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.
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