Risk-free audits answer business demands 10X faster - Collabera:

Risk-free audits answer business demands 10X faster

kpmg case study
Collabera January 19, 2022

Our client, a global accounting firm, sought to transform its legacy audit platform and audit experience.  They sought to turn the audit function into a seamless digital experience for both clients and their auditors, yet the legacy system faced data management and data Extract/Load/Transform (ELT) challenges, limited integrations across disparate systems, and automation was practically non-existent.

Our client required a modern digital platform solution with a dynamic user interface to make auditing cycles risk-free while enabling the firm to do more with less. The platform also needed to be flexible and scalable to evolve with data and technology landscape changes.

The Solution

Collabera’s solution entailed the notion of an AI-ML-led digital auditor, to simplify and streamline the audit process from end-to-end.  Collabera’s Smart Digital Auditor leverages our proprietary data model and business logic, aimed to provide the auditing firm with a frictionless journey into risk-free, repeatable asset management audits, with a foundational architecture capable of scaling into audits of other industries as part of the growth plan.

 The Smart Digital Auditor solution entails: 

  • A platform designed to bring both legacy and next-gen auditing into a compelling user experience for auditors and their stakeholders
  • The notion of an audit composer with more self-driven audits, where auditors can enjoy a nearly auto-pilot type of experience
  • An auto-discovery process for gathering audit inputs 
  • 100%

    confirmation of asset holdings with direct integration via relevant users/administrators

  • The domain-driven-design combined with microservices architecture for total independence over framework components, business rules, and data management

 

 The auditing platform solution enables complete audit tracking at each stage of the ongoing cycles, including extensive data consolidation, abstraction, and analysis at various levels based on engagements captured via interactive dashboards. Plus, the addition-based platform will be able to meet changing business needs by branching out from investment auditing to include income, financial, and capital-based auditing.

Tech Stack:

 Azure cloud platform, COSMOS (No SQL), Gird, .NET, Power BI, Syncfusion, SQL Server, UI tech stack – Angular

 

The Results

The modernized audit platform solution is built to streamline the client firm’s audit processes, with an end-to-end approach toward audits, capable of returning various benefits such as:

  • 10x

    more audits but with the same number of employees, saving money with a digital foundation, while laying the foundation to grow the business at the same time

  • 100%

    confirmation of asset holdings with auto-discovery process

  • 100%

    auditing of client portfolio with 100,000+ assets in a day

 Collabera’s expertise in product engineering, deep domain knowledge, and vision for what the future-of-audit entails has set the foundation for future expansion of the smart auditor solution across the enterprise.  Collabera’s co-engineering approach, and history of advising and modernizing numerous organizations in their digital transformation journey, make us a perfect partner for modernizing and future-proofing the systems that drive your core business.

Collabera has co-engineered and advised numerous organizations to succeed in their digital transformation journeys. Talk to us to learn more.

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