Get on top of your business with KYB
Bringing together your fragmented planning, reporting, risk, compliance systems so they can provide real time actionable intelligence
Currently businesses are running multiple tools, spreadsheets and heterogenous systems that do not talk to each other.
Staff spend time massaging data between systems and align assumptions.
There is no ability to drive interactive and intelligent applications when the processes are so fragmented.
KYB is more successful with greater integration.
Align staff to positive outcomes and create a great work environment whilst identifing bad behavior in time to act.
Knowledge workers are stressed and unhappy. They don’t feel productive and often feel that their efforts are not acknowledged. At the same time, they have access to critical information, with limited control and audit. It is not a good mix.
Creating structure and control provides a happier, productive workforce whilst minimizing risk of bad behaviour.
Executives don’t have time to search reports for hidden information. The need actionable intelligence immediately to enable them to act in time
KYB is about providing the awareness of the business at a high level and zooming into problem areas in time to act with actionable intelligence. It takes away the endless reports created over the years to watch problem areas. It focuses on the need to know issues.
KYB is critical to recognizing value and waste in the business. Identifying where to maximize returns, where to drive productivity, where to invest resources.
We have all had the disbelief moment where boards and senior executives have canned profitable businesses and elevated poor performers. The reason, the top management are mislead by poor analytics and measures.
KYB allows management to delve deeper into performance with less effort to have a better understanding of the performance areas of the business.
Aligning risk and compliance with corporate objectives and commercial outcomes to drive more sustainable and competitive business
GRC is moving to a tight alignment between risk, compliance and the commercial objectives and outcomes. This requires the strategic planning systems to integrate with risk and compliance which to date have operated independently.
For instance KYB integrates the regulatory reporting process with strategy, forecasting and scenarios. The forecasting process includes regulatory consequences.
Risk, planning, compliance is able to react quickly to economic change, to new products and services, to market disruption
How often is there a conflict between the business development teams and the risk/compliance teams. Development teams trying to innovate to build new business are frustrated by risk and compliance teams who are risk adverse.
Risk and compliance teams crumble over change. An executive bemoaned a new product at a management meeting because it would take weeks to do the capital risk assessments.
KYB replaces the inadequate systems that contribute to this problem.
Structure Knowledge Management
Information flow, politely put, is haphazard. Key grudges are poor data quality delivered too late to act. You want structure, you want insight that delivers results.
The best way to control risk, compliance, privacy and culture is to build systems and structure around information building processes. McKinsey research identified a 50% increase in productivity in most cases.
More critically, is moving staff from compiling reports to creating actionable intelligence.
Enhance audit and transparency
KYB opens up transparency in the business and builds greater control and audit. Key issues facing every board and management team
The art of bureaucracy is to control the dissemination of information and facts for political advantage. Well it feels like that to most executives.
KYB is about information belonging to the company not the individual.
Removing ownership of data requires greater audit and quality control to make sure the data is right.