budget

The pain points for compliance support

Tue, 08 Apr 2008 06:59:59 -0400

Computer Technology Review brought together three experts to discuss compliance, e-discovery and relevant IT issues. One question was about the "pain points" that companies likely will feel this year. The answer ran along these lines: somehow store and accounting for all types of electronic communications in a way that satisfies all departments, from IT to legal, at a time when the budget isn't likely to expand. To keep up, you may be looking at some upgrades, to a new Exchange version at least, that may prove costly. But when the budget rubber hits the road, you will be forced to come up with ways to Band-Aid your current system. Good luck. Probably a good idea to look into this now. The last thing you want is to come up short during a legal proceeding.

For more:
- here's the Computer Technology Review item

Related Articles:
Compliance readiness: A way of life. Article
Compliance basics for the uninitiated. Article

CFOs face complex GRC software decisions

Tue, 26 Feb 2008 06:59:59 -0500

Most people assume that so-called GRC software--governance, risk and compliance--will continue to gather steam, as big boys like Oracle and SAP continue their marketing. It makes sense to automate compliance and risk issues, but the reality of this nascent field is that there really isn't a single point solution. Sure the big guys offer lots of functionality, but you have to weigh that against your budget and specific needs. There are plenty of small vendors out there leaving their marks. Movaris, for example, recently was bought by Trintech, which will round out its service offering for CFOs. John Hagerty of AMR makes the point that most GRC solutions are bought and implemented within silos. While all companies want to offer a complete set of services, the reality is that most companies will have to mix and match to get their optimal solution.

For more:
- here's a note from Hagerty

Will the economy zap compliance initiatives?

Tue, 05 Feb 2008 06:59:59 -0500

You might have had big plans for taking your compliance efforts to the next level in 2008. You've had a few years to establish a baseline, and now you're ready to leverage compliance activity as a strategic asset. You're ticket to the next level. You're big chance to... Hold on! There's a big problem with this scenario: money. There likely won't be a lot of budget expansion this year at all levels, especially IT. All managers will likely be asked to "rationalize" their spending priorities. And that may mean some financial projects will have to be delayed. Then again, you may figure out a way to make it happen after all.

For more:
- here's an article from enterprise IT planet

ALSO NOTED: How to deal with 404 at foreign subsidiaries; The compliance risks of running a global operation;

Tue, 08 Jan 2008 06:59:58 -0500

> PCAOB budget boosted. Article

> Deloitte to pay $38 million in Delphi case. Article

> Companies getting tough on travel policies. Article

> Energy usage to become a Sarbanes-Oxley issue? Article

> SEC to look at disclosure of credit risks. Article

> The compliance risks of running a global operation. Article

> How to deal with 404 at foreign subsidiaries. Article

> Small businesses: Time to embrace SAAS storage and monitoring of data? Article

> Sarbox and non profits. Article

And finally... How to motivate employees. Article

ALSO NOTED: Irony: GAO finds control weaknesses at SEC; Sarbox consultants win more business;

Tue, 27 Nov 2007 06:59:58 -0500

> PCAOB bars former KPMG auditor. Article
> A guilty verdict in fake filings case. Article
> PCAOB seeks 6 percent budget boost. Article
> Irony: GAO finds control weaknesses at SEC. Article
> Law firm seeks $700 million in Enron fees. Article
> Sarbox consultants win more business. Article
> SEC names new chief accountant. Article

And finally ... Guide to smart holiday spending. Article

Better manage your storage energy costs

Mon, 30 Apr 2007 20:01:38 -0400

We've discussed the soaring need for storage, driven in part by compliance needs. Associated with that are soaring energy costs, which you can't ignore. EMC thinks that such costs will rise to 50 percent of the IT budget in just a few years. Storage presents special energy problems that most firms have yet to address. Now might be a good time to start thinking about how you can cut storage energy costs before they really get out of hand. Consolidating your hardware is a good place to start. More tips can be found here. There are some tricky integration issues for your IT guys to grapple with.

How much should compliance cost?

Mon, 11 Dec 2006 19:01:39 -0500

The IT Policy Compliance Group has released the results of a survey of 876 organizations that reveals some interesting compliance spending patterns. Companies that appear to be the most successful in meeting their compliance burdens spend $1 on security for every $30,000 in revenue. Laggards spend $1 on for every $90,000. So it's not a matter of throwing money at the problem; it's a matter of prioritizing. Companies that are not faring well are really paying for it. While security is not the only aspect of a sound compliance strategy from an IT perspective, it is critical. A good rule of thumb is to spend at least 10 percent of the IT budget on security systems, including auditing, monitoring, and reporting. More than 70 percent of respondents said they experience between 3 and 15 compliance problems a year. Interesting factoid: Since 1981, 114,000 new regulations have been rolled out. Whew!

For more on the survey,
- read this Information Week article

Related Article:
Another cost issue: Rising pay for compliance officers. Report

IT vs. Compliance turf wars

Mon, 13 Nov 2006 19:01:38 -0500

There are some who think a potentially nasty turf war between newly empowered compliance executives and IT executives could be in the making. A new survey holds that compliance divisions that are starting to exert control over compliance technology spending, and that impinges on the domain of IT executives. Just under 40 percent compliance systems buying is charged to the IT budget. So there could easily be some conflicts that you would want to head off with a very proactive approach. Obviously, communication and a clear delineation of duties are paramount. Article