Continuous Auditing to innovate business models & improve compliance.
Continuous auditing of your product enables product executives to continually:
• Review product strategy
• Set actions
• Improve the product
Skyjed contains a unique continuous monitoring process that uses artificial intelligence and machine learning to help you find growth opportunities and detect compliance and risk issues.
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If you’re using Skyjed for the first time, you may want to import your existing product strategy from an existing source.
If you don’t yet have a product strategy, no problem! Simply input a few thoughts and move on. You can come back and refine your strategy over time.
If you are commencing a subsequent audit for an in-market product, now is a good time to review your existing strategy to assess its ongoing appropriateness!
Documents required for the step:
Strategy from previous cycle
People/Teams you may want to invite:
Product managers, product owners, Product Team members
Now you are ready to start your audit!
Invite relevant team members to help you conduct your audit. Someone from risk, sales, marketing, operations – anyone who can contribute anything from data to insight to advice.
You decide who can contribute and how much control you wish to delegate.
Ideal for remote and virtual working.
Documents required for the step:
Emails of your virtual team members
People/Teams you may want to invite:
Optional
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Conduct your product audit by inputting information and selecting ratings for each of the information input drivers in each of the 5 domains. You can also ask your virtual team to contribute information and review ratings.
As you progress through your audit you can periodically check the progress of your product’s heath score by clicking on the insights tab at the top of your workspace.
Once you have finished inputting all your driver data, you’re ready to hit the button and publish your audit. You are now ready for step 4.
Documents required for the step:
See Skyjed Domains Framework
People/Teams you may want to invite:
Product Managers, Risk Team, Regulatory Team, CX Team, Marketing Team
Step 4: Review and assess your health check insights
The Product Health Check is a product review. It is a forward-looking assessment of your product at a point in time. This assessment provides you with a calculated product health score and risk profile.
Skyjed presents your product health check score in a simple, visual format with a percentage rating and a colour coded meter to show positive and negative growth potential.
With the insights presented in the product health check, you’re now ready to build your action plan.
Documents required for the step:
Skyjed Audit page in your product
People/Teams you may want to invite:
Stakeholders, board members, head of product management
A Skyjed action plan is a detailed plan outlining the actions required to reach your product vision and metrics. It is the step by step plan of what’s needed for your product strategy to succeed.
Setting an action plan can help you turn your vision into reality and increase efficiency and accountability in your organisation. Action plans encompass both strategic and risk based actions.
Actions include information such as:
• What is the objective for the action
• Who will carry out the action
• What is the severity / priority
• When is it due
As well as providing communication throughout the team about what is happening, built in notifications allow you track the status or completeness of the actions.
Documents required for the step:
Skyjed Audit page in your product
People/Teams you may want to invite:
Product team
Monitor commercial and non-financial metrics
Track product data and performance in a central place and allow data access to different teams.
Manage regulatory obligations
Create a list of relevant product regulatory compliance requirements and update when they change.
Analyse technology trends and industry structure
Make better decisions by defining external factors such as technology trends and adjacent and substitute products.
Generate real-time health check reports
Automated product reports in real-time to share with teams, management or business leaders. Use our reports or create your own.
Invite non-product teams to help
Create a product portfolio and invite contributions from team members across the business - from marketing and commercial teams to regulatory and risk.
Store, filter and search
Publish your product insights and filter by key word, owner, health status at the click of a button.
Drill down analysis
Automated product risk reports where you can click to drill down on the root cause of a risk rating
Share product updates
Take the pain our of preparing for monthly, quarterly and annual strategy updates with automated health-check snapshot for management.
Monitor commercial and non-financial metrics
Track product data and performance in a central place and allow data access to different teams.
