As organizations look towards the future, many are focused on bridging business and compliance objectives by reducing and optimizing operational and compliance spend. New technologies incorporating automation and artificial intelligence hold great promise. However, to obtain the most value from this investment, organizations must first reassess their core processes and controls, streamline governance, and enhance risk management and mitigation.
KPMG’s new paper, Streamlining to create value, discusses the core elements that comprise this assessment process: redesigning skills and roles; aligning risks and controls; and consolidating testing, surveillance, and investigations.
Whether called convergence, integration, transformation, or optimization, focusing on these core elements can help organizations improve the value they derive from streamlined compliance.