Governance, Risk and Compliance

An increasingly complex and changing business environment coupled by ever accelerating adoption of newer technologies, poses interesting challenges to the Internal Audit (IA) function in meeting expectations of all stakeholders.

Whether you need assistance in setting up an IA function, transforming existing function, outsource/co-source the planning and delivery of the IA requirements, we can propose a customised solution using our expertise and state-of-the-art tools and technology.

Our IA advisory services offer clarity on maximising the value of your function. We can assist in developing audit maturity assessments, implementing relevant methodologies, providing internal audit training to upskill your team, and conducting quality assurance reviews to ensure compliance with audit standards.

Our services aim to enhance your IA function in multiple ways. Through managed service (outsourcing) and partnering (co-sourcing), we improve the capability, flexibility, and effectiveness of your internal audit, while also delivering better risk coverage and reducing costs. We help create value and relevance within your internal audit function, promoting innovation and efficient resource allocation tailored to your company's needs.

Additionally, we provide staff secondments, offering access to experienced professionals who can be integrated into your team. This allows you to enhance your internal audit competency by leveraging their industry and subject matter knowledge.

Our GRC team offers a specialised service to help organisations evaluate and enhance their internal controls. Their comprehensive assessments of control mechanisms and processes across various functions identify deficiencies and provide recommendations for improvement by leveraging industry best practices. The team helps organisations proactively address control weaknesses which helps them mitigate risks and safeguard their operations and reputation. To help management have confidence in the control environment, our teams create visibility of the effectiveness of controls by using advanced data analytics and visualisation tools.

• Fit for purpose controls
• Operational effectiveness
• Streamlining and simplification of processes and controls
• Control automation
• Risk visualisation
• Industries

Revenue Assurance is aimed to plug revenue leakages along the entire value chain. Revenue leakages represent missed revenue opportunities (e.g., unbilled and under billed charges, delayed cash flows, written off revenues, etc.). Common causes for revenue leakage include inadequate controls around complexity in products, bundles/discounts, manual interventions, multiple handoffs, change in programmes impacting systems and processes. Key components of the solutions include:

• Revenue Leakage Minimisation and Cost Management
• Data analytics along the revenue processes to identify revenue leakage
• Independent testing, reconciliations and re-modelling of business rules and re-rating on our own systems to assure revenue
• Independent review of new revenue areas/ business model changes
• Proactive Monitoring
• Development of dashboards for reporting KPIs
• Report on transactions trends and processing errors
• Sustainability of Revenue Leakage Efforts
• Development of target operating model
• Training
• Outsourcing/co-sourcing revenue assurance functions
• Monitor, Detect and Fix Revenue Leakage
• Requirements gathering and data acquisition
• Data analysis and reconciliation
• Root cause analysis
• Reporting System Implementation
• Confirmation and prioritisation of test cases and desired reporting based on high-risk areas identified in the analysis.
• Development and testing of ETL, data models, reports, self-service dashboards and visualisations for reporting.
• Set up Alert Monitoring and Management Process
• Setting up of alerting thresholds and scenarios where users will be informed of possible incidents of revenue leakage 
• Establishment of Alert Management Workflow

The growth plans of organisations are linked with timely completion of development projects. It is equally important to have the right governance mechanism to ensure delivery of projects within the desired parameters (time, cost, quality, compliances). Our 'Project governance and insights' solution addresses the key challenges faced by clients today;

• On-time project completion: On-time project completion through efficient planning and governance of projects (schedule vs. onsite progress, contractor's performance, other project completion risks); recommendations to improve the control over timeline.
• Budget and cost-control: Opportunities of cost optimisation based on our industry experience and proactive identification of potential cost overruns; recommendations to improve the control over budget and cost.
• Design control: Adherence with design principles/guidelines to avoid rework and project delayed by client.
• Compliances: Adherence with safety and compliance guidelines at the project site.
• Our deep techno-commercial capabilities with experience of delivering more than 100 similar engagements enables us to deliver exceptional value to our clients across segments (plants & factories, roads & highways, real estate, data centre, hospitals, hotels, retail stores, warehouses etc.). Our partnership approach enables clients to strengthen and deliver their business plans effectively.

Process mining is an approach to identify As-Is business processes by analysing the digital footstep retained in the system from every transaction. It analyses data generated in the organisation and gives maximum visibility by reconstructing the process maps and advises on how to improve business controls and operations. Improvement opportunities include identification of inconsistencies or abnormalities in business process compliance, finding levers to reduce the cost of business processes, classifying and prioritising top automation opportunities.

Commercial assurance involves identifying, validating and managing the risks associated with third party contracts. It gives you the opportunity to drive savings, process enhancements and knowledge transfer, while also ensuring compliance. Inadequate third-party contract management practices can hurt your bottom line and increase the risks of financial losses, damage to your company's reputation and possible regulatory issues.

Our solution includes design/review/redesign of business processes (standard operating procedures) by improving the control environment, enhancing efficiency and effectiveness and reducing cost. Our teams bring a deep understanding of supply chain, finance, IT systems, operations and human resources; and we use extensive data and identify improvement opportunities. We also provide detailed process narratives along with the KPIs, key risks and controls, responsibility matrix, delegation of authority, key MISs, etc. in various formats which are used by clients to standardise the processes and to provide role clarity and instructions to the teams.

We support clients in establishing robust corporate governance framework and driving sustainable value creation by a structured three step approach:

• Review of current state of framework - Includes comprehensive review of existing governance structures, policies and procedures
•  Perform maturity/gap assessment - Through a structured governance maturity matrix, identify improvement opportunities and provide ratings
• Development of governance roadmap - Establish a forward-looking roadmap for implementation of recommendations with prioritisation and immediate implementation support

Current state assessment through a governance maturity assessment matrix provides valuable insights to company's current positioning and serves as a foundation for clear vision towards strategic objectives.

This entails a detailed review of policies and processes, focusing on identifying enhancement and optimisation opportunities across the organisation using controls, automation, processesand efficiencies as levers.

We support clients in achieving objectives of operational efficiency and stregthen control framework through a structured approach including: 

• Diagnose - An exhaustive analysis of current processes, policies, and operating models to evaluate maturity and performance levels.
• Design - Identification of enhancement prospects through gap analysis, providing innovative and actionable recommendations focused on sustainable cost optimisