Customer :

A Mining Company in the African continent.

Business Requirement :

Review and examine the Procure to Pay environment of the Entity, Identify potential fraud vulnerabilities through an effective analysis, internal audit and evaluation process, Recommend Control design enhancements in SAP framework, Recommend relevant and commensurate inclusions of automated controls in SAP.

Identified Process Challenges :

Process gaps and control design challenges were noticed in the following areas of P2P environment of the entity:

Vendor Empanelment, Master Data Maintenance, Quote to Award – Sourcing Process, Purchase Orders and contracts, Receipt Certifications – Quantity and Quality, Supplier Invoicing and Payment Processing .

Approach and Solution Design :

A step by step approach was adopted for the various process challenges observed and the following were delivered to the stakeholders involved in the respective processes:

End to End Internal Audit report indicating the root cause of the issue, Impact, Possible recommendations for way forward, High Level Executive Summary, Modifications to DOA, KPI Linked Reporting dashboards, Possible SOD conflicts, Vulnerability Assessment.

Business Benefit and Result :

Procurement Value Optimization, Operational Efficiency and Process Excellence, Process Dashboards by recommending necessary parameters, A detailed Procurement manual adopting the current and best practices across industries.

Customer :

A Leading Manufacturer of Coffee Products across the Globe.

Business Requirement :

The key objectives of this engagement would be to provide a CFO office and manage the entire function of CFO in the organization.

Conducting Finance Operations efficiently and effectively.

Managing the assets of the organization by minimizing risks and getting the books right.

Handling the company’s overall direction.

Strategic Business Analyst.

Cash and Working Capital Management.

Cost Containment and Expense Management.

Identified Process Challenges :

Difficulty in Keeping Internal Controls Lean and Balanced.

Unable to Generate more insights from less data.

Less role of finance function across the organization.

Difficulty in Producing accurate and timely financial reports.

Approach and Solution Design :

Process area wise risk register was developed, and Gaps were identified across the locations and best practices were recommended to be put in place.

Identified the flow of data across software and interfaces and developed a framework of reporting MIS to Top and Middle Management.

Expanded the influence of finance function by enabling periodical process review with operations team.

Reviewed the information systems and processes and enabled financial transaction process optimization.

Business Benefit and Result :

Integrated Performance Management.

Financial Closure and reporting optimization.

Balanced and Lean Internal Control Environment.