Bel Fuse, Inc.
Value Achieved in Internal Control Management[tabs style=”default”] [tab title=”Executive Summary”]
Business is complex. Exponential change in regulations, globalization, distributed operations, processes, competitive velocity, business relationships, and legal matters encumbers organizations of all sizes across industries. Relying on spreadsheets, documents, and emails to assess, audit, manage, and monitor internal controls leads to failures. Organizations need solutions for internal control management that actively engage and are useable at all levels of the organization, in addition to supporting the needs of audit, risk, and compliance professionals. Solutions that bring efficiency (both human and financial capital efficiency), effectiveness (accurate and auditable reporting), and agility (timely and relevant information when it is needed) are necessary. Bel Fuse Inc. (www.belfuse.com) is a high tech communications company that is engaged in the design, manufacture, and sale of products used in networking, telecommunications, high-speed data transmission, commercial aerospace, military, transportation, and consumer electronics. Bel Fuse evaluated and purchased Workiva Wdesk. Wdesk provides an innovative approach to managing control documentation, audits, and workpapers. GRC 20/20 has evaluated and verified the implementation of Wdesk at Bel Fuse and confirms that this implementation has achieved measurable value across the elements of GRC efficiency, effectiveness, and agility. In this context, GRC 20/20 has recognized Bel Fuse and Workiva Wdesk with a 2016 GRC Value Award in the domain of Internal Control Management.[/tab] [tab title=”Table of Contents”]
- Inevitability of Internal Control Management Failure
- Organizations Encumbered by Silos of Complexity
- Spreadsheets, Documents, and Emails, OH MY!
- Bel Fuse: Value Achieved in Internal Control Management with Workiva
- The Challenge Bel Fuse Faced
- Solution to Bel Fuse’s Problem
- Bel Fuse Achieved Value in GRC Efficiency, Effectiveness, and Agility
- GRC Efficiency Value
- GRC Effectiveness Value
- GRC Agility Value
- GRC 20/20’s Final Perspective
- About GRC 20/20 Research, LLC
- Research Methodology
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