Risk Management is an increasingly important topic for many Microsoft Dynamics GP customers. Bill Burke, President / CEO - Merit Solutions, Inc., and Kari Peterson, Senior Technical Product Manager - Microsoft Dynamics, presented a session at Convergence 2008 Orlando entitled "Protecting Corporate Assets with Microsoft Dynamics GP". The session focused on leveraging Microsoft Dynamics GP to support organizational needs around protecting corporate assets, ensuring accurate reporting, and reducing corporate fraud. If you were unable to view this session at Convergence, here is some of what you missed:
"The concept of risk management is centrally about protecting corporate assets, and increasing the success of big bets that organizations make by actively managing (or ‘derisking’) those bets through a structured and deliberate process.
So the concept of protecting corporate assets centers on managing risks, or establishing a ‘risk intelligence’ set of processes, systems and people accountabilities within your organization. These risks will center around protecting existing assets, or domain risks, and increasing the success of big bets your organization by managing reward type risks.
Smart/successful organizations today are getting structured differently around managing risks because they recognize the potential interdependencies that risks can have, and the inherent flaws of managing risk in functional silos when they tend to follow along business process lines, which are cross functional by nature. As a result, companies are moving to establish clear accountability for managing risks, and use strong systems to enforce controls and reporting, as well as surface and analyze information into an actionable format for these accountable executives.
Using Dynamics GP Audit Trails and Electronic Signatures, organizations are able to implement preventative controls, record changes, and enforce security measures in order to manage risks and protect assets.
Ultimately, it is about protecting the value of the organization, which includes assets such as cash, facilities, inventory and intellectual property; but also the less tangible assets of reputation, customer relationships, and expectations for future earnings."
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