“Measuring and reporting the most valuable metrics is critical to identifying areas for improvement because they can be compared to industry and competitors for the purpose of lowering costs, enhancing productivity and safeguarding assets. Some critical Loss Prevention/Fraud KPI metrics you should be measuring are process cycle time, average days to resolve a fraud incident,Continue reading “Lean Wednesday Tip: Loss Prevention Critical KPI Metrics”
Tag Archives: auditing
Conducting an Effective Procurement Process Audit
Many clients bring me in to audit their expenses and identify inefficiencies in their procurement and Accounts Payable processes. Generally, a procurement process involves the following factors: Current business need to purchase raw materials and supplies Vendor research and price comparison, including the development of a quality plan Approving the vendor and authorizing the purchaseContinue reading “Conducting an Effective Procurement Process Audit”
IT Asset Management Checklist
It is important that you are periodically auditing and logging critical IT assets for the purpose of minimizing security, conduct and financial risks. Below I have noted the most important assets that should be properly logged and have auditable documentation. IT ASSET MANAGEMENT CHECKLIST: Hardware and Software computer user, UPC, location, model number, et ceteraContinue reading “IT Asset Management Checklist”
How to stop Freight Charges from eating away at profits
The shipping and delivery cycle time race amongst valuable brands like Amazon and Walmart is a fierce one. Many parcel companies like UPS and FedEx may offer discounted rates for delivering on time but the real question is, “Are they actually delivering on time?” By implementing effective visual internal controls, your company’s accounts payable teamContinue reading “How to stop Freight Charges from eating away at profits”
Notable Friday Chat: Fraud Risk Management
Happy Friday! I hope you’ve had a great week. With that said, I want to leave you with a short message about Fraud Risk Management. Until next week, have a wonderful weekend and remember, “Success is continuous improvement”! “To minimize fraud risk, top management must be committed to a Fraud Risk Management program, implementContinue reading “Notable Friday Chat: Fraud Risk Management”
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