS.
A white paper discussing why global threat intelligence is more important than ever in the fight against web fraud, and how IBM uses this threat intelligence to deliver automated threat protection to financial institutions.