Proposed Government Policy Changes Prove GRC More Relevant Than Ever

Bruce Romney

It’s been an interesting political roller coaster, to say the least, in the U.S. over the past several months. While things seem to be settling just a little, I’m sure a day won’t pass without a news story or press release that doesn’t cause significant pause for some, and cautious optimism for others.

Regardless of which way the political winds blow, whenever leadership shifts in the White House and Congress, proposed policy changes that will affect businesses worldwide come under the microscope. And of these policies, it seems clear that governance, risk, and compliance (GRC) issues will be front and center for CEOs committed to driving growth in the years ahead.

A CEO’s point of view

I very much appreciated listening in to an interview with Dow Chemical’s CEO, Andrew Liveris, on Neil Cavuto’s “Coast to Coast” business program. Mr. Liveris had just been part of a gathering of CEOs advising the new administration on the opportunity to grow the U.S. economy beyond the 2% growth rate, especially in the area of bringing back manufacturing.

Source: PwC CEO Survey

Mr. Liveris is active in the geopolitical space as a significant influencer on the global stage. He has relationships with leaders in many, many other countries and regions worldwide. (Dow Chemical, for example, operates in more than 160 countries). Australian by nationality and party neutral as a leader of a large multinational, Mr. Liveris considers himself neither “red” nor “blue,” but “purple” when it comes to U.S. politics.

I appreciate this pragmatic approach, as it allows him to contribute in a meaningful way to everyone, and indeed he has advised the both the Obama and Trump Administrations, in addition to being personal friends with the Clintons. The world continues to move forward, and helping to shape tomorrow’s direction and vision is not an insignificant influence he wields.

Winds of policy change and GRC

Considering how quickly a stroke of a pen can roll back years of prior policy or institute new requirements that seem to even flirt with evading courts or legislative bodies, organizations must be nimbler and quicker than ever to anticipate and respond to the new risks and opportunities that are presented by changes in governmental administrations.

When Mr. Liveris talked about all the areas of focus for him as a CEO in driving this new growth, he didn’t bring up topics such as machine learning, or blockchain—however important these emerging technologies may be. Instead, he highlighted the following topics, in this order: 1. regulatory change 2. changes in tax policy 3. trade 4. infrastructure 5. education 6. energy and others.

I don’t think it’s a small coincidence that the top three drivers for this agenda are front-and-center GRC topics. And although not mentioned in this interview, other GRC topics like cybersecurity risk and governance are also top of mind across the globe for CEOs for all sizes of organizations. (See the graph below from the PwC CEO Survey.)

As a GRC “practitioner,” this excites me and gives me renewed appreciation for the fact that we’re in a space that is driving change and will continue to be highly relevant. We’re challenged to help the broader organization see these and other GRC topics as not just a cost of doing business, but as driving the CEO’s growth agenda in 2017 and beyond.

An agile GRC platform is essential

What’s needed is an agile GRC platform covering the wide array of GRC requirements demanded to ensure growth, including regulatory change management and the three lines of defense. This platform should enable your organization to institute the right combination of access governance and data protection, manage cyber threats on a daily basis, and manage new tax and global trade requirements.

And don’t forget the potential every four years in the U.S. for the next pen—whether blue or red—to keep those winds of change blowing.

Learn more

SAP offers a tremendous vision and capability for organizations to navigate the rapid pace of change. Read the other blogs in our GRC Tuesdays series to learn more about topics like these.

This article, originally titled “GRC Tuesdays: Proposed Government Policy Changes Prove GRC More Relevant Than Ever,” originally appeared on the SAP BusinessObjects Analytics blog and has been republished with permission.

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Digitalist Flash Briefing: Who Cares About Data Breaches?

Bonnie D. Graham

Today’s briefing looks at how major consumer data breaches – such as fraudulent credit card charges, compromised data, hijacked e-mail, or social media accounts, and loans or lines of credit opened through identity theft – impact consumers and the breached companies.

  • Amazon Echo or Dot: Enable the “Digitalist” flash briefing skill, and ask Alexa to “play my flash briefings” on every business day.
  • Alexa on a mobile device:
    • Download the Amazon Alexa app: Select Skills, and search “Digitalist”. Then, select Digitalist, and click on the Enable button.
    • Download the Amazon app: Click on the microphone icon and say “Play my flash briefing.”

Find and listen to previous Flash Briefings on Digitalistmag.com.

Read more on today’s topic

 

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About Bonnie D. Graham

Bonnie D. Graham is the creator, producer and host/moderator of 29 Game-Changers Radio series presented by SAP, bringing technology and business strategy thought leadership panel discussions to a global audience via the Business Channel on World Talk Radio. A broadcast journalist with nearly 20 years in media production and hosting, Bonnie has held marketing communications management roles in the business software, financial services, and real estate industries. She calls SAP Radio her “dream job”. Listen to Coffee Break with Game-Changers.

Driving Full Adoption Of Virtualized Desktop Environments

Daniel Newman

As more employees become mobile workers, it’s time for enterprise businesses to move to virtualized desktop environments. Here’s why.

