A tale of paper trails
Having pioneered their business processes in the early years of the last century, the firm was faced with a “new world” where ever-changing accounting standards, legislations and regulations challenged the efficiencies of their processes. Some of these included
- The current slew of IT platforms and tools were falling short of the intended process efficiencies especially with the increased data loads
- Heterogeneous software systems and formats across the various geographies that the teams operated in caused data inconsistencies and reporting issues
- The reliance on traditional paper trail based process and its lack thereof of efficient coverage had resulted in quite a few fallouts and causing setbacks in business
Orion’s teams were engaged to design a platform that would primarily automate & standardize the business process across all geographies for the firm. This demanded an evolution in the audit execution process to restore investors’ and regulators’ confidence by improving overall quality and efficiency of planning, governance, coverage, risk assessment and testing.
Multi-national financial services firm with member personnel and offices in over 150+ countries.
Tools and Technologies:
Reduction in time spent
Cost savings in