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Smart Auditing Solution Overview

The Solution will propose adjusted values and actions based on findings for the client's approval. This will be controlled by business logic as well as scripts that can be managed and updated on a need-basis by client’s team. Custom reports can be generated based on existing formats for audit verification and adjustments. The reports can be generated dynamically and made accessible to the auditors.

The platform can plug into existing client systems and consume data through rest APIs, using a built-in smart data exchange framework. Based on certain rules, it can also push the data into systems through rest API calls. All the reports on the platform can be instantly downloaded as excel sheets to enable auditors to perform analysis.

Real-time calculations can be performed by the platform, dynamically, based on predefined business logic and formulae. These can also be added as simple JavaScript snippets that are quick to write and simple to manage. Platform can flag which samples need to be looked at first by the auditors, based on auditing standards. These may also be scripted into the platform.

Each record will be validated on a record-by-record basis and system will flag it appropriately. The business rules, procedures and auditing standards that govern this flagging can be managed and updated in real time.  

The platform comes with a modern, polished UI out-of-the box, making it simple for auditors to use and update. The platform is available instantly over both, mobile and web.

Smart Auditing Solution  (SAS) – Key Features

  • Ability to consume data from various existing systems through a proprietary data flow framework. This enables data import from multiple data sources.

  • Ability to incorporate changing auditing standards and procedures and business logic dynamically, consequently, makes it easier to manage and iterate on the platform

  • Completely configurable dashboards for all roles, such as auditors or management, to get a quick snapshot view and make data-driven decisions.

  • Completely cloud-based platform enables users to access and manage their data from anywhere, makes data availability and manageability very simple

  • Mobile-ready platform is automatically available on web and mobile, on iOS and Android devices, including tabs.

Smart Auditing Solution  (SAS) – Functionalities

  • Ability to schedule audits and send reminders and notifications based on this schedule to auditors and management and other relevant users so that they may be prepared ahead of time and conduct audits more efficiently

  • Ability to export reports as Excel sheets to enable auditors to perform various audit operations and meet miscellaneous audit objectives

  • Ability to manage business logic and compliance guidelines in the form of simple scripts

  • Ability to perform calculations on the fly and compute the recommended values as per the business logic or as per audit guidelines

  • Ability to recommend which steps to take based on data validations

  • Built-in rule engine that will automatically manage schedules and workflows which can be updated, iterated and managed as per business need

  • System will periodically do polling based on a schedule, using proprietary data flow framework to pick up audit-relevant datasets from current systems and make them audit ready for auditors to start conducting the audits

  • System will schedule audits once the data set has been extracted completely and send notifications to relevant users beforehand as per business requirements

  • Then, once scheduling is completed, platform will run sanity checks and various data validations as per various criteria

  • Current auditing standards

  • Industry procedures

  • Business logic

  • Compliance guidelines

  • Platform will flag records that first need to be reviewed by auditors and notify them if necessary, this will be done on a record-by-record basis

  • Auditors will be notified with recommended next steps for the audit data that has been flagged by the system

  • System will compute the proposed values for wrong data and propose it to the auditor as per the client guidelines

  • Platform will guide auditor to complete the audit on a step-by-step basis

  • Once audit is complete, proposed values by system will be shared with client as part of the report for verification

  • System will also enable auditor to export the report as a microsoft excel compatible file

  • Platform will also enable the export of the report into custom accounting systems

Smart Auditing Solution  (SAS) – Key  Accounts  Handling

Accounts Receivable - ability to:

  • Maintain trail and history of receivables

  • Create customer invoices including consolidated billing in real time

  • Manage outstanding and historical receivables

  • Process deposits

Accounts Payable - ability to:

  • Maintain payable history

  • Create supplier invoices on demand

  • Manage payable, historical and current

  • Process payments, trigger third party systems for the same

General Ledger - ability to:

  • Enter and manage journal entries

  • Report transactions in real time

  • Define and manage methods for foreign currencies

  • Set up recurring and scheduled transactions to automatically create each account period

  • Maintain a  transaction revision history with audit log

Allocations - ability to:

  • Create of journal entries and management

  • Define percentage for allocation between accounts

  • Determine allocation percentages using system-defined cost drivers

Reconciliation - ability to:

  • Balance transactions posted to cash accounts against bank statements

  • Reconcile foreign currency transactions

  • Maintain a running total of the bank balance as each transaction clears

  • Provide individual bank reconciliations for each bank account

Budgeting - ability to:

  • Set up monthly and annual budgets for revenue and expense GL accounts

  • Use standard and custom reports to analyse performance and variance to budget

  • Upload standard CSV files for quicker budget input

  • Compare financial reports with multiple budgets

Smart Auditing Solution(SAS) Solution Framework Performance

  • Serial Entrepreneurs with successful exits in companies such as Intel, Adaptec and Citrix.

  • Over 80+years of collective industry experience.

  • Strong senior team with past engagements in Intel, Citrix, Fujitsu, CSC, Dell and Accenture.

  • Head-quartered in Saratoga, California with R&D team in Hyderabd, India.

  • Over 30 years of collective experience in mobility and cloud.

  • Deep understanding and relationships in the technology sector, with auditing systems and workflow systems.

Smart Auditing Solution  (SAS)

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