1. Visual controls. These include checklists, dash boards, scorecards, budgets, etc. They let you SEE that the right things are happening, of if not, they raise a flag that lets you make sure to focus on fixing the situation.
2. Procedural controls. These include things like having 2 unrelated parties internally check/be involved in the flow of money. Your standard review process for all new hires. Your standardized sales concessions you empower your sales team to use.
Procedural controls establish a known pathway to a consistently secure result.
3. Embedded controls. These are the controls that work without someone having to remember to do something out-of-the-way to use them. These include things like your standardized contracts, automated data backups, and intentionally designed financial controls that work automatically in the background to protect your business from poor decisions or behavior.
