Satori Group offers a unique solution which incorporates a proven data analytics tool with the world’s first cloud based GRC product to create the revolutionary concept of “Data Driven GRC”. Use numbers, facts and figures to identify your organisation’s greatest areas of risk, so that you can properly allocate your resources to these key areas of improvement to maximise the value you gain out of your audits.
The Data Driven GRC solution revolutionises the GRC environment by providing users with a simple, easy to use product combined with a structured methodology to simplify the workflow for the busy modern day auditor. It is driving a change of mentality from traditional risk identification methods to a modern approach which leverages on the strength of technology. It is the forward thinking concept of identifying and monitoring strategic risk at an executive or board level by analysing transactional level business data.
Data analytics takes away much of the guesswork in audit planning and strategic risk identification. Remove the need to rely solely on experience and hunches to identify key risk areas. Use numbers and empirical evidence (i.e. data) to focus on what’s really important and back-up your decisions.
The Solution incorporates key areas of Risk Management, Electronic Workpapers, One Touch Reporting, Data Analytics and Exceptions Management to encompass the entire audit cycle.
Risk ManagementCreate and customise your audit universe, identify and categorise enterprise level risks, then assess these risks and have the solution aggregate the score and calculate the risk rating. Create dynamic heat maps and reports at the click of a button. Apply data analytics to clearly identify areas of revenue leakage and high risk. Links directly into audit projects within the projects module for seamless transition between Risk and Audit.
Audit ProjectsAudit Executives can plan and observe progress and track all audits. Using the electronic workpapers module, auditors create efficiency and accuracy with automation. Avoid common pains such as version control, multi-user access to data, and continuous copy-paste requirements. Engage stakeholders within the business with the fully integrated action tracking function to avoid the hassle of email communication.
Manage outsourced or co-sourced external audit partners through the Solution, and drive costs down as they can operate remotely through the cloud system.
Store all your methodology, data, backup documentation, communication and workflow in a single repository to retain knowledge within the department. Create automatically generated Audit Reports, Findings Summary, Risk/Control Matrix Framework, and other reports straight out of the solution to save time and avoid copy-paste errors.
Data AnalyticsExtract data from any source and create tests which question data behaviour. The truth is in the numbers, and auditors can identify key patterns to actively add value to the decision making process.
Why is staff turnover so high for this particular business unit?
Why has this employee made so many expense claims?
Why are there so many credit notes against this particular vendor?
Why have there been so many refunds at this store?
These are all examples of questions which should raise alarm bells and drive the direction of the audit plan.
Exceptions ManagementData Analytics not only drives Risk, but can be used as test results in audit projects. Once the testing has been completed, auditors can assign relevant staff to manage the exceptions and track their progress, creating an all in one solution.
Report and Dashboard CreatorIn addition to pre-built out-of-the-box reports, the report writer module allows for creation of customised reports and dashboards. Use the simple “drag and drop” feature to build reports with specific information which draws data directly from the system. Customise the look and feel of the reports to suit your organisational needs, and include visually appealing features such as charts and graphs for easy access to information.
Similarly, dashboards can be created with ease, giving users the freedom to quickly view information which are important to them. All sections on dashboards can be drilled down to access further details.
It’s MobileCompatible with free apps from the Apple Appstore for all iOS devices. Now auditors can fully utilise the cloud environment by dynamically updating their work in real time while doing site audits.