There must be consensus in the defined future state before entities can determine the factors critical to achieving this state. This article will review the strategic planning components of establishing future state attributes and critical success factors. These concerns are somewhat legitimate. Some WEDI insiders believe that changes to the deadlines for some of the transactions are possible. There is likely to be some tweaking of the existing and proposed rules during the next two years, but the need to comply is not seriously in doubt.
Entities have the option of committing to a range of future state attributes.
Even a minimal compliance strategy merits senior management consensus on the attributes of the associated future state. Accomplished compliance on time and within budget. Done effectively and efficiently. The assessment and subsequent implementation processes minimized redundant processes, rework efforts, risks and costs. Reduced the core transaction costs.