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Optimising financial processes

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Business Process Transaction Monitoring CCM Strategy; Better Control in R2R Process; SAP Audit and Technology Survey and Infographic



In this issue: +++ Building the case for your Business Process Transaction Monitoring CCM strategy +++Better Visibility and Better Control in the Record to Report (R2R) process +++ SAP Audit Survey and Infographic on Internal Audit and the barriers to adopting technology+++

 

Building the case for your Business Process Transaction Monitoring CCM strategy

Continuous Controls Monitoring, Transaction Monitoring and Data Analytics are all related terms for techniques that help assure the operation of core business processes and identify exceptions to policy or expected norms to help drive incremental improvement. Some organisations have had great success with these approaches and driven substantial benefits, but the majority of organisations still struggle to build a sufficiently robust plan and business case to get executive buy-in.

Read the new case study here

Better Visibility and Better Control in the Record to Report (R2R) process

The Financial Close cycle remains the highest exposure for material weaknesses at audit time. Many of the key control points in the Close are still managed in Excel and require constant synchronisation, checking and rechecking throughout the process. Our recent Camelot case study “Financial Close – Accelerating, Assuring and Integrating the End to End Process” clearly showed how the Financial Close  Cycle can be optimised as an agile approach.

In the same context, you can read more from SAP Insider on the Dow Chemical experience In managing 250,000 account reconciliations each quarter, and their approach to drive better control, including auto-certification of more than 50% of key accounts.

Read more

SAP Audit Survey and Infographic on Internal Audit and the barriers to adopting technology

Adopting technology solutions to streamline Internal Audit processes is still  a rocky road. 54% of those surveyed stated that they believe that technology will fundamentally affect the way audit  services are performed and measured, while a similar percentage reported that the cost and implementation difficulties are major concerns in achieving the vision.

For more insight into the survey results and the related Infographic click here