For many organisations today, technology is a pervasive function in that everyone uses some form of device in their daily lives. Businesses need to understand what the optimal usage is and in many cases there needs to be an audit to see if the operational costs are spent for the right technology mix.
Customer and employee data is critical to the success of any organisation – and as we see today, the dangers of data theft or misuse is a public relations disaster and could cause a business to shut down. Privacy regulations in one country or region may have an adverse affect on an organisation in another.
Madison Wells provides advisory services that cover:
Governance Issues Surrounding Local and International Regulations.
Australian businesses are fortunate in having significant regulatory requirements that help to protect the entity and the customers from danger in running or using a business. However this regulatory requirement leads to two important issues.
The first is that as the regulations change due to Government policy, the entity needs to adopt (or define the intent to adopt) the policy revisions as quickly as possible. This needs to be mapped into a communications plan to ensure that customers, suppliers and other parts of the eco-system are aware of the adoption.
The second is that a regulatory requirement in one market may impact an Australian business even if there is no revenue from that geographic region. It is important that as the company grows it is aware of the regulations that will need to be adhered to as they become relevant.
Data Governance with Risk Assessment.
Mapping to the Governance Issues Surrounding Local and International Regulations is the need to understand what data is being stored, what its use is, who uses it, where it is stored and its lifecycle. Data breaches are the most serious events that can occur to a company today and will damage the brand and reputation. Madison Wells will assess the data footprint and advise on mitigating or risk reducing solutions.
Technology Footprints Associated with Ongoing Licensing and Operational Costs.
Madison Wells will assess the footprint of all the technology used and will provide a report that defines the ongoing costs to manage the systems. In many cases it will provide input for future budgeting, enabling a better use of the fund available.
Functional Reviews to Find Areas of Cost Savings.
The technology footprint assessment can also be used to find operational cost savings based on the usage and licensing costs associated with the technology in the IT systems. Many systems are getting too complex with overlaps in functionality and with application programming interfaces more readily available, there may be options to consolidate some of the systems.
Mapping of Corporate Strategies to Technological Functions.
The final Technology Governance Advisory Service is to review the corporate and technological strategies to ensure that the two plans are in sync with each other. Combining this work with other work-streams can highlight areas of conflict or concern for the senior management.