Automated Financial Governance

Large and complex businesses operate on multiple IT systems across Finance, HR, Payroll, Procurement, Sales, and Operations. Gaining assurance of the data, processes, and controls within these systems is a near impossible task using manual checks or relying on audits, system controls, and reports. Companies can lose between 1%-5% of annual revenue due to errors and fraud across their financial processes. Whilst ERP systems can provide many of the needed controls, these are often not adequate or poorly implemented to provide the assurance required for peace of mind. Routine external or internal audits in most cases only provide limited analysis of the control environment at a point in time. These are reactive in nature and do not support a continuous improvement mindset. Placing reliance solely on audits and manual checks provides limited visibility to the executive team and limits the opportunity for continuous business improvement.