Business Risk and Insights Platform - PwC's Risk Management Software Solution
Converting data into insights for business risk and controls management
A PwC India Risk Management Software
Business Risk and Insights Platform is a continuous control monitoring tool that enables automated and near real-time identification of red flags/ controls exceptions through analysis of business data.
It provides a single-window view of the risk and controls landscape, integrates with multiple data systems to analyse data and identify red flags, and provides functionality to assign accountability for remediating risks and track progress.
Key control aspects of our Risk Management Tool
Potential fraudulent
transactions and financial leakages
Inaccurate financial reporting
Non-compliance with business policies
Breach of quality norms and operational inefficiencies
Key Features of our Risk Management Solution
Business Risk & Insights platform is a one-stop cloud platform, for all data & analytical needs of an organisation. It has standard out of the box data models, KPI library & visualisations and an insight generation engine built across business functions based on decades of PwC Experience of such implementations across industries.
01
Automated data analytics enabling the internal audit/controls team to focus on root causing and systemic fixes to deliver value to the business
02
Systemic improvement and controls through remediation tracking enablement
03
100% transactional coverage and detection & prevention of revenue and cost leakages
04
Quick implementation for standard ERP environment with ability to customise where needed
05
Effective compliance with regulatory requirement like SOX/ IFC through automated testing of controls
Master
- Fictitious customer & vendor records
- Undisclosed related parties (customers v/s employees v/s vendor)
- Incomplete / inaccurate master records
Access
- Conflicting access with same user
- Price master – sales order – dispatch booking
- PO creation – GRN - Invoice booking
- Critical / sensitive access assigned to several/unauthorised users
Configuration
Activation of ERP transaction posting check from exited employee ID
Activation of duplicate invoice posting check
Transaction
- Non reversal of discounts/schemes on returns from customers
- Exited employee salary processing
- Higher business share to higher price vendor
Reporting
- Abnormal/duplicate journal voucher posting
- Incorrect revenue recognition
- Abnormal variances in GL balances
