As companies grow, they can frequently evolve into a culture of departments, functions, or individuals. Similar work is performed using dissimilar methods, in many cases resulting in differing results and inefficiency. Individuals develop their own tools and reports as well. Attempts are made to carry out the work of the company with disparate technology systems and complicated manual and/or undocumented business processes. This causes strain in supporting the work flow, data analysis, decision making, and compliance requirements of the company. Because there are insufficient “standard work methods,” communication, collaboration, compliance, and control become more difficult, adding costs and risk—but no value.
For more information, please contact Joseph DeGennaro, Senior Manager, CohnReznick Advisory, at Joseph.DeGennaro@CohnReznick.com or 973-871-4038.
This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.