by Rick Brenner
Much of the software quality knowledge within software companies applies not only to their software products, but to their financial models and reporting tools. Transferring that knowledge from the Software Quality organization to the Finance organization requires translation of terminology and an understanding of cultural differences, but once these are achieved, software companies can harvest additional value from their Software Quality organizations.
Software companies are specially advantaged with respect to financial process improvement. Financial professionals use spreadsheet applications to manage financial reporting and budgeting to construct documents and models that are used to allocate resources and to make enterprise decisions. Although it's not widely recognized, these documents and models themselves are software. As such, their authors face many of the problems that software developers face. Financial professionals in software companies have a distinct advantage, because they can draw on in-house expertise to improve the quality of the software-intensive components of the financial management process.
Much of the software quality knowledge within these companies applies not only to their software products, but to their financial models and reporting tools. Transferring that knowledge from the Software Quality organization to the Financial organization requires translation of terminology and an understanding of cultural differences, but once these are achieved, software companies can harvest additional value from their Software Quality organizations. This line of thinking leads us to these questions:
Peer Reviews. Financial managers rarely conduct peer reviews of financial models. Quality professionals can help to develop checklists and procedures suitable for reviewing spreadsheet-based work products.
Configuration Management. It's common for financial managers not to number the versions of spreadsheet tools and models they create. Source control systems are unheard of. It's perhaps then not surprising that large organizations sometimes find that, upon trying to roll up the budget inputs of a number of departments, some of the work has been done on spreadsheet forms that were supposedly withdrawn and superseded. Software quality professionals can help financial managers develop processes that ensure that such problems appear much more rarely.
We can begin with education. Software quality professionals can learn about the special requirements of financial processes, particularly in the spreadsheet environment. This effort will have immediate payback, even within the software development organization, where spreadsheets are also used. Financial professionals can learn about how much of what they do can actually benefit from a software-centered quality approach. We can make a good beginning by developing assets for use by quality professionals when they use spreadsheets, and then making them available generally within the organization. These ideas provide another way for quality professionals to provide added value to their companies.
Contact me to discuss your specific situation, by email at rbrenner@ChacoCanyon.com or by telephone at (617) 491-6289, or Toll-free at (866) 378-5470 in the continental US.
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