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Finance Audit & Compliance

Monitor, Govern, Improve Your Finance Ops

Optimize financial operations with robust audit and compliance solutions. Detect risks, ensure regulatory adherence, prevent fraud, and streamline processes for enhanced transparency, cost savings, and operational efficiency.

Monitor, Govern, Improve Your Finance Ops

Challenges

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.

Common Pitfall

Data and Documentation Issues

  • Incomplete or incorrect purchase orders.
  • Outdated or incorrect vendor master data.
  • Manual data entry errors.
  • Duplicate or overlapping purchase orders.

Process Delays and Inefficiencies

  • Delayed approvals.
  • Vendor onboarding delays or lack of orientation.
  • Untracked delivery performance, causing delays in invoice matching.
  • Lack of automation in invoice matching and processing.

Financial and Payment Issues

  • Duplicate invoices.
  • Missed discounts due to late payments.
  • Currency exchange errors for international suppliers.
  • Invoice payments not adhering to agreed-upon terms.

Compliance and Contract Management

  • Vendor/supplier non-adherence to compliance requirements.
  • Unclear contract terms leading to misinterpretations of payment terms or penalties.
  • Inconsistent tax compliance or missing tax information on invoices.

Communication and Relationship Management

  • Miscommunication or unclear instructions to vendors regarding invoice submission.
  • Inefficient collaboration or feedback mechanisms to resolve discrepancies quickly.

Governance and Oversight

  • Insufficient audit trails for tracking invoice and payment statuses.
  • Lack of effective feedback loops with vendors on rejected or flagged invoices.
  • Limited vendor pool creating over-dependence on single vendors.
Audit Findings Remediation Rate
Audit Findings Remediation Rate
80%
Regulatory Fines and Penalties
Regulatory Fines and Penalties
$500K
Internal Control Deficiency Rate
Internal Control Deficiency Rate
5%
Time to Close Audit Findings
Time to Close Audit Findings
>30 Days
Compliance Monitoring Efficiency
Compliance Monitoring Efficiency
75%
Duplicate Invoices Percentage
Duplicate Invoices Percentage
>5%

financial services consulting

Our Solution

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.​​​​‌‍​‍​‍‌‍‌​‍‌‍‍‌‌‍‌‌‍‍‌‌‍‍​‍​‍​‍‍​‍​‍‌​‌‍​‌‌‍‍‌‍‍‌‌‌​‌‍‌​‍‍‌‍‍‌‌‍​‍​‍​‍​​‍​‍‌‍‍​‌​‍‌‍‌‌‌‍‌‍​‍​‍​‍‍​‍​‍​‍‌​‌‌​‌‌‌‌‍‌​‌‍‍‌‌‍​‍‌‍‍‌‌‍‍‌‌​‌‍‌‌‌‍‍‌‌​​‍‌‍‌‌‌‍‌​‌‍‍‌‌‌​​‍‌‍‍‌‌‍‌​​‌‌‍​‌​‌‍​​‍​‌‌‌‍​‌​‌‍​‍‌‌‍‌‌​‍‌​‌‌‍‌‌​​‌‌‍‌‍​‍‌​‌​‌‍​‌​‌‌​​‍​‍‌‌‍​‌‌‍‌​​​​‍‌​‍‌​‌‌‍​​‍​​​‍​‌‍‌‍‌‍​​​‌‍‌‍​‌‍​‌​​‌‍​‌​‍‌‌​‌‍‌‌​​‌‍‌‌​‌‌​​‌‍​‌‌‍‌‌‍‌‌​‍‌​​‌‍​‌‌‌​‌‍‍​​‌‌​‌‍‌‍​‌‌‌‌‌​‌‍‍‌‌‍‌‍‍‌​​‌‍​‌‌​‍‌‍‌​‌​​‍‌‌​‌‌‌​​‍​​​​‍‌‌​‌‌‌​‌​​‍‍‌‍​‌‍​‌‌​‍‌‍‌​‌​‌​‌‍‌‌‌​‌‍​‌​‍‌‍‍‌‌​​‌‌​‌‍‍‌‌‍‌‍‍​‍​‍‌‌

Source Systems Supported

Accounts Payable Overview
Accounts Payable Overview
Enhance accounts payable processes with actionable insights into purchase orders, invoices, overdue payments, and automation rates. Improve compliance, reduce manual effort, and optimize delivery performance to achieve seamless procure-to-pay operations.
Overdue Payments
Overdue Payments
Analyze overdue invoices by vendor and purchase organization to identify missed discounts, penalties, and late fees. Enhance supplier relationships, prevent cash flow issues, and implement strategies to ensure timely payments and minimize financial impact.
Late Payments
Late Payments
Uncover the root causes of late payments with a detailed analysis of delayed invoices, payment trends, and financial impacts. Address recurring delays, streamline workflows, and improve on-time payment rates to maintain economic stability and vendor trust.
Audit Duplicate Invoices
Invoice Audit
Identify duplicate invoices by vendor, supplier, and region to reduce overpayments and financial discrepancies. Strengthen internal controls and streamline auditing processes to ensure accurate financial records and prevent compliance risks.
Finance Compliance
Finance Compliance
Detailed financial reports address unauthorized spending and compliance violations. Align financial processes with regulations, reduce risk exposure, and maintain operational integrity while fostering stakeholder trust.

Features

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%

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.

30 Days Free.

Our experts will guide you and uncover actionable process improvement opportunities by seamlessly integrating with your source systems in the trial instance.

Business Review.

We offer solution walk-throughs and process improvement insights, enabling you to evaluate and validate improvements, ensuring measurable return on investment. Experience impactful results tailored to your business needs.

Grow Your Business.

Now that you have validated the solution and business benefits, you can focus on running your business and staying ahead of the competition.

Why Ennuviz?

50+ Years of Technology Expertise

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

10K Processes Modeled

We have effectively assisted organizations in delivering 10K+ Process Models to improve Adoptions and 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.

15+ Versatile Connectors

You aren’t limited to connecting only your SAP systems; our connectors allow you to connect to most enterprise source systems.

50+ Prebuilt Transformations

Our Prebuilt Transformations deliver Clear visibility over your process, covering your array of enterprise source systems. Not just SAP.

100+ Process Mining Apps

Our Process Mining Apps support SAP and non-SAP source Systems and cover a wide variety of use cases. They are simple to install and ready to optimize.

Migration

Migrate your existing Process Mining solution from tools like Celonis to SAP Signavio Process Intelligence, saving 70% migration effort.

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