SatoriCOI

Conflict Of Interest

Automated monitoring of transactional and Master File data provides 100% assurance to the senior executives and the board that these risks are being managed effectively.  

Satori Service as a Solution

Collusion or Conflict of Interest (COI) can seriously impact your business operations and result in financial loss, fraud, and loss of reputation.

Due to the complexities associated with Conflict of Interest in an organisation, often the monitoring of COI risks is ad-hoc.  Methods applied to monitoring are typically manual checks based on a sample of transactions resulting in limited assurance to senior executives and the board. Some organisations have adopted an attestation approach. Whilst this approach can be more automated by the use of electronic questionnaires, it is still not data-driven, leaving responses open to be manipulated to cover up potential COI. Our COI solution delivers automated, continuous monitoring of these risks and 100% peace of mind.

Continuous Improvement

Address exceptions in a timely manner

SatoriCOI ensures exceptions are addressed in a timely manner, daily, weekly or monthly. Exceptions that are presented to the business due to an annual review may not be relevant at the time of reporting, making it too late to take meaningful action.

Rather than following up on a potential COI policy breach that happened months ago, SatoriCOI allows you to identify breaches as they happen. This allows you to follow-up immediately and dramatically improves your chances of remediation.

How it works

SatoriCOI automatically monitors COI risks within an organisation on a daily basis across multiple disparate data sources. Potential conflicts identified can then be investigated providing 100% assurance to the board that these risks are being managed effectively.

COI risks monitored

  • Employee/Vendor conflicts
  • Employee/Customer conflicts
  • Employee/Employee personal relationships
  • Gifts and benefits
  • Procurement
  • Contracts
Optimal Performance Satori APAC

Greater Assurance

SatoriCOI provides management with greater visibility of what departments and teams are doing to resolve and remediate issues that have been raised.

Our customisable case management and workflow engine is a key differentiator to standard exception reporting, providing managers with greater assurance that these potential risks are being addressed.

What is included in SatoriCOI

Quarterly Reports

High-level system performance and identification of areas for control, policy or process improvement summary

Environment

SatoriCOI includes server, software, Installation, and maintenance of software.

Implementation

Implementation of initial tests with configuration of your workflow and visualisation.

User training & Management

Best practice end user training to close exceptions and operation of the solution.

Daily Health & Admin

Satori becomes your System Admin Manager and provides daily health checks on the server and data loads.

Ongoing Refinements

We work with you on an ongoing basis to refine your tests, ensuring the exceptions are delivering the required outcome.

Executive Dashboards

A realtime overview of what exceptions have occurred, what has been followed up and what is potentially overdue.

Additional Tests

We work with you on data quality improvements and new tests to increase coverage or cover gaps on controls.

Local Support

The Satori Customer Success and Support team are APAC based providing support even through holiday seasons.

SatoriCOI for every scenario

Employee/Vendor Conflicts

  • Vendor details matching Director or Employee details
  • Vendor details matching Employee Next-Of-Kin
  • Vendor Director details matching Employee details
100% Re-assurance

Employee/Customer Conflicts

  • Director checks
  • Customer details matching employee details
  • Customer details matching employee next of kin
  • Customer director details matching employee details

Employer/Employee Personal Relationships

  • Director checks
  • Duplicate employee details
  • Matching bank accounts
  • Matching home addresses
Corporate Credit Card Monitoring

Gifts and Benefits

  • Vendor frequently gifting an employee
  • Vendor gifting multiple employees
  • Gifts over or always just under the allowable threshold

Procurement

  • Same purchaser and approver
  • Requisition approved almost immediately
  • Employee frequently purchasing outside of preferred supplier list

Contracts

  • Contract with no end date
  • Contracts renewed without tender process
  • Contract continually renewed more than X times with same supplier

“We created SatoriCCM to change people’s behaviour, create a culture where the rules are being implemented…of being mindful with a company’s money and set the tone for the organisation”

Gavin SteinbergCEO

WEBINAR

Managing Conflict of Interest at the University of Queensland

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TRUSTED BY OVER 200+ ORGANISATIONS

“I would recommend the Satori tool to any organisation that wants to be on top of their game by having the ability to be warned and protected 24/7 *365 days a year. 100% testing run daily on high-risk assertions wouldn’t be possible without this tool doing its magic in the background.”

Yuliya Gultekin - Manager Audit and Assurance, Risk and Assurance TeamWaka Kotahi New Zealand Transport Agency

“Satori takes our data, puts it through their magical system, and presents it back to us in an actionable format.”

Principal Fraud and Corruption ControlGovernment Utilities

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