"Wash away my sorrows, wash away my shame..." Three Dog Night
Fortune's cover screams "Business is back".
"No CEO dares say it, yet it must be said: The shaming is over. The 5 1/2-year humiliation of American business following the tech bubble's burst and the Lay-Skilling-Fastow-Ebbers-Kozlowski-Scrushy perp walks that will forever define an era has run its course. After the pounding and the ridicule, penance has finally been done."
And Rep. Oxley of Sarbanes-Oxley fame now says ""Frankly, I would have written it differently, and he would have written it differently," he added, referring to Sarbanes. "But it was not normal times."
Wish he had said that 3 years ago - but sounds like we are back to "normal times" after pissing away billions on gun-to-the-head compliance spend.
So, I had to double check James Governor's post - SAP's Governance, Compliance and Risk (GRC) is the "new ERP" to make sure it was not dated 5 years ago. Like DUET - a bit after its time?
But then I read it's not just about SOX. He goes on to talk about exposure to pollution and a whole bunch of other emerging social responsibility expectations. And I go, may be GRC is 5 years ahead of is time.
I mean I would love to see SAP's GRC being able to pinpoint
- which of my balance sheet items are hiding slush funds?
- which of my suppliers are using sweat shops around the world?
- which of my factories are potential Bhopals?
- what is the carbon emission from my facilities, my fleet etc?
So, I could go the Google mirror on the wall and ask "What shall I do tomorrow?’" and next to the SAP GRC mirror and ask "What risks will I be taking tomorrow?"
And then expect insurance payouts from both for not protecting me from various risks and eager lawmakers like Rep. Oxley.
In the mean time, I am glad I see the flowers in the mirror in my brother and sister's eyes. On the road to Shambala. Not going to be easy to shame or guilt corporations in to buying stuff.
