CFOs Preparing for Up to 30% Decline in Revenue

May 12th, 2020

Gartner, the world’s leading research and advisory company survey shows 51% of CFOs Are Preparing for Up to 30% Decline in Revenue This Year Due to COVID-19.

A survey of 145 CFOs and senior finance leaders on April 12, 2020 revealed 51% of respondents said they were preparing for a revenue contraction of up to 30% this year due to the coronavirus pandemic. Twenty-eight percent of respondents believe the impact to their organization’s revenue could be higher than 30%. “Most CFOs have told us they are using the most severe downside scenarios to inform their decisions right now. This is leading CFOs to consider drastic cost management actions across April and May”, said Alexander Bant, practice vice president, research, for the Gartner Finance Practice. “When CFOs were asked how these downside scenarios are impacting their ability to fund long-term growth investments,  70% of CFOs said they are now showing caution in this area.” 

For more information on the Gartner Survey visit the Gartner Newsroom.

Guidelines for Engagement

March 24th, 2020

Building Success through People

The term “people engagement” has been around for a couple of decades and is an often used buzzword, yet many organizations and managers are not entirely sure what it means. People engagement means much more than being present as an employee; it means making an active contribution, feeling genuinely valued and achieving quality outcomes for your organization.

Two ISO standards on people management have undergone an update to include useful steps on how the value of an employee can be enhanced, extended and nurtured. ISO 10015 has become Quality management – Guidelines for competence management and people development, and ISO 10018 is now Quality management – Guidelines for people engagement. Both International Standards present practical steps for managers and leaders to follow, adopt and measure. These standards are designed to be regularly referred to and not simply handed to employees in binders and then left to gather dust on the shelf.

Engaged organizations will have well-thought-out ways of developing their staff. Their aim is to have people there for a career, not just a job. Successful organizations often provide opportunities for staff to move to different areas within the organization to learn new skills and enhance their expertise. These important guideline documents are scheduled to be published in April 2020.

Information Security Management System Auditing

February 17th, 2020

In an age of increasing data usage and the risk of information security breaches and cyber-attacks, the benefits of an information security are clear. Not only can it help to minimize the chance of such breaches occurring, it can reduce the costs associated with keeping information safe. Many organizations do this with the help of an information security management system (ISMS). The international guidance standard for auditing an ISMS has just been updated.

ISO/IEC 27001 is one of the world’s best-known International Standards for the requirements of an ISMS, part of a series of standards designed to help organizations manage the security of their information.  One of the standards that has just been revised in that series, ISO/IEC 27007, Information technology – Security techniques – Guidelines for information security management systems auditing, provides guidelines for effective audits of ISMS to ensure they are as robust and competent as they are intended to be. It has just been revised to ensure it remains fit for purpose and align it with updates to its complementary standard, ISO 19011, Guidelines for auditing management systems.

The standard provides extensive guidance on auditing the requirements stated in ISO/IEC 27001 as well as on the competence of ISMS auditors. It is also intended to be used in conjunction with the guidance contained in ISO 19011.  You can purchase the newly revised ISO/IEC 27007 at the ANSI Web Store.

Medical Device Risk Management

January 16th, 2020

This just revised ISO standard promotes the safety of devices and equipment used for medical purposes.  It covers the risks of injury related to the health of patients, the operator and other persons, as well as potential damage to property, equipment and the environment.

ISO 14971, Medical Devices – Application of risk management to medical devices, specifies the terminology, principles and process for managing the risks associated with medical devices, including software as a medical device (SaMD) and in vitro diagnostic (IVD) medical products. ISO 14971 helps manufacturers to identify the hazards and estimate the risks associated with a medical device, enabling them to control those risks and monitor the effectiveness of the controls they put in place.  

ISO 14971, Medical Devices – Application of risk management to medical devices can be purchased at the Techstreet Store.

Service Management Frameworks

December 5th, 2019

Saving money, pleasing customers and getting the most out of technologies are just some of the benefits of an IT Service Management System (SMS). A new handbook provides guidance on how to get the best out of an SMS in your organization.

ISO/IEC 20000, IT Service Management – A practical guide enables the implementation of practices that are beneficial and add value to an organization in a clear and proficient manner. It is descriptive and inclusive, as it takes into account the specific needs of an organization and allows them to adapt it how they see fit.

Implementing an SMS in a structured way brings many benefits to an organization such as greater efficiencies and improved customer relations.  This new handbook shows how ISO/IEC 20000 is relevant in today’s digital environment and how it fits nicely with popular SMS methodologies such as Lean, Agile and DevOps.

You can purchase ISO/IEC 20000, IT Service Management at the ANSI Webstore.

World Quality Month is Here!

November 10th, 2019

November is World Quality Month! 

It is a worldwide celebration of quality. It’s a time to showcase the advancement and valuable contributions quality professionals make in businesses, communities, and institutions.  This month allows all to shine a light on the industry and the individuals striving to provide excellence through quality.

Visit the World Quality Month Website for current and ongoing information to be posted throughout the month of November.