During a recent talk recently with some colleagues, we ended up in a lively discussion on how information technology is considered by – and presented to – corporate boards.
One of the key issues we discussed is the gap between the real-time, active reports on internal operations enabled by continuous controls monitoring and the static reports that are inevitably shown to corporate boards. Even at some of the most forward-thinking companies, where these solutions provide varied functions and departments with real visibility into internal operations, the board almost always sees a PowerPoint or Word summary of those operations, which they are expected to use to make strategic decisions.
These kind of static summaries are about as useful or representative as a single frame from a movie – yet the board is expected to make decisions on this information, which may already be outdated by the time it is formally presented.
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