Virtualized desktop infrastructure (VDI) was developed over ten years ago, yet its true potential is only being discovered now. I’ve written about VDI before – it just goes to show how much of a VDI fan I am. I still remember the excitement of logging on to my first remote desktop more than a decade ago. To sit at home and still have the exact same files and software I had at the office was magical!

Virtualized desktop environments have come a long way since then. Built on the same prose as VDI, these allow for desktops to be hosted at a data center or on the cloud. Considering that IDC predicts nearly three-quarters of the workforce will be online by 2020, it’s absolutely necessary for organizations to drive full adoption of VDE. Among other benefits, VDEs can store legacy systems and applications in a central location and be accessed from any device. With the exponential rise of bringing your own devices to work (BYOD), VDEs become of utmost importance. Here’s why businesses need to fully embrace VDEs in the years to come.

Increased productivity

While the “how” may not be obvious at first, a centralized virtualized environment boosts productivity in many ways. In the business world, efficiency comes in the form of time and cost savings. VDEs provide both. Employees will be able to work when they want, from a location of their choice, using the device they prefer. For employees who thrive in a more creative office environment than a cramped cubicle, this could do wonders. If an employee is stuck at an airport or delayed at an appointment, VDEs will allow them to complete work that needs to get done.

In terms of upkeep, IT productivity increases too. Having a centralized system to manage devices, applications, and security concerns is easier and more efficient than dealing with troubleshooting individual devices. Updates can be done at one go, freeing up IT staff time to focus their efforts elsewhere. In general, VDEs help overall business productivity through greater mobility across the organization.

Improved security

One of the greatest benefits of a virtualized desktop environment is that it sets the stage for better security practices across an organization. VDEs successfully keep corporate applications and data off users’ devices, giving company control of security. In the past, employees working from home might email work-related documents to their home computer. In such cases, the company would lose control over the security of the document as soon as it was opened on the home computer. With VDEs, all work takes place via a data center or cloud, where it can be monitored and protected.

Similarly, when it’s time to apply a security update, VDEs enable a more streamlined process. The IT department can simply patch one image in the data center or cloud, updating all devices promptly and reducing the risk of security breaches due to time lag.

Reduced cost

As mentioned above, VDEs can generate huge cost savings. Once virtualization is securely set up, companies can institute BYOD programs, which completely eliminate the cost of device-related overhead. As personal devices are successfully connected to enterprise data, organizations don’t need to purchase any new devices, saving significant capital expenses. Additionally, organizations can reap cost savings through a more efficient and fully centralized IT management system. Ultimately, enabling centralized management through virtual environments is bound to improve an organization’s bottom line.

In conclusion, it is integral that companies use VDEs, especially as more employees work on mobile devices. In the process of driving full adoption, organizations must avoid some key mistakes. Picking the right hardware, carefully sizing storage, and planning out networks (LAN, WAN, WLAN) can have a big impact on how smoothly the transition into a virtualized desktop environment occurs.

It’s also prudent to design and define workloads as well as size up the business environment before integrating VDEs into the workplace. After all, the transition to VDEs should be seamless and well received, so that employees actually understand the benefits and can fully embrace this technology of the future.

This article originally appeared on Future of Work.

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About Daniel Newman

Daniel Newman serves as the Co-Founder and CEO of EC3, a quickly growing hosted IT and Communication service provider. Prior to this role Daniel has held several prominent leadership roles including serving as CEO of United Visual. Parent company to United Visual Systems, United Visual Productions, and United GlobalComm; a family of companies focused on Visual Communications and Audio Visual Technologies.
Daniel is also widely published and active in the Social Media Community. He is the Author of Amazon Best Selling Business Book “The Millennial CEO.” Daniel also Co-Founded the Global online Community 12 Most and was recognized by the Huffington Post as one of the 100 Business and Leadership Accounts to Follow on Twitter.
Newman is an Adjunct Professor of Management at North Central College. He attained his undergraduate degree in Marketing at Northern Illinois University and an Executive MBA from North Central College in Naperville, IL. Newman currently resides in Aurora, Illinois with his wife (Lisa) and his two daughters (Hailey 9, Avery 5).
A Chicago native all of his life, Newman is an avid golfer, a fitness fan, and a classically trained pianist

Human Skills for the Digital Future

Dan Wellers and Kai Goerlich

Technology Evolves.
So Must We.


Technology replacing human effort is as old as the first stone axe, and so is the disruption it creates.
Thanks to deep learning and other advances in AI, machine learning is catching up to the human mind faster than expected.
How do we maintain our value in a world in which AI can perform many high-value tasks?


Uniquely Human Abilities

AI is excellent at automating routine knowledge work and generating new insights from existing data — but humans know what they don’t know.

We’re driven to explore, try new and risky things, and make a difference.
 
 
 
We deduce the existence of information we don’t yet know about.
 
 
 
We imagine radical new business models, products, and opportunities.
 
 
 
We have creativity, imagination, humor, ethics, persistence, and critical thinking.


There’s Nothing Soft About “Soft Skills”

To stay ahead of AI in an increasingly automated world, we need to start cultivating our most human abilities on a societal level. There’s nothing soft about these skills, and we can’t afford to leave them to chance.

We must revamp how and what we teach to nurture the critical skills of passion, curiosity, imagination, creativity, critical thinking, and persistence. In the era of AI, no one will be able to thrive without these abilities, and most people will need help acquiring and improving them.

Anything artificial intelligence does has to fit into a human-centered value system that takes our unique abilities into account. While we help AI get more powerful, we need to get better at being human.


Download the executive brief Human Skills for the Digital Future.


Read the full article The Human Factor in an AI Future.


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About Dan Wellers

Dan Wellers is founder and leader of Digital Futures at SAP, a strategic insights and thought leadership discipline that explores how digital technologies drive exponential change in business and society.

Kai Goerlich

About Kai Goerlich

Kai Goerlich is the Chief Futurist at SAP Innovation Center network His specialties include Competitive Intelligence, Market Intelligence, Corporate Foresight, Trends, Futuring and ideation.

Share your thoughts with Kai on Twitter @KaiGoe.heif Futu

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Finance And HR: Friends Or Foes? Shifting To A Collaborative Mindset

Richard McLean

Part 1 in the 3-part “Finance and HR Collaboration” series

In my last blog, I challenged you to think of collaboration as the next killer app, citing a recent study by Oxford Economics sponsored by SAP. The study clearly explains how corporate performance improves when finance actively engages in collaboration with other business functions.

As a case in point, consider finance and HR. Both are being called on to work more collaboratively with each other – and the broader business – to help achieve a shared vision for the company. In most organizations, both have undergone a transformation to extend beyond operational tasks and adopt a more strategic focus, opening the door to more collaboration. As such, both have assumed three very important roles in the company – business partner, change agent, and steward. In this post, I’ll illustrate how collaboration can enable HR and finance to be more effective business partners.

Making the transition to focus on broader business objectives

My colleague Renata Janini Dohmen, senior vice president of HR for SAP Asia Pacific Japan, credits a changing mindset for both finance and HR as key to enabling the transition away from our traditional roles to be more collaborative. She says, “For a long time, people in HR and finance were seen as opponents. HR was focused on employees and how to motivate, encourage, and cheer on the workforce. Finance looked at the numbers and was a lot more cautious and possibly more skeptical in terms of making an investment. Today, both areas have made the transition to take on a more holistic perspective. We are pursuing strategies and approaching decisions based on what delivers the best return on investment for the company’s assets, whether those assets are monetary or non-monetary. This mindset shift plays a key role in how finance and HR execute the strategic imperatives of the company,” she notes.

Viewing joint decisions from a completely different lens

I agree with Renata. This mindset change has certainly impacted the way I make decisions. If I’m just focused on controlling costs and assessing expenditures, I’ll evaluate programs and ideas quite differently than if I’m thinking about the big picture.

For example, there’s an HR manager in our organization who runs Compensation and Benefits. She approaches me regularly with great ideas. But those ideas cost money. In the past, I was probably more inclined to look at those conversations from a tactical perspective. It was easy for me to simply say, “No, we can’t afford it.”

Now I look at her ideas from a more strategic perspective. I think, “What do we want our culture to be in the years ahead? Are the benefits packages she is proposing perhaps the right ones to get us there? Are they family friendly? Are they relevant for people in today’s world? Will they make us an employer of choice?” I quite enjoy the rich conversations we have about the impact of compensation and benefits design on the culture we want to create. Now, I see our relationship as much more collaborative and jointly invested in attracting and retaining the best people who will ultimately deliver on the company strategy. It’s a completely different lens.

Defining how finance and HR align to the company strategy

Renata and I believe that greater collaboration between finance and HR is a critical success factor. How can your organization achieve this shift? “Once the organization has clearly defined what role finance and HR must play and how they fundamentally align to the company strategy, then it’s more natural to structure them in a way to support such transformation,” Renata explains.

Technology plays an important role in our ability to successfully collaborate. Looking back, finance and HR were heavily focused on our own operational areas because everything we did tended to consume more time – just keeping the lights on and taking care of our basic responsibilities. Now, through a more efficient operating model with shared services, standard operating procedures, and automation, we can both be more business-focused and integrated. As a result, we’re able to collaborate in more meaningful ways to have a positive impact on business outcomes.

In our next blog, we’ll look at how finance and HR can work together as agents of change.

For a deeper dive, download the Oxford Economics study sponsored by SAP.

Follow SAP Finance online: @SAPFinance (Twitter)LinkedIn | FacebookYouTube

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Richard McLean

About Richard McLean

Richard McLean, regional CFO for SAP Asia Pacific Japan, oversees all key finance and administrative functions for field and regional headquarters, supporting more than 16,000 employees. He has more than 20 years of experience in senior finance roles with leading global companies across a range of industries, including financial services, investment banking, automotive, and IT. He joined SAP in 2008.