Process Validation BOTs

Bringing the right combination for shaping up your automation journey

A PwC India Product

In industries, attracting and keeping internal audit staff has become a challenge. Even though overall hiring expenditures for auditors have increased, filling posts has never been more difficult and subject matter requirements are also growing at an exponential rate. PwC's Process Validation BOTs helps your business in automate its day to day auditing processes like delayed cash accounting, duplicate invoice processing, debtors management, vendor management etc. BOTs can perform many operations such as SAP, Excel , extracts reports, search entities, creating pivot tables & performing excel calculations. It's a correct combination of controls for shaping up a successful automation journey.

Challenges

languageExcessive efforts

The auditing processes involves lot of data processing which consumes excessive human effort and is time consuming. This tends to consume a lot of human capital & end up consuming time affecting the employee’s productivity hours

content_copyHandling many reports

Working on internal audit trails can be tiresome at moments where-in there are a lot of files to be dealt with. Each file contains many details which are some how interlinked in nature & constitute the whole information structure

track_changesHuge manual tracking

In audit processes it is usually found that there are lot of transactions with different Vendors on day to day basis over mails or company portal. So tracking details of these vendors is a tedious task

saveData Validation

Internal auditor deals with lot of transactions and there can be some occurrence of human errors while processing these transactions. Validating and correcting any errors consumes lot of effort and time

BOTs at a Glance

Internal Audit Control


1. Credit Card Reconciliation

BOTs downloads Monthly Progress Report report from email / bank portal and compare with credit card transaction dump from ERP system using ‘approval code’ present in both reports. Verify through charge slips for exceptions.


2. Payment Check

Verification through underlying documents: Extract the invoice details from email etc. and verify the invoice posted (vendor name, GSTIN details, description entered etc.)


3. Post facto Purchase Orders

BOTs Compares Invoice Date and PO date in SAP to identify instances where services were taken before PO approval. Verification is done through underlying documents.


4. Employee Master Controls

BOTs to verify data captured in SAP with underlying documents i.e. Digital copies of approved Employee Joining letters stored in specific folders.


5. Vendor Master Controls

BOTs to verify data captured in SAP with underlying documents i.e. Digital copies of approved Vendor forms stored in specific folders.


6. Duplicate Invoice Processing

Extract supplier invoice listing from SAP to identify potential instances of duplicate invoice postings using formulas and fuzzy lookups. Verification is done through underlying documents.


7. Delayed Cash Reconciliation

Download bank statements from banking portal and compare with the accounting in SAP for the delayed entries.


8. Debtor Accounting

Verification through underlying documents: Extract customer ledgers to identify receipt entries and use BOTs to compare the applied payment entries with ‘Remittance Advices’ received via emails.

Key Features

We are bringing right combination for shaping up your successful Automation Journey

descriptionReduction in Manual Efforts
  • Fostering BOTs usage into day-to-day work tasks makes audits professionals mindset shift from mechanical mundane deliverables to a more intellectually oriented challenges
  • This in turn boosts an employee’s productivity scale helping achieve better results
groupImproved Compliance
  • Proper sanity checks & scrutinization of laws, regulations & industry standards by inculcating usage of BOTs which helps foster complete compliance
settingsEmbedded Control
  • Automating data validation, invalid entry identification, report creation, etc. tasks can be very helpful for the audit professionals boosting their productivity hours
scheduleRound the clock assistance
  • Usage of BOTs ensures 24*7 support to the audit professionals present in the industry
  • On-the-go support provision by the BOTs makes work life better for auditors

Use Cases

Automating Configuration Controls Audit for a global steel manufacturer

Automating GRC Configuration Controls for Mining Company in India

Indicative Commercial Model

Rates will be tailored as per local territory.

Implementation fee unless specified would be additional.

Any customization to the standard offering will be charged on a case by case basis.

* This cost applies where the underlying ERP application is not SAP

** This cost applies where the underlying ERP is SAP

Implementation cost will include BOTs re-design, development, testing and deployment to production

Duplicate Invoices
INR 650,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 500,000

Post Facto PO
INR 650,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 500,000

Vendor Master
1,000,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 800,000

Employee Master
INR 1,000,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 800,000

Payment Check
INR 1,300,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 1,100,000

Delayed Cash Recon
INR 1,300,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 1,100,000

Credit Card Recon
INR 1,300,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 1,100,000

Debtor Accounting
INR 1,300,000Fresh Implementation (non SAP code)*

Re-Use SAP code**

INR 1,100,000

Contact Us

Please enter your business e-mail address if you would like to receive more information, an offer, or a demo of this product. We will get in touch with you shortly.

check
Thank you for submitting your request. We will keep you updated.