Removal of external oversight should encourage you to strengthen your internal processes. When your overseer says that they trust you enough to stop monitoring you formally, they are telling you that their goals aren’t changing and that they approve of the service that you are providing. In order to deliver the same service that you need to step up to fill the gap in quality control and communications left by their departure.
Your processes should be lean. You should have as few of them as you can. But you should change your processes carefully and scientifically. I regularly see otherwise capable people who view oversight as an examination of their abilities, and that once they have passed they can do whatever they please. They interpret the end of formal oversight is a signal to remove “the overhead” of the practises that won approval in the first place. Of course this often leads to a crisis that results in the arrival of a consultant like myself.
Business Intelligence doesn’t have to be hard. But if you think that requirements, design, documentation, testing, release management, and operations are all overheads that need to be removed, then you’re likely to waste vast amounts of time in development and then deliver the wrong product. Methodical processes are reliable and efficient. Are they boring? That question is irrelevant and immature. They are part of the path to success. Our customers pay us to be productive and successful, not to compensate us for the many pains of failure.