How a telecom giant prevents risk an lowers costs with SafePaaS
Our client provides global telecom to 51 million customers in Africa and Latin America. The client's organization was segmented into various silos and business units. Each of these business units was running a single operating system on Oracle E-Business Suite. A few business units were on the cloud.
The client wanted to bring all of their manual controls out of spreadsheets and into a single dashboard that provided executives with visibility over risk and avoided audit surprises. Before using SafePaaS, they had many different ways of performing audit controls. But they couldn't combine data in a way that the external auditors and the audit committee were comfortable with.
One of the key drivers for the customer in selecting SafePaaS' Continuous Controls Monitoring solution was the ability to pull data from the sources where their controls were. SafePaaS enabled the client to merge data and start monitoring that data immediately on a dashboard.
The client operated in silos from a departmental perspective and a collaborative perspective due to their various disparate locations. Because of these silos, their governance team found it challenging to manage risk proactively. Additionally, avoiding surprises was difficult because they operate it in a high-risk environment. And they wanted to mitigate future risks and prevent risks from happening.
The client's governance team created a RACI matrix and a global collaboration team. They moved to a global process owner model, which not every company can do. If you're a company with many different segments of your business, you may not be able to do that. But because they cut their businesses primarily in the telecom and media space, they could bring together a global governance team with centralized accountability. And using SafePaaS as an agent of change to bring everything into a single platform, the governance team could then set global guidelines for invoice tolerance levels or approval hierarchies on journal entries, journal entry processes, and reconciliation standards.
Auditors also had multiple teams working in different regions, and they were not on the same page. The burden for the company, in this case, was cost, not just the current cost but also the future cost. By having their controls on a single platform, like SafePaaS, they could achieve a global standard that helped them reduce costs.
In today's business world, customers want agility. They want to be able to shut down a business unit if it's not profitable to open a new one that is trending, acquire companies, and diversify for example. For that level of flexibility, you need to have an automated solution, a scalable solution like SafePaaS. A key driver, for customers, in selecting SafePaaS is its ability to perform on a multi-platform. In this case, we were able to go against SAP and Oracle and provide the client with cross-functional capabilities as part of their roadmap in the future.