...does that mean that you have good systems and processes?
you can do it for a short period of time or on a few products IF the few people involved are all committed to doing the right thing and they can do the right thing. It is relatively easy to have undocumented 'systems' in small companies or in isolated functional teams. However, to replicate and/sustain that level of quality as the organization changes (growth, turnover, change in organization mission, etc.) will require more 'formal' systems and processes...in my experience.