One of the key things that ERP Systems provide are process controls. This article examines the issues around IS governance.
Improving governance with information systems
Why do we need information systems (IS) governance? Technology specialists tell us that there isn’t a great deal more functionality we can get out of our computer equipment. The next five years will not bring another Internet … revolution or significant changes in equipment size. We should concentrate on getting more out of our existing equipment by using it in a better fashion. IS governance is a framework for better controls.
Controls in the last couple of years have gained an image in the commercial world of excessive overheads and reduced efficiency. That does not have to be the case but it needs an approach different from the existing Sarbanes-Oxley process. Perhaps the future methodology could include more business controls designed to achieve greater productivity and asset control. Logistic controls to help an entity maximise its investment return on inventory usage could be an example.
The modern corporation needs financial controls because
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