Rethinking Internal Controls: The Immense Value-Add of Integrated BPM, ICS, and ERM

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1. Challenges for companies in internal control management
   Risk and process management without internal control is like a ship without a compass. Internal controls provide direction and structure, ensure company security, and guarantee the efficient and effective use of resources. Companies know they need internal controls, and many have already implemented some rudimentary control mechanisms. However, these are often not...
    
2. Consequences of missing or inadequate risk and control management
   An organization's risk and internal control management should never be overlooked. If neglected or poorly managed, it can have significant implications for the company's success and, ultimately, its survival. These risks primarily stem from three major areas…
    
3. The exceptional value of a digital internal control system
   Introducing an ICS is a valuable investment in safeguarding and ensuring the sustainability of a company. It often becomes apparent early on that the initial costs of such a project are quickly outweighed by its numerous benefits...
    
4. Integrating ICS, ERM, and BPM: Synergies and Potential 
   Systems that naturally overlap work best when tightly integrated. That is why building an internal control system on top of existing Enterprise Risk Management (ERM) is valuable—a strategy many companies already use to boost their GRC maturity. Yet, the unique benefits of combining risk and control management with Business Process Management (BPM) are not widely known. This integration offers fresh, innovative ways to streamline processes across systems...
    
5. How to implement and optimize your ICS
    With an ICS, companies can boost their operational efficiency and ensure process security by optimizing risk management and addressing control weaknesses. This involves management's commitment to evaluating the effectiveness of all control processes that impact essential business processes. To introduce your new ICS, it is recommended that you take the following approach...
    

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