What is business assurance?
Business assurance is knowing your business decisions are based on solid, accurate, reliable business information and that legal and regulatory requirements are taken care of.
Strong business assurance means your business has the best chance of increased profits, company growth and continued success.
Business assurance is something every executive should be able to take for granted – but it isn’t. Time and again we meet senior leadership teams who can’t get the information they need about their business, or who know the information they’re receiving isn’t reliable.
That’s poor business assurance and it’s a big problem.
Read A Case Study
A multinational telco improves business assurance by implementing a business information issues management system, with the help of Intraversed consultants
Read more here
How can you assess your business assurance level?
Business assurance isn’t always easy to gauge, but there are some common indicators. You’re likely to have a business assurance problem if you:
- have evidence that your business information is unreliable, inconsistent or impossible to attain, you have a business assurance problem that should make business leaders nervous.
- suspect there may be problems with your business information, you have business assurance doubt, and that isn’t where business leaders should feel comfortable.
- know your team is struggling to deliver regulatory reporting or you know you’re not complying with regulations, you have a serious business assurance issue.
- have a company big enough to allow each division to operate in ways others are unaware of, potentially carrying wasteful profit leakage and almost certainly frustrating your team through this siloed approach that creates invisibility and redundancy.