Process management involves monitoring and managing the performance of, and risks and controls related to, operational processes to ensure the delivery of the strategy while operating within risk appetite.
By focusing on process management, organisations can improve their operational efficiency, become more innovative and respond with greater agility to the needs of the market. There is also evidence that process-managed enterprises are highly effective at cutting costs across the value chain.
From an operational point of view, many organisations have adopted process improvement methodologies such as Six Sigma and LEAN.
StratexPoint is the only SharePoint application which enables organisations to close the gap between strategy and operations by integrating process management within a performance and risk management solution. Within the solution, users can:
· Define their key operational processes and visualise these using Microsoft Visio
· Define risks and controls related to processes
· Conduct process related risk and control assessments
· Define indictors for processes
· Align initiatives and actions to drive process improvements
· Define accountability for processes using the RACI model
· Automated process and systems related risk and controls dashboards and reporting, while enabling advanced analytics
· Encourage a collaborative approach to executing processes via commentary, alerts and other web 2.0 collaboration capabilities
· Automated risk and controls dashboards and reporting, while enabling advanced analytics