The Finance Department is well positioned to use data analytics strategically. Consider the amount of information that is collected regarding customers, vendors, supply chain to name a few within ERP systems that is not fully utilized. With increased information comes the need to capitalize on a well-positioned analytics capability. With the use of technological tools, organizations can gain a better insight into customer insight thus allowing for strategic planning..

With the importance of the usage and storage of electronic information, security concerns cannot be underestimated. Organizations have realized the importance of protecting competitive information, the privacy of their clients as well as ensure that the regulatory, and legislative requirements are adhered to. An investment into information security is important to assist in maintaining confidentially, and integrity of information within the organization.

Organizations use strategies as part of their business operations. Strategy should lead the direction an organization wishes to achieve. Before beginning strategic planning an organization needs to define the strategic statement, that is the direction it wishes to take. As part of basics an organization will need to define its mission statement, values, vision, strategic statement, and establish a balanced scorecard. It should be based on what makes the organization from others. The strategic objective set should be timely, measurable, and specific.

In any organization, a clean desk policy is important to ensure that confidential information is stored securely when not in use of a desktop when not in use. This is a basic fundamental practice in order to reduce information security breaches in the workplace. Often at times, organizations do not have a formally coded policy that requires documents to be securely stored under a key at a user’s desk. As a result, the organization is opening itself exposed should confidential information be taken from a user’s desk. Policies are often implemented after a security breach as resulted that has resulted.