Hope you got the free report through our post yesterday. Here is the link again. https://faoblog.com/common-concerns-shared-strategies-ap-ar-lessons-best-in-class/

How do we mitigate challenges and risks relating to the engagement and the processes?

  • Engagement Management
    • Communication insufficiency
      • Defined communication channels
      • Structured communication practices
      • Pre-set meetings with a defined frequency and agenda
    • Hidden components like, additional license costs
      • Identify and list requirements
      • Plan work around in case if licenses are a bottle-neck
    • Change in key assumptions for the engagement
      • Build triggers for change management
      • Build templates to capture changes
      • Implement change management procedures
    • Project sponsors and stakeholders not fully engaged
      • Schedule structured meetings at defined frequency
      • Get senior people from your organization to join the strategic meetings at top level, this will ensure the sponsor / stakeholder participation
    • Insufficient planning
      • This goes without saying – last two to three weeks we have covered key elements of planning
    • Missing progress reviews
      • Regularize operational to strategic to engagement reviews on a periodic basis

Mitigation of the process components is listed as under:

  • Process and Controls
    • Improper definition of the to-be process
      • Collect as is process maps
      • Define in detail the to-be maps
      • Identify fail points in the to-be process
      • Define roles and responsibilities
    • Non-readiness of applications required for outsourcing
      • List and articulate all requirements upfront
      • Build a test plan and execute testing
      • Get your client to set up a test module, and ask your core team to run detailed tests
      • Ensure all accesses are in place
    • Access controls not set up or delayed
      • List requirements and roles for access setup
      • Build a test plan and execute testing
    • Missing process flows
      • Define process touch-points
      • List handovers and  responsibilities thereon
      • Use some simulation application if available
    • Training – in the process and for exceptions
      • Build a detailed training plan
      • Normally keep about 3-4 hours a day for training, and the balance tile for practice sessions
      • On a weekly basis, define some extra time in the plan to handle contingencies
      • Make exception identification, taking clarifications on these and set aside time-slots to see some practical exception resolution being done
    • Communication paths and escalation matrices
      • Defined communication channels
      • Pre-defined escalation matrices
      • Pre-defined approval matrices
    • Controls or compliance impact
      • Receipt of predefined SOX or other control definitions
      • Study the effect on the to-be process
    • Undefined / incorrectly defined service levels
      • Detailed SLAs defined and agreed upon with the client, including definitions and calculation mechanism at the time of due-diligence / transitions
      • Definition of what and how for daily tracking and reporting of SLA performance
      • Training sessions on SLAs to be planned and conducted
      • Monitoring and review mechanisms defined

You will need to focus on your process to further identify what would be relevant. Have a good weekend.