PROVIDE Your Organization, INFRASTRUCTURE TO OBTAIN THE REAL BUSINESS VALUE
Control systems are built to drive accountability and seek positive assurance from line management on internal controls, across the organization. The current control assessments are carried out with help of written guidelines, questionnaires, documents, and spreadsheets, however the larger the organization, the tougher it is to proceed with a controlled internal control system and today’s larger organizations need to strike the right balance between risk exposure and risk profitability- while complying with regulations and working closely with audit departments.
However using technology for the same, is much more beneficial because an internal control solution can help automate processes and supports one to dozens of individuals or more who are active in internal control processes. An Internal Control Management solution provides the organization with various tools that are needed to identify, implement and assess the system reduce organizations risk exposure, provide visibility to management on strategic business functions and measure business processes performance & improve it.
Empower Process Owners and Managers. Stay Secured and Controlled – Internally!
The Control Self-Assessment (CSA) module of smartGRC is based on practices already existent and being followed in Control management i.e. frameworks like COSO, COBIT and ISO. It lets you define, assess and monitor business controls in time, their immediate status and effective end results, with impact on the Risk Framework, providing full visibility and reporting throughout management hierarchy.The CSA Framework of smartGRC allows you to –
- Design & Implement, a robust and scalable, Business Process Management Framework
- Assess Mitigation Plans & Controls simeltaneously, from a Risk Management Perspective
- Identify & analyze any process gaps with remediation plans, history and detailed analysis
The CSA module lets you streamline any business process & helps connect people, data and systems to drive substantial time savings and offer full traceability on every business process, Thereby improving productivity, gain critical approvals quickly, meet regulatory demands with full confidence. The module enables you to build a process framework, the way you want, with components like configurable forms, repositories and workflows.
CSA SOLUTION FEATURES
Dedicated Control Library
Dedicated & customizable control process repository that is easy to manage and update. Controls once defined can be mapped against multiple Business Lines & Users
Identify and define all key business controls in central repository, categorized by topic, type and execution method with established objectives for each control, in easily customizable Control forms
Allow Process owners extensions for Control Remediation, track & manage control remediation activities, define workflows for remediation approvals with alert, notifications & auto reminders.
Risk Framework Integration
Easily assign & Manage the Multiple Controls to their respective Risks, Monitor Control performance from a dedicated Risk workspace, Identify & Evaluate Controls for Risk based audit program
Pro-active Analysis and identification of grey areas, analyze deficiencies- which are identified automatically and then categorized according to any user defined parameters, for extensive reporting
Dedicated Controls dashboard for single stop view on all events, custom data & date filters to provide detailed and specific information ex-tractable in a presentation format
Why Our Internal Control Management System?
Improve horizontal & vertical communication among Functional Lines on Business Processes
Ensure effective and regulated feedback on tasks and assignments from Process owners.
Continuously evaluate and monitor business processes and industry best practices
Fast evaluation of processes, through automated features and highly intuitive dashboard.
Robust Control Framework with easy workflow assignments, definitions and roles
Ensure timely follow-up and prevention of bigger risks and events
Automate and schedule – regular tracking and reporting
Intuitive reports, generated on real-time basis as per user selected criterions
Generate detailed and customised reports, according to user specified format
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