Optimize your auditing and financial processes with Finance Audit and Compliance

Industry Pain Points

Due to a lack of process transparency, insufficient audit tools, and inadequate monitoring, financial operations face the challenge of meeting financial compliance and operational efficiency. Hidden bottlenecks obstruct audit accuracy and require visibility to ensure compliance. The inability to pinpoint high-risk transactions and inefficiencies between human and system interactions gives financial analysts a hard time. Risk detection is yet another issue in financial processes. Continuously monitoring risks and compliance violations necessitates review controls.

Audit Findings Remediation Rate: 80%
Regulatory Fines and Penalties: $500K
Internal Control Deficiency Rate: 5%
Time to Close Audit Findings: >30 Days
Compliance Monitoring Efficiency: 75%
Duplicate Invoices Percentage: >5%

Our Solution

Our Process Mining solutions elucidate the clear processes, obstructions, risk factors, and the accuracy of processes in each point of the process

Finance Audit and Compliance

Financial transactions are usually fragmented and error-prone when handled manually. Manual and siloed workflows lack visibility, efficiency, and compliance. Our Finance Audit and Compliance solutions map the actual finance processes with scrutiny from various data sources, analyzing and visualizing the performance, bottlenecks, and deviations of the finance processes, using metrics such as cycle time, throughput, and costs. These metrics might be pre-defined or sometimes benchmarked based on process mining outcomes. It also quantifies the risks and opportunities in the finance processes.

Features

Accounts Payable Overview

P2P AP overview highlights metrics like PO/invoice counts, overdue invoices, automation, change, conformance, and on-time and late delivery rates for finance owners to optimize their process.

PO Open Overdue Payments

Offers insights on overdue invoices by purchase organization and vendor, highlighting missed discounts, late fees, and penalties

PO Late Payments

Provides analysis on late payments, detailing late invoice totals, payment rates, and amounts, with impact assessments and root cause evaluations for businesses.

Audit - Duplicate Invoices

Provides analysis on duplicate invoices by vendor, supplier, and region to find and fix process and control gaps, cutting overpayments.

Finance Compliance

Reveals compliance issues such as Maverick spending in finance operations, detailing order counts, violation rates, and cost impacts to ensure adherence to regulations and policies.

Accounts Payable Overview

P2P AP overview highlights metrics like PO/invoice counts, overdue invoices, automation, change, conformance, and on-time and late delivery rates for finance owners to optimize their process.

PO Open Overdue Payments

Offers insights on overdue invoices by purchase organization and vendor, highlighting missed discounts, late fees, and penalties

PO Late Payments

Provides analysis on late payments, detailing late invoice totals, payment rates, and amounts, with impact assessments and root cause evaluations for businesses.

Audit - Duplicate Invoices

Provides analysis on duplicate invoices by vendor, supplier, and region to find and fix process and control gaps, cutting overpayments.

Finance Compliance

Reveals compliance issues such as Maverick spending in finance operations, detailing order counts, violation rates, and cost impacts to ensure adherence to regulations and policies.

Benefits

Value of Duplicate Invoices: $74M
Value of Compliance Violations: $76M
Detected Non Compliance.: 3%
Discovered # of Violations: 1950
Compliance Effectiveness: 95%
Time to Close Audit Findings: <15 Days
Audit Findings Remediation Rate: 94%
Automation Rate: 10%

Why Choose Us

50+ Years of Technology Expertise

Our wealth of experience has equipped us with the proficiency to deliver exceptional services to you.

4K+ Processes Modeled

We have effectively assisted organizations with capable process modeling to enhance productivity.

50+ Certified Consultants

Our team, with extensive knowledge, provides the best service and support to meet your needs.

1000+ Tasks Automated

We have successfully automated processes with enormous results benefiting the organization.

Strategic Services for Your Success

Discover our array of expert services crafted to boost your business. From tailored consultations to efficient technology management, we're committed to driving your growth and ensuring success in the digital realm.

Finance Audit & Compliance

Enhance compliance, financial control, and risk management for various industries. It ensures SOP adherence, flags transactional deviations, detects unauthorized approvals and duplicate invoices, and optimizes invoice processing for better cash flow.

Incident Management

Harness data-driven actionable insight to streamline incident management, minimizing rework, reassigns, and SLA breaches, improving service quality and customer experience, and reducing costs ensuring customer satisfaction and loyalty.

Compliance Remediation

Boost SLA compliance and reduce material rejections by optimizing Master Data Management processes in the supply chain domain, optimizing process and data, and ensuring seamless workflow to improve overall performance and productivity.

Here’s how to get started

Effortlessly unlock business success by connecting with a dedicated Advisor, receiving a personalized Technology Roadmap, and focusing on business growth with your technology needs in capable hands.

Schedule a Call

Talk with a dedicated Advisor who can help you assess your company so that you can know exactly what your needs are.

Get a Free Roadmap

After your call, we will send you a personalized Technology Roadmap to help you discover the solutions that are right for you.

Grow Your Business

Now that your technology needs are being handled, you can focus on running your business and staying ahead of the competition.

Let's get started today

Because we put you first. Our customer-obsessed working model honors client's needs.

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Check out our latest insights

Apr 12, 2024

Nancy Elvira Manoharan

Cost-effective, transparent processes