Organizations are saturated in data and building an analytics process can be a heavy undertaking. Many organizations are in the early stages of integrating data analytics into their audit process and business processes. At Schneider Downs, we have trained professionals who not only can streamline and analyze business processes but also identify and build analytics to gain efficiencies and mitigate risk. We have experts that can help with data integrity, data organization and data analysis.
Analytics can provide many benefits to organizations but achieving those benefits can be difficult regardless of the size of the organization. Not only can data analytics be used to improve efficiency of compliance activities, they can also be utilized for continuous monitoring of financial transactions and business processes. However, identifying, developing, obtaining the skillsets and managing the costs associated with data analytics can be difficult. Schneider Downs can conduct workshops with Management to identify risk appetite by business process and as a whole for the organization, develop goals and objectives and create a practical plan for implementation. We will also be a resource for team members tasked with managing the implementation and day-to-day monitoring.
In addition to assisting with the implementation of data analytics, Schneider Downs’ can partner with your organization to monitor, summarize results and investigate suspicious activity from data analytics. There are numerous examples of where data analytics discover fraud or abuse by employees or improved efficiency within an organization. If you do not feel your data analytics are as robust as they can be or you don’t know where to start, we are more than happy to help or just have a conversation.