Companies are spending millions of dollars developing and documenting their processes, policies and controls, yet have little visibility into whether they are being followed because they cannot cost-effectively monitor and test them. Infor d/EPM Controls and Risk Monitoring automates the testing and monitoring of these controls.
Infor d/EPM Controls and Risk Monitoring applications automatically identify exceptions and control breakdowns in key application systems. By finding and correcting issues immediately organizations reduce risk, automate compliance obligations, and eliminate waste.
- Reducing risk of financial reporting errors
- Identifying, preventing, and reducing cash leaks
- Ensuring policies and processes are cost-effectively enforced
- Reducing time and costs of compliance obligations and external audits
- Improving quality and efficiency of internal audit processes
- Addressing audit finding IT security.
- Improving efficiency and effectiveness of managing user access rights and lifecycle
- Pushing ownership/responsibility for user access rights to business users
- Addressing audit findings
Impact of automated controls monitoring.
- Reducing audit and compliance fees
- Identifying accounting errors
- Eliminating cash leaks
- Mitigating excessive risk
Continuous Auditing and Continuous Monitoring.
Continuous monitoring solutions support the needs of finance organizations to improve overall financial governance while enabling audit organizations to implement continuous auditing programs.
Continuous Monitoring. Ensure that financial controls operate as designed and that transactions are processed appropriately. By identifying exceptions and control violations as they occur, finance people are able to address issues.
Continuous Auditing. Eliminate manual sampling by automating the way internal auditors test controls. By testing 100% of transactions and monitoring controls continuously, the solutions reduce audit costs while increasing the overall quality of audit.
Inford/EPM Controls and Risk Monitoring is the only solution that enables finance, audit and IT users to share a common platform to independently monitor their key controls across all of their key applications.
Exceptions can be investigated directly in the solution. Intuitive interface enable users not only to flag exceptions but also to drill around the data, get a 360-degree view of related information, collaborate with other stakeholders, and resolve issues from within the application.
Personalized reports and configurable dashboards give users a real-time snapshot that tailors information to individual audiences and business goals.
Intuitive all-in-one interface: Users can identify, investigate, analyze and resolve exceptions within a single interface.
Out-of-the-box analytics: Get started quickly with a comprehensive set of out-of-the-box rules; menu-driven interface makes it easy to create and edit rules.
Collaboration: Collaborate with other stakeholders to discuss exceptions and document follow-up to support audit obligations.
Monitors and correlates multiple controls.
Infor d/EPM Controls and Risk Monitoring is the only solution with out-of-the-box content that monitors and correlates all four control types for multiple applications and all major business processes.
Lower procurement costs: A telecom company reduced expenses by $2 million by flagging purchases that did not take advantage of available discounts and preventing unnecessary purchases that circumvented corporate policies.
Improved order accuracy and on-time shipments: A manufacturer of construction materials reduced the number of sales orders that were delayed and required manual re-work by 60%.
Reduced accounting errors: A manufacturer in the midwest United States reduced the number of financial reporting anomalies requiring manual follow-up and investigation by more than 50%.
Lower audit and compliance costs: The internal audit organization of a $1 billion software company reduced the time their external auditor spent testing their controls by 80% for each key control that they automated.
Reduced risk of fraud: A home improvement retailer reduced the risk of employee theft by monitoring the distribution of free samples to identify suspicious orders, excessive shipments, and samples with alternate ship-to addresses.
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