Paychex business units are actually asking for peer reviews, says Frank Fiorille, director of enterprise risk management. “It’s structured like an audit, but it’s not,” he says. The three-week review by colleagues who are released from their jobs in areas such as finance, treasury, legal, operations and sales “produces a report like a ratings report that has good statistics on that business,” Fiorille says. The peer reviews have yielded more than 800 tactical recommendations that have resulted in significant revenue generation or cost-cutting.
Treasury & Risk | October 28, 2010 | With Maureen Callahan