Consider to improve your organizations performance

Monitor for exceptions

Ever worried about things like duplicate payments, payments without PO's, payments for incomplete deliveries, changes to agreed payment terms and pricing or even unbilled revenue? Then you are not alone since these performance exceptions comprise the top 5 of questions asked by CFO's.

Most organizations are busy, often via huge investment, to address user access, application & process Controls and static data monitoring. Largely necessary and complex enough but leaving one important aspect untouched: the performance aspect.

A real life performance issue example: PO's created the same day as Good Received

33% of the PO's turned were not according corporate objectives (not approved PO, non standard vendor terms, no best price effort tried, no volume options checked, etc.). Of course not all could have been prevented but internal benchmarks for this large company showed 7% average savings, or $21 million per year, as a result of this monitoring. The costs for this monitoring were amortized after one week.

Most controls will never detect an exception as the one above: as long as the standardized data processing is met, meaning the changes were made by authorized people in a traceable way, all is fine. In order to address this properly we need to enforce standard business execution. To make this happen we need Business Transaction Monitoring.

Business Transaction Monitoring goals

  • Immediate insight into control violations
  • An audit scope and focus on business performance
  • Fully automated exception discovery
  • Coverage across all relevant processes and applications
  • Embed ownership, analysis and management of corrective activities

Consider Solutions addresses the search for exceptions that impact your business performance not by introducing yet more complexity at a huge cost but by applying best practices for successful monitoring.

Let us engage to see how we can help to implement monitoring around your top questions. Simply sent us your Top 5 Exception Monitoring Requests and we will get back to you to discuss a possible solution. Alternatively invite us for an exploration meeting.

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