Organizations today are increasingly demanding higher requirements for corporate governance and heightened standards for executive oversight. Executives should now be able to define and enforce a governance structure that reaches across the corporation.
Companies affect corporate governance by helping executives establish a mechanism for setting and communicating objectives, managing risk, and monitoring performance against the achievement of intended benefits. Combined with enterprise portfolio management tools, this approach offers a balanced view of operations by providing three key perspectives: historical performance, current performance, and forecast performance. This helps to establish transparency and visibility over all corporate assets throughout their life-cycle – from inception, through measurement of ongoing benefit, to final decommissioning.
The end result is a structure of oversight that enables early detection of operational issues and corrective action to minimize operational surprises that may otherwise impact financial performance.
Typical Solution Capability Areas
- Governance Dashboards to offer real-time visibility into all corporate assets, capital investments and related transactions
- Capital and Resource Allocation to facilitate the prioritization and assignment of resources onto initiatives that maximize value for the corporation.
- Performance and Compliance Management to set expectations and provide immediate visibility into variance from plans
- Asset Management to insure that corporate assets are effectively contributing to creation or preservation of value for the corporation.
- Enterprise Risk Management to target key risk areas and help balance the corporate appetite for growth and risk.
The need for improved compliance can lead many corporations down a path to long-term quantifiable benefits. Ten Six is helping organizations today to establish effective governance and build a foundation for competitive advantage by helping organizations to:
- Establish operational transparency by improving the way they monitor capital assets and investments for a better balance of growth, risk and reward.
- Create predictability by balancing operational performance against leading indicators in order to ensure that plans remain on target or that corrective action can be taken.
- Provide timely disclosure by understanding activity interdependencies and facilitating rapid decision- making about the materiality of an expected impact.
- Improve decision support with the ability to evaluate alternate approaches and determine the ideal action plan or response to environmental changes.
- Improve risk management by enabling the collection and evaluation of potential risk events and associated response plans that ensure rapid response and maximum performance.
- Institute controls that provide visibility into transactions related to the acquisition, development and disposition of corporate assets.
- Facilitate communication by creating contextually relevant documentation and discussion threads along with appropriate historical records.
In order to help extend governance practices deeper into the organization, Ten Six can support industry specific solutions for select business areas. Whether improving control over IT projects or R&D investments, these offerings provide the same fundamental benefits as found in the corporate governance solution:
- Aligning investment spend to business objectives
- Ensuring capacity exists to complete selected investments
- Removing subjectivity from decision making process
- Allowing rapid assessment of the portfolio in light of change
- Quickly identify those investments which need to be accelerated, postponed or cancelled