Saturday, March 27, 2010

Meeting Regulatory challenges - In testing times

Dear Friends,

A recent market report suggested that nearly sixty percent of the companies they surveyed are not satisfied with their current IT systems. In another report it also highlighted that nearly half of user community will be dissatisfied with the slow rate of IT change in their enterprises. There is likelihood of this dissatisfaction to increase as companies may not invest hugely to change their current IT landscape. On the other side of the coin, organizations are reminded to fulfill or to meet the business requirements, regulatory requirements, and stakeholders’ expectations. Under these testing times, Business process management / Reengineering provide a framework, where organizations can improve the agility and regulatory and sustainable performance.

The typical challenges, an organization a face when it comes to this sphere of business is, more often EH&S / Sustainability need localized execution to meet the regional requirements. The principle steps to reach out to there is i) Assess the company footprint in the world of regulatory compliance / Sustainability, ii) Establish end – end business processes for meeting regulatory / compliance requirements, iii) Standardize the core processes that are stable, like 3rd party data services to manage and automatic processing of information, iv) Look for business process changes and identify localized business processes and adapt global solution and finally v) Migrate to new process, in a planned and systematic way involving key business users.