Continuous Controls Monitoring

How do you drive efficiency into and reduce the costs of your ongoing compliance program? How do you optimize the evaluation of critical business and anti-fraud controls?

You face numerous challenges that include the need to manage regulatory compliance, reduce financial process costs, improve revenue assurance and reduce the risk of fraud. Couple this with the increasing costs of external audits and compliance reviews, and the pressure is on to find a cost-effective, reliable and sustainable means of validating controls performance.

The need for technology solutions that can automate the independent and continuous testing and monitoring of controls is clear. But where do you start?

Our Solutions

Today the need for continuous monitoring of controls is more critical than ever. Continuous monitoring can identify errors, fraud and inefficiencies by independently checking and validating transactions against specified control parameters and business rules. Management and process owners receive timely notification of control failures and can quickly review quantified exposure of risk and investigate and resolve potential problems before they escalate. As a result, your organization can better maintain compliance, contain costs and minimize losses.

Before you enter the brave new world of continuous monitoring solutions, however, you need a partner that can show you the way. Based on our extensive internal control design expertise and our partnerships with the leading continuous monitoring technology providers, we have developed a suite of solutions to guide you.

Readiness Assessment

Continuous controls monitoring (CCM) presents a valuable proposition for most organizations, but it can require significant investment. Before you decide to implement a continuous monitoring solution, you should understand how CCM can benefit your organization and have the facts to determine whether the benefits will outweigh the costs.

Our readiness assessment evaluates your organization’s preparedness for continuous monitoring by understanding your CCM objectives and your current control environment. The results of this program will help you:

  • Understand the continuous monitoring solutions that are most appropriate for your organization
  • Understand the number of controls that are candidates for continuous monitoring
  • Determine what modules are appropriate for implementation
  • Understand the amount of customization that might be required to maximize solution use
  • Determine up-front solution costs and anticipated return on investment (ROI)

Solution Implementation

Based on our knowledge of your organization and our experience in internal control design, our team will design, build and deploy a continuous monitoring solution that meets the specific needs of your business.

Design
Once a technology solution has been selected, we work with you to design the configuration of your continuous monitoring system. This process includes determining control test plans and identifying custom tests to be developed, determining how and to whom notifications will be presented, and determining control failure thresholds and other settings.

Build
Our business professionals and technical experts create and configure your continuous monitoring system. This process includes creating control test scenarios, connecting to data sources, testing configurations and scripting custom tests.

Deploy
Our professionals deploy the continuous monitoring solution within your environment. This process includes security provisioning, user acceptance testing, system and unit testing, data validation and end-user training. The Control Solutions team also works with your technical team to provide technology support training to enable long-term maintenance of the continuous monitoring platform.

Business Change Support

Over time, your business will change with new acquisitions, new systems and new processes. As these changes occur, Control Solutions can be there to ensure that you continue to maximize the value of your investment in continuous monitoring. Our team will work with you to understand the nature of the changes and develop a solution to address your needs, ranging from additional modules to additional systems to end-user training.

 Download our Continuous Controls Monitoring solution sheet.