In today’s technology-driven world, companies are running one or more enterprise systems to help manage their business. Moreover, driven by the advantages of the newer technologies, companies are updating their core enterprise applications in order to reap benefits such as lower costs and business transformation.
Many organisations are using these system updates as an opportunity to redesign their business processes to maximise the benefits from these technology investments, but this also increases reliance on these enterprise systems. That’s why companies should also reassess their risk profile and how to manage these risks.
Your challenges
Are you confident that your ERP project will achieve the desired control and business objectives?
How did you ensure that your ERP implementation meets all the regulatory requirements and is in line with the business assumptions?
Have you automated your manual procedures, calculations and controls for the benefit of business performance and controls?
Have these been properly configured to mitigate financial and operational risk?
Is your management information reporting effectively supported by the ERP system and optimised?
How did you assess system security, access to sensitive data and segregation of duties?
“Implementation teams primarily focus on implementing your new enterprise system on time and on budget. These teams usually don’t include risk and controls specialists to help the team design and implement an effective risk and controls framework. Typically, the company may identify later in the implementation process the need for certain controls, and then attempt to replicate the existing control framework from the legacy environment. But this approach does not make full use of the capabilities and efficiencies of the new enterprise system.”
Explore how we can help you
Whether identifying segregation of duty conflicts, monitoring and securing access or managing transactions, we can help establish the right mix of automation and manual techniques to drive system integrity and gain value from your enterprise systems investment:
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