Creating a resilient organization will often uncover processes within the business that require additional review. The changing technology in today's environment requires the on-going evaluation of the processes currently being employed. Reviewing how many different departments use the same information and how each one uses it could reveal a need to refine, re-align or re-engineer processes. Often an organization can find itself with a well-conceived solution and people to conduct the work, but inadequate ability to manage the aspects and logistics of this effort. Below are several examples of the many types of custom engagements Eagle Rock routinely performs.
Supply Chain Risk Review
It is important to identify the firm’s suppliers that pose a potentially significant risk if they cease delivery of services. The assessment can be completed by analyzing the following factors:
- Job Orders
- Purchase Orders
- Ranking of supplier among other clients as a percentage of supplier business
- What do they do, how much do they do, how critical is what they do?
The Eagle Rock Solution reviewing supply chain risk
Eagle Rock will assist with evaluating the criticality of the suppliers by mapping out the process work flow by tasks/services to be accomplished by suppliers such as their interdependencies, predecessor tasks, and successor tasks. Our seasoned professionals will work to identify potential risks facing your supply chain such as natural disasters and production line bottlenecks. In addition, Eagle Rock will identify the impacts of task failure including delay of process completion, customer loss, financial loss, legal violations, and employee morale setback. After the risks are identified, we will develop a supplier criticality rating to better assess how it would impact on your business.
Audit Review Preparation
Most organizations are subject to audits from internal or external Corporate Governance regulatory entities. Audits are designed to validate compliance with the rules and regulations that govern the industry. A pre-audit is the best way to prepare and guard against unnecessary audit comments and exceptions.
The Eagle Rock Solution to preparing for an audit review:
An audit review preparation is designed to help prepare for upcoming audits by:
- Identifying all policies and regulations that you will be subject to during the audit
- Reviewing any audit points or issues that were documented during the last visit by this regulatory entity
- Providing a report with findings that will prepare you for the regulatory visit
Go into an audit knowing that all foreseeable issues have been taken care of and potential surprises are limited. Even if minor issues are uncovered, steps can usually be taken to remedy them prior to the audit.
Vital Records Program Review
Some corporations invest significant amounts of money and resources to ensure that their data is captured and would survive a disaster. Many corporations also think they do not have enough data to warrant a full backup and recovery system. They may not include backup and recovery resources in their budget, or believe that there isn't enough time to perform backups. Outsourcing may not be a consideration. Finally, they believe that their system is just fine and do not test it.
The Eagle Rock Solution reviewing your vital records program:
A thorough review of a vital records program consists of the following activities:
- Review of the media used to retain vital records (i.e., tape versus disk)
- Identification of current back-up hardware, software and procedures
- Identification of back-up frequency
- Quantification of Recovery Point Objectives (RPOs) of application data to ensure they match the back-up schedules
- Verification that required systems and hardware necessary to restore data are available and functioning
- Evaluation of test results from restoring data during non-disaster situations
The completion of a vital records program review will identify any potential issues that may affect the business' capacity to recover information in the event of a disaster. The recovery point objectives (RPOs) will be quantified and the ability to meet them will be validated. The integrity of the backed-up information will be confirmed and a solid level of confidence will be achieved.
Best Practices Gap Analysis
While most corporations feel that they have selected the best method in which to conduct their business, in comparison to other industry-related businesses it is essential to confirm Best Practices. Business processes and technology capabilities are changing all the time. Accurate identification of gaps in business processes will result in increased competitiveness and gain in market share.
The Eagle Rock Solution adhering to industry best practices:
Comparison against the Best Practices currently being exercised by other corporations can be achieved by the following:
- Analyzing current strategy and how it was developed
- Comparing the strategy requirements to what has actually been implemented
- Collecting the strategies employed by other corporations in the industry
- Comparing your strategy and implementation with the best practices of others in the industry
- Reporting in detail any gaps, as well as recommendations that will generate alignment with the Best Practices of the industry
Organizations need to consider the Best Practices and strategies available, and review them on a regular basis.