Learn how one of our clients implemented SafePaaS to reduce and mitigate risk ultimately saving them thousands of dollars.
Key Facts about Client
- An S&P 500 company.
- In addition to US properties, both onshore and in the deep water Gulf of Mexico, the company has operations in West Africa, Israel, The North Sea, Ecuador and China.
- Reviews of Segregation of Duties time consuming and inefficient.
- Current internal control testing is sample based look backs versus real time monitoring reviews.
- Many of the controls the company relies on for internal control purposes are detective and manual rather than preventative and automated.
- Changes to Oracle forms and fields require significant knowledge of Oracle system and input from expert users or IT resources.
- The ability to monitor changes to critical application settings is difficult.
- Current capabilities to monitor change and identify transaction anomalies are limited.
- Replaced external audit SOD reports with internal Segregation of Duty Controls detection, prevention and monitoring process in Oracle E-Business Suite and P2ES applications.
- Enabled Change Controls detection, prevention and monitoring process.
- Detected and prevented suspicious transactions in multiple enterprise apps.
- Integrated GRC data into a single global system for all audit and compliance management activities.
- Streamlined and automated risk assessment, control testing and process certification process through workflows.
- Automated controls testing, track issues and actions using workflows.
- Provided management visibility into consolidated GRC activities via dashboards and report.