Significance of Process Control

AuditBOT Process Control helps organizations to manage their compliance processes more effectively. The objective of Process Control is to provide automated risk and control monitoring, testing and analytical capabilities across the entire enterprise and to improve the overall compliance program's effectiveness.

PROCESS CONTROL CHALLENGES

  • Businesses lose an estimated $3.5 billion annually to fraud and financial crime, according to the Association of Certified Fraud Examiners.
  • Process control is a key to improving efficiencies around business processes, enhancing visibility of business risks and increasing operational effectiveness in SAP system.
  • Lack of Process control lead to fraudulent postings in SAP systems resulting loss of revenue and higher compliance cost.
  • Manual adoption of Process control is a waste of human resources and time resulting in increased process compliance risk.
  • A Good Process control solution with successful implementation is a key to fight against financial fraud.
  • Process control solution from Leading vendors is very expensive these days.

Our Solutions Provides

1

Cost

Reduced costs by cutting down the resources required to control and address risk

2

Effective

Repeatable, cost-effective controls and testing

3

Visibility

Increased visibility of risk interdependencies

4

Effectiveness

Increased confidence in the design and operating effectiveness of controls

5

Framework

Sustainable, flexible, visible, automated controls framework

6

Risk Reduction

Systematic process for anticipating and controlling risk

Key Benefits

40+ process controls in various business modules

40+ process controls in various business modules

Automatic alert notifications and report on master data, business transactions and SAP configuration changes or exceptions occur

Automatic alert notifications and report on master data, business transactions and SAP configuration changes or exceptions occur

Increased visibility into the impact of risk against performance

Increased visibility into the impact of risk against performance

Reduced risk and cost across risk and control management objectives

Reduced risk and cost across risk and control management objectives

Increased strategic effectiveness through automated monitoring of risks and controls

Increased strategic effectiveness through automated monitoring of risks and controls

Increased transparency around business processes through consistent reporting on control status

Increased transparency around business processes through consistent reporting on control status

Automation of control monitoring

Automation of control monitoring

Automation of policy management

Automation of policy management

Immediate Savings

  • Reduce Organization's overall compliance cost.
  • 100% reduction on fraudulent postings from 40+ process controls resulting millions in savings.
  • Up to 25% guaranteed savings on external audit cost.
  • 50% reduction on Labor resources responsible for compliance.
  • Quick RoI within a year by detecting one fraudulent posting over a million dollar.

AuditBOT has a better way to handle your SAP challenges

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