Enhanced risk identification and control over workflow enable organizations to enhance operational efficiency and effectiveness. Today’s compliance & regulatory scenario, demand huge cost to meet SOX compliance needs and to minimize this Birlasoft provides Offshore based standard solutions for SOX audit (by internal/ third party). Birlasoft's SOX Process Offerings are designed to develop IT policies and procedures using COSO/COBIT framework and guidelines.
CLIENT CHALLENGES
Enterprises, today, face three major challenges related to their Compliance requirements:
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Visibility
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Compliance
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Integration
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Financial transactions
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Authorization, security and identity management
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Service desk on going maintenance
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Incidents, Problems, Changes
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Operational efficiency & effectiveness
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IT Assets procurements and installations
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Compliance with laws and regulations
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COSO & COBIT framework compliance
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Segregation of duties & interface controls
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Traceability of incidents, problems, changes and releases
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Consistent testing and monitoring of the business process controls
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Reliable financial reprting
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Business processes integration with enterprise systems like vendor, procurement, contract, financial and HRMS systems
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Service desk with infrastructure monitoring
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Service desk with IT Governance
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Service desk with IT Governance
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WHAT BIRLASOFT PROVIDES
Birlasoft utilizes its 6-step model consisting of, "Plan - Risk Assessment - Identify & Document - Evaluate - Verify & Monitor - Maintain", to provide the following offerings to customers.
- Assessment of existing internal control framework
- Portfolio analysis for SOX criticality index
- Design of TOD/TOE and other internal control processes
- Audit & compliance reporting from off-shore
- Testing of internal controls
- Technology solutions and tool selection
- Technical evaluation of application security and DR drill
BUSINESS VALUE
Our strong understanding of ITIL/COBIT/COSO framework, coupled with our project management capabilities, enable us to provide the following business benefits to customers:
- Reduction in non-compliance risks (by up to 85%)
- Improve ease of audit/ compliance with audit effort reduction (by up to 25%)
- Increased visibility of financial records of the organization & reliable financial reporting
- CIA (Confidentiality, Reliability & Availability) of information is attained and maintained
- Consistent monitoring of transactions with business processes
- Documented controls that can be checked and verified