Process Mapping = never forget how to do a transaction and constant audit
by CTMfile
The problem with repetitive tasks, particularly with complicated transactions, is that you forget how to do them after a holiday or if you only carry them out occasionally. This a nightmare for the operators in the corporate treasury department and also for the auditors because they cannot be sure deals are made and settled correctly.
IT2 Treasury Solutions have used Process Mapping (PM) since 2003 not just for mapping all the processes in the system, which is typically the bulk of the Treasury Audit Report, but as an integral part of all processes. The operators start with a map of the whole system:
Source: IT2 Treasury Solutions
Then the operator clicks on a particular function and a detailed Process Map opens - see the detailed process map for Payment Release and Tracking below.
Source: IT2 Treasury Solutions
And then just follow the process flow chart.
No wonder operators on IT2 don't worry about forgetting the precise details of how to carryout particular transactions. Also some of the corporate treasury departments using IT2 no longer maintain a Treasury Audit Manual, their auditors just check the actual IT2 Process Maps.
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- This item appears in the following sections:
- Operations
- Control & Compliance in Operations
- General Treasury Systems