Continuous Monitoring - Areas of Expertise

Following are some examples of solutions using CaseWare Monitor, and for additional details, please read the corresponding case studies where available.

Revenue Leakage
Challenge: Inaccurate bills going to customers on a regular basis caused significant rework and risk to the company’s reputation.
Solution: Provided analysis of all bills and removed any errors prior to mailing.
Result: The number of errors and man hours required to correct them is reduced, and corrections are made before the next billing cycle.

Challenge: A county that had already experienced 2 large cases of fraud was planning to reduce audit by 50% and overall staffing by 16% creating additional pressure.
Solution: Automated routine analysis of disbursements.
Result: Auditors were able to focus on the exceptions that might indicate new fraud schemes. In 4 months, they identified and recovered $12,272 in duplicate payments, and identified two gaps in the purchasing process that required improvement. Currently identifying about 25-30 potential duplicates per month and working towards process improvements to prevent further losses.

Challenge: Governmental entity wanted to introduce a high-revenue product, but needed to ensure 48-hour fulfillment.
Solution: Reviewed product status every 2 hours and alerted particular manager of any item stuck in a production stage.
Result: Consistently provide products within the deadline and higher fees go to the bottom line.

Challenge: New shared services center designing proper controls alongside new procedures.
Solution: Assessed risks, defined controls, and selected appropriate controls for electronic monitoring within the solution.
Result: Shared services team receives timely notification for response and time for review by internal and external audit is reduced.

Challenge: Organization underwent major reorganization impacting employee morale and need for retraining.
Solution: Tracked and reviewed each employee’s activity for accuracy, volume and deadlines on a weekly basis.
Result: Management used reporting to provide individual counseling and motivation for significant improvement in employee productivity and performance.

Challenge: 150 bank branches reporting on 10 compliance requirements each month. Audit was unable to comprehensively collect data and reports for the enterprise.
Solution: Used visibility of single portal to route compliance exceptions to all branches each month, gather all responses and track unresolved exceptions.
Result: Met compliance requirements with 95% accuracy within 6 months.

Case Studies / Success Stories

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