Comments on: How to plan for short and long term Compliance management for an organization? http://www.gloucestertownshipchamber.com/organization-management/how-to-plan-for-short-and-long-term-compliance-management-for-an-organization Thu, 15 Jul 2010 18:05:41 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: Coral http://www.gloucestertownshipchamber.com/organization-management/how-to-plan-for-short-and-long-term-compliance-management-for-an-organization/comment-page-1#comment-1378 Coral Sat, 30 Jan 2010 12:32:59 +0000 http://www.gloucestertownshipchamber.com/organization-management/how-to-plan-for-short-and-long-term-compliance-management-for-an-organization#comment-1378 1. Determine if your company is affected by the Act (follow U.S. Securities and Exchange Commission guidelines). 2.Develop and execute your plan to bring your business into compliance by the first deadline (work with consultants, experts, your accountant, and your business solution provider). 3.Review your current IT systems, processes, and financial applications and determine their effectiveness for long-term compliance <br><b>References : </b><br>http://www.thecomplianceauthority.com/index.php 1. Determine if your company is affected by the Act (follow U.S. Securities and Exchange Commission guidelines).
2.Develop and execute your plan to bring your business into compliance by the first deadline (work with consultants, experts, your accountant, and your business solution provider).
3.Review your current IT systems, processes, and financial applications and determine their effectiveness for long-term compliance

References :
http://www.thecomplianceauthority.com/index.php

]]> By: sugarplum1960 http://www.gloucestertownshipchamber.com/organization-management/how-to-plan-for-short-and-long-term-compliance-management-for-an-organization/comment-page-1#comment-1377 sugarplum1960 Sat, 30 Jan 2010 12:08:59 +0000 http://www.gloucestertownshipchamber.com/organization-management/how-to-plan-for-short-and-long-term-compliance-management-for-an-organization#comment-1377 Basic contract management can be defined as the execution and monitoring of a contract for the purpose of maximizing financial and operational performance and minimizing risks. This involves tracking purchases against contracts to insure preferred suppliers are used, rates adhered to, and discounts and rebates collected. In addition, purchases should be distributed among suppliers as appropriate to mitigate risk. Contract management is important because it is the foundation of an organization’s procurement activities. However, from an enterprise perspective, contract management takes on many more meanings. Although contract management is the process of tracking contracts to determine who the corporation should be ordering from, when, and at what price – and ensuring that the suppliers are adhering to the agreed upon terms – from procurement’s perspective; from a legal perspective, contract management is the process of ensuring that the corporation is using standard terms, that risks are mitigated, and that contracts are in place for all key relationships; and from a sales perspective, contract management is the process of dotting the i’s, crossing the t’s, and making sure payment terms and dates are clearly specified. <br><b>References : </b><br>http://www.esourcingwiki.com/index.php/Contract_Management_and_Compliance Basic contract management can be defined as the execution and monitoring of a contract for the purpose of maximizing financial and operational performance and minimizing risks. This involves tracking purchases against contracts to insure preferred suppliers are used, rates adhered to, and discounts and rebates collected. In addition, purchases should be distributed among suppliers as appropriate to mitigate risk. Contract management is important because it is the foundation of an organization’s procurement activities.

However, from an enterprise perspective, contract management takes on many more meanings. Although contract management is the process of tracking contracts to determine who the corporation should be ordering from, when, and at what price – and ensuring that the suppliers are adhering to the agreed upon terms – from procurement’s perspective; from a legal perspective, contract management is the process of ensuring that the corporation is using standard terms, that risks are mitigated, and that contracts are in place for all key relationships; and from a sales perspective, contract management is the process of dotting the i’s, crossing the t’s, and making sure payment terms and dates are clearly specified.

References :
http://www.esourcingwiki.com/index.php/Contract_Management_and_Compliance

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