Continuous Monitoring Platform

A PwC Product

Helps get real time insights and make swift decisions in organisational control.

Imagine a business landscape where you are one step ahead of risks. Imagine a firm grip of your core function risks throughout the organisation at all levels.

What comes in the way of this utopian vision? The pressure that organisational functions such as finance and risk and compliance are under, following increasing compliance and documentation requirements. This limits ability to shift focus to more value-adding processes and improving insights of risk areas.

Fortunately, this is exactly what the Continuous Monitoring Platform enables organisations to do.

Continuous Monitoring Platform

A PwC Product

Helps get real time insights and make swift decisions in organisational control.

Imagine a business landscape where you are one step ahead of risks. Imagine a firm grip of your core function risks throughout the organisation at all levels. What comes in the way of this utopian vision? The pressure that organisational functions such as finance and risk and compliance are under, following increasing compliance and documentation requirements. This limits ability to shift focus to more value-adding processes and improving insights of risk areas. Fortunately, this is exactly what the Continuous Monitoring Platform enables organisations to do.

About the Continuous Monitoring Platform

The Continuous Monitoring Platform automatically analyses processes, transaction and master data, allowing for real-time insights in the organisational control. Customised dashboards highlight the exceptions to the standard and thus enable swift and thorough action. Exceptions will be handled by the business responsible via customised workflows, making compliance part of the day-to-day business.

PwC - Continuous Monitoring Platform

by PwC - 2019

The implementation of the Continuous Monitoring Platform and the roadmap to derisking your compliance agenda is ready in five simple steps.

Understand where your organisation stands and benchmark yourself

  1. Gain insight in current relevant risks, processes and controls
  2. Determine the areas that need to be monitored continuously
  3. Update existing controls and/or define new controls

Set up the your platform and monitoring

  1. Set up the Continuous Monitoring Platform
  2. Carry out tests
  3. Roll out training applications for administrators and managers

Handover of the platform and its processes

  1. User acceptance testing
  2. Commissioning the Continuous Monitoring Platform by the organisation

Execute monitoring

  1. Start monitoring
  2. Analyse and follow up on exceptions

Continuous improvement

  • Leverage the learnings from the experience and results of continuous monitoring to define, optimise and continously enhance (new) controls

The value for your organisation

Post the implementation, consider your compliance and controls agenda well on its way to transformation and de-risking.
The Continous Monitoring Platform empowers organisations to:

Compliance and documentation

Meet compliance and documentation requirements much easier, allowing responsible departments to focus on generating real value for the organisation

Real-time risks

Have a much better control of your risks as real-time insights are available

Increase in the quality of controls

The Continuous Monitoring Platform does not rely on samples, but analyses the full data populations. Exceptions can be identified in real-time and be dealt with in a swift and effective manner (instead of the current practice of corrective actions that take weeks or months after the actual exception has occurred)

Leverage data

Leverage the information generated by the Continuous Monitoring Platform to external stakeholders or auditors

PwC Singapore: The trusted partner in helping organisations in transform their risk and compliance journey.

  1. Consistency in risk management: We provide consistency in risk management activities via a single source of truth for all GRC activities which is a approach with predefined tools and templates.
  2. Integrated risk management We drive integrated risk management based on our significant insights into industry-leading practices, challenges, and enablers.
  3. Real-time risk monitoring: We offer continuous, real-time monitoring with the Continuous Monitoring Platform of the business and fraud risks. We improve the enterprise’s ability to analyse trends and identify outliers.
  4. Process transparency: Holistic and continuous process transparency which increase process efficiency by reducing process costs. Investigation of automation potentials for reduction of rework activities.
  5. Produce efficiency gains: Based on our experience working with various GRC tool vendors, we automate manual processes to produce efficiency gains across the enterprise.

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