CFOs Lack Visibility Into Compliance


	Advertise with Sarbanes Oxley Compliance Journal

News

< Back

Sarbanes Oxley : Governance : Back Office

CFOs Lack Visibility Into Compliance

New Aberdeen report finds that nearly 50% of enterprises are clueless as to the number of non-compliant events they have recently experienced

Andrew Bartolini
Research Director
Aberdeen Group

Although the majority of enterprises have active compliance initiatives in place, most CFOs lack clear visibility into the compliance of their supply management processes, systems, suppliers, and the broader value chain, according to a new Aberdeen Group study, "Source-to- Settle: Compliance Clues for the CFO."

Even with much in the balance for the CFO, less than half of the enterprises surveyed are employing technology to manage compliance within the source-to-settle process. Compliance management, contract lifecycle management, and supplier performance management systems remain among the best ways for the CFO to find compliance clues and address them.

"The key to the delicate balance of the CFO playing the dual role of compliance champion and detective is the convergence of finance and procurement in the very area of compliance," says Vance Checketts, Channel Director, Aberdeen Supply Management practice, and report co-author.

"The two roles have always been close to each other, but continuing compliance pressures make this union more critical than ever. Other strategic partners in the detective agency are IT and internal audit," adds Andrew Bartolini, Research Director of the practice and the other co-author.

This new study explores fear and cost savings as the two key motivators behind supply management compliance. Additionally, the study looks at the impact of Sarbanes-Oxley on the source-to-settle process. The net result is a series of best-in-class benchmarks and recommendations for improved enterprise compliance. The benefits for the CFO will be:

? Risk mitigation across source-to-settle transactions and associated suppliers

? Improved process efficiencies

? Confidence that savings reach the bottom-line.

To download a complimentary copy of Source-to-Settle: Compliance Clues for the CFO, please visit: http://aberdeen.com/link/sponsor.asp?cid=3590

Aberdeen Group, Inc. provides fact-based research and insights focused on the global, technology-driven value chain. Aberdeen's benchmarking, market and solution assessments, sales acceleration programs, and conferences support Global 5000 value chain and technology executives and the solution providers who serve them.

About Us

Editorial