Companies today are trying to integrate
their governance, risk management and compliance activities
to make them more consistent, efficient and relevant.
For this, technologies are needed to monitor business
activities in real-time so as to limit risk and noncompliance.
Azilon's Control-Monitor enables
organizations to do this by continually testing the
controls for various business units. The core components
of the Control-Monitor include the Rule Engine which
enables the control owner and auditor to configure
the control parameter based on their need and the
Control Testing engine which helps the organization
to test the controls for various business units. Both
these unique features of the Control-Monitor help
organizations to automate the internal control testing
and also to monitor the controls on a continuous basis.
The organization is able to adopt a uniform approach
for control testing across the business units thereby
reducing its internal audit costs, mitigating risks
at an early stage and also gaining complete transaction
coverage rather than just a sampling. Azilon offers
two innovative solutions under this product category-
the Audit Workbench and the Automated
Control Test.
Audit Workbench
Azilon's Audit workbench enables
organizations to manage their internal and external
audits for better compliance control. It helps to
build an electronic repository of all audit work paper
and does control testing data capture and verification
of data. The Workbench includes Audit Project Management,
Audit Scheduling, Control Testing, Control Test Verification,
Audit Workflow and Control Issue Resolution.
Automated Control Test
Automated Control Test enables auditors,
compliance managers and business managers to test
and monitor financial controls in an automated manner
without going through the manual testing for
verification of data.
Azilon offers one of the most extensive
Controls Automation Library in the Industry. This
includes not just providing Control Automation (Oracle,
Peoplesoft, SAP, Custom), but also tending to services
like Setup, Change controls, all trans cycles and
major ERP systems and a close emulation of the Currently
Performed Manually Intensive controls. The wizard-driven
customization minimizes the need for Custom Code and
also minimizes the learning curve and the impact on
IT.