Innovation and digital transformation are allowing businesses to improve processes with technology enabled solutions like never before. When it comes to internal controls — perhaps one of the most important systems in a business — organisations still largely rely on unwieldy spreadsheets, disparate tools, and manual processes to track and respond to vulnerabilities. These methods are often inefficient and contribute to a lack of visibility. In addition, aging legacy systems and infrastructures can lead to increased administrative burdens, low transparency and cumbersome reporting processes, while increasing the risk of financial misstatements, the breaking of corporate governance code and missed expectations from outside investors.
The realities of a growing risk landscape and rapidly changing business climate have spurred a new generation of best-in-class, internal control solutions designed to help businesses mitigate or prevent security risks, streamline efficiencies and costs, along with maintaining compliance with laws and regulations, while boosting transparency for leadership, stakeholders and auditors.
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