Leader in Internal Auditing Education, Standards, and Certification
Overview
This global professional association provides education, guidance, and certification for the internal audit profession. It was founded in 1941 and has over 270,000 members in over 185 countries. The association’s mission is to provide leadership in internal auditing, promote the highest standards of professional practice, and enhance the value of the internal audit function.
As this organization’s size and scope increased, so did its need to automate reporting and analysis processes. deFacto Global was able to provide the materials and expertise to help the organization achieve this goal.
Challenges
The organization’s reporting, budgeting, and forecasting systems were inefficient. They relied on manual manipulation of numerous data sources, which was time-consuming and error prone. Additionally, the organization struggled to manage multiple versions of documents and FRx. These inefficiencies led to increased labor costs, slower turnaround times, and a lack of accuracy and transparency. The organization must address these inefficiencies in order to reduce costs, improve accuracy and transparency, and speed up processes.
dF Solution Statement/Results
deFacto Power Planning improved the efficiency of its reporting, budgeting, and forecasting systems. It provided the organization with a new system that streamlined data submission and reporting. The new system also allowed users to build and run reports with both financial and non-financial metrics. It was easy to use, so users were able to quickly become self-sufficient. As a result, the organization saw sizable time and money savings. They were also able to make more informed decisions that drove their success.