Position Papers
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Periodically, CEO Counselors generates Position Papers that provide information on methodology, experience or rationale for improving business processes and exploiting Information Systems and Technology (IS&T) to achieve competitive advntage.
In 2002, Congress passed legislation authored by the Honorable Messrs. Sarbanes and Oxley that responded to the corporate malfeasance of the 1990's and required actions by auditors, Board members and senior executives. The intent of the legislation was to increase the reliance that investors could place on the statements a company makes about its financial results and prospects. Our paper addresses the issues raised by Information Systems that a company may be building or acquiring. These systems can incur substantial cost, can require several years to implement and can produce results that exceed or meet expectations or fail to do so. History shows that over 50% of major IS&T projects have substantial cost over-runs, are delivered late or fail to produce the functionality that is needed. To the extent that financial forecasts depend on IS&T projects, a company would be wise to consider the issues raised in our Position Paper on Sarbanes-Oxley.
The business processes that link a company with its customers and suppliers are essential to its successful operations. IS&T is undergoing frequent changes and that enables every company to improve these processes. At the same time, change brings its own costs. To be successful, reengineering must be done without disrupting ongoing operations. This can only be done if processes can be redesigned quickly. Our Position Paper outlines the process of using the techniques of Rapid Reengineering to achieve continuous and successful process improvement.
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