A clearly defined hierarchy creates a path of accountability for every project and activity within the company. A hierarchy helps to establish efficient communication paths between employees, departments and divisions of the company.

The CFO is often the person responsible for ensuring authorities are established, communicated, understood and adhered to – especially when financial activities are involved. Without the establishment of clear authority levels and approval matrix within the organization, often no-one is certain who can or cannot approve any given task or activity which leads to inefficiency, uncertainty, and potentially costly errors – all of which create unnecessary risk.

As the CFO’s best friend, House of Control has developed a powerful and user-friendly solution to this problem as part of the Complete Control product range.

By digitalizing the company’s authority matrix, we help you establish the respective authority levels of every employee – through a user-friendly cloud application that is available to everyone. The application shows who has the authority to do what and provides a log and searchable history of all authority level changes.

This easy ability to manage and document the authority matrix makes it an essential tool for the effective governance and compliance within the business. For example, an accounts receivable associate reports to an accounting manager, who reports to the CFO. If the accounts receivable system is consistently reporting erroneous information, you can then follow the hierarchy of authority to determine who is responsible for the errors.