What your audit team can teach you about mining your business data for strategic advantage
Business leaders face unprecedented challenges today. Regardless of industry sector, you’re under immense pressure to demonstrate outstanding performance not only in terms of market growth, but also competitive advantage and accountability. To navigate this dynamic and complex environment, you’re expected to focus relentlessly on operational efficiency, cost effectiveness, productivity, customer connection and innovation.
Organizations today collect a broader variety of data at a greater velocity than ever before. The livelihood of any business relies on effective processing of often millions or billions of transactions. These not only include traditional accounting transactions—like payroll, T&E and P-card monitoring—but also transactions deep within your business processes and controls where information is exchanged between critical systems and applications. Putting a magnifying glass over transaction data (and the controls that manage that data) allows you to identify fraud, errors, abuse and inefficiency.
So, how do internal auditors do it? And, more importantly, how can you?
In this eBook, we’ll explore lessons learned from audit teams on how every area of the organization can leverage specialized data analytics to:
- identify and mitigate risk
- protect profits
- accelerate performance across all lines of business