Monday, August 2, 2010

The Holy Grail: Leverage your SOX skills to save money and drive sales

This blog is most likely not for you.  I think there are only about 1000 people that want to reduce the costs of Sarbanes-Oxley requirements while simultaneously redirecting internal talent to projects that drive shareholder value by increasing sales. 

In my experience, a few of the obstacles include: 
  1. fear of doing things that might cost a person his job;
  2. uncertainty with focusing on debatable activities that drive shareholder value; and
  3. inexperience with practicing how to get out of one's comfort zone. 
A few questions to consider:
  1. Why can't the skills obtained through the course of preparing for SOX be used to drive sales?
  2. Where are the allowable "loopholes" in the regulations that allow for a company to implement internal controls over financial reporting in the most efficient way possible?
  3. How to motivate those charged with SOX to read the guidance as passionately as someone might read religious literature [or the last thing you read with intense interest]?
In this blog I will identify ways a company can overcome the fears of wasting its blood and treasure and not optimizing the relationship it has with its customers.  To overcome these fears, I will discuss topics to help 1) save time with SOX compliance and 2) redirect this [free] time to activities that drive sales.  See post #2 and beyond!

Please use your personal name or initials and not your business name and do not put your website in the comment text as both will come off like spam.  Have fun and thanks for adding to the conversation!

No comments:

Post a Comment