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Why Today 'Data-Driven' Compliance is important for 'Corporate Services'?

By: Satyabir Singh
Wed May 01 2019

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Importance of Performance Data:
Today, Corporate Services are exhibiting an invigorating approach to QoS (Quality of Service) & delivery standards. However, it is imperative that they link their own KPIs & Metrics to core business performance. They should have the real data of Customer Satisfaction survey. The subjective responses to internal improvement initiatives like Good, Satisfied, Fair, Happy, Unhappy etc. cannot be measured as these are just opinions. After all, what cannot be measured objectively cannot be managed!! Therefore, the RCA (Root Cause Analysis), Incident Reporting & Case Management (IR & CM) should be at the heart of Issue Resolution & Performance Management.
To ensure audit trail and enhance the Organisation’s compliance framework, the data needs to be captured through digital medium.
Achieving Compliances through Data-driven Performance Management:
Although QoS and CMM (Capability Maturity Models) have become standard objectives for Corporate Services, much of the performance & policy compliance data collection are still top-down & manual. There is a possibility that the curated data presented to business leaders may not capture the ‘missing dots’ from the BoP (Base of Pyramid or Operational Layer). This necessitates a ‘bottom-up’ approach to data-driven performance & compliance. With the advent of smartphone-based apps & reporting tools, access to real-time reporting of performance data & policy breaches have become lot more efficient & relevant to management reporting. This approach provides leaders of Corporate Services more power to harness data to -
• measure performance
• correct mistakes
• improve performance metrics
• analyse trends
• create dashboards to monitor progress &
• generate reports based on the management responsibility matrix.
This is the new blend of ‘top-down’ & ‘bottom-up’ approach to performance management & policy compliance using information technology. The efficiency can be achieved by using modern tools like software applications as they create enormous efficiencies, credibility & verifiability in generating quantitative & qualitative data from the operative environment. This also leads to a far superior corporate governance & compliance management.