Eight Pillers of an Effective Quality System
Posted on Mon, Feb 06, 2012
In the traditional compliance approach, Quality Assurance and Compliance are backroom cost centers, piling on non-value added requirements that detract from the company’s ability to innovate and be profitable.
Eight Pillers of an Effective Quality System
As Quality Management Systems evolved over the years, they became more advanced. Deeper workflow, more intelligence, better best practices and greater visibility all enhanced the level of data coming into the system.
But as this data flooded in, filtering and organizing the data became an issue. Organizations needed a systematic way to objectively evaluate and make informed decisions.
With the advent of integration, more and more business systems are talking to each other and communicating about the data going through the systems. Information technology becomes a strategic asset when it makes the entire business adaptive and ready for change. Integration of business systems with Quality Assurance and Compliance is complex and requires the devotion of significant time.
If complications arise in this process, companies could potentially experience supply disruptions, order cancellations, loss of product placement and charge-backs as a result of late deliveries. For senior level executives, the focus is on mitigating these risks by taking certain measures; including increasing internal staffing or hiring competent outside consultants in key areas in order to effectively manage upgrade and integration activities.
Information technology has become a strategic asset when it makes the entire business adaptive and ready for change by connecting people, process, and information to drive results. How an organization measures the results of its technology investments is important, because the continuous improvement of any function requires a clear way to measure performance against goals.
The strategic value of IT, therefore, becomes clearer when executives move away from Industrial Age metrics and toward a more holistic assessment of return on knowledge. In fact, better measurement of the return on IT investments can yield strong overall financial returns. Companies that excel at managing the value of their IT investments outpace their peers in overall financial performance.
Companies that better manage the business value of IT—including governance, portfolio management, and other IT management tactics—have 49 percent higher net profitability than their peer group. How does a company move compliance from a traditional approach to a fully effective quality system that is not only compliant but efficient and integrated to key business processes?
Executives know that best-in-class compliance is an opportunity for market differentiation and the ability to integrate key aspects of the business with Quality Assurance and Compliance elevates compliance beyond execution and achieves strategic advantage.
Subscribe to our blog