Linking of objectives, obligation and initiatives, with ERM, proactive KPI monitoring, and Board reporting, is what moves a Strategic Plan into noticeable results.
Using its 30 years working in GRC with Dept of Defence, Motorola, and Serco, FastTrack understands that to deliver due diligence & ROI all business must be linked to strategic objectives and be aggregated both horizontally and vertically. Further this Context must be communicated, available, & monitored at all Operational levels i.e. a single living 2way network connected throughout the organisation. This is what FastTrack.net GRC software delivers.
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Sample screenshot: Showing traffic lights & drill down ability from Objectives to Risks, Obligations, & KPI in one click . View recorded demo/ request demo »
FastTrack.net first links objectives, obligation, directives, and initiatives, and then combines that package with enterprise risk management (ERM), proactive reporting of key performance indicators and management of board processes and decisions.
Management has obligations other than ensuring operational performance: Non-operational good governance goals such as social responsibility, equal opportunity, and staff morale can be set, tracked and reported same as operational issues. Managing non-operational obligations, linked to risk management, moves them from ‘lip service’ to commitment, producing the well documented benefits in corporate image, staff retention, and pride in product.
Fast Track manages the Strategic Planning processes at both a Strategic and Operational level. Document conferencing and networking, support documentation, version control and plan consolidation produce a comprehensive framework for corporate planning. Ease of controlled change and cross referencing creates a more responsive and flexible approach to planning and allows for more adaptive corporate management. Also, streamlining the planning reduces the administrative workload on senior executives.
Use FastTrack.net as a task management system that monitors business plan goals using electronic workflows to track milestones. Initiatives are linked to specific business plan goals and objectives. FastTrack.net provides email notification and escalation of tasks. By tracking the implementation of initiatives, you can better achieve business goals. And with escalation of outstanding tasks, you eliminate the need to micro-manage -- allowing team members to focus on core issues.
Governance KPI Monitoring
Use FastTrack.net company-wide for monitoring of key performance indicators (KPIs) reporting. KPIs are grouped by category with min/max targets and scheduling of recording with immediate notification when outside the limits. The pro-active notification of poor KPIs allows for immediate correction of causes reducing the effect otherwise resulting from waiting for normal reporting cycles.
From scheduling, forming and distribution of agendas and submissions to recording minutes and action items, the Management Meeting module is a one-stop-shop for efficiently managing board meetings and project meetings. Fast Track ensures the efficient and productive use of senior management’s time. The automatic follow-up and escalation of action items turns meetings into productive tools that deliver results.
Continuous Improvement & Innovation
FastTrack.net provides tools for actioning opportunities for Improvement (OFI), managing research projects and benchmarking, promoting internal innovation forums, and feedback reporting on success. Electronic workflows, conferencing and collaboration of information, and the in-build cross referencing to existing data provide an effective framework for driving innovation within an enterprise.
[What led you to select Fast Track?] "Flexibility – the ability to tailor the database to suit company needs e.g. we could select required modules but not have to purchase all, flexibility in field options for specific screens and workflow steps. Compatibility/ linkage – data from other corporate databases could be system downloaded to Fast Track. Capability & support – Fast Track’s team, while small, was very accessible in the initial negotiations and start-up." - CONSTRUCTION INDUSTRY COMPANY
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