The client had already been using a GRC solution that was not well maintained. In its current state, enhancing and customizing the old solution to make it suitable for internal users and meet business objectives was nearly impossible. The client was looking for a new solution and was ready to invest since they aimed to build a strong foundation and prevent potential future losses.
The client’s reputation and financial performance can be significantly affected by various risks, including natural disasters, cyberattacks, regulatory changes, supply chain disruptions, and product recalls. To safeguard against or minimize these risks, clients must maintain constant vigilance over potential business threats and continually adapt their Audit, Risk, and Control activities to address emerging challenges.
Being one of the foremost suppliers in the automotive industry, the client acknowledges that the journey toward success is fraught with obstacles and challenges. To ensure that their business overcomes these hurdles and reaches its goals, the company aimed to leverage IBM OpenPages to gain better comprehension and control over various risks associated with finance, compliance, product quality, and more. By identifying potential areas of vulnerability across all their global subsidiaries and developing practical strategies to minimize the threats, the client sought to steer clear of any potential business risks.
The client was looking for a solution to reimagine the role of A.I. and natural language processing in an auditor’s workflow. They were looking to scale control testing using more extensive data sets than before to uncover hidden trends and insights. The client wanted to identify anomalies within business monitoring and effectively plan and scope audits using new findings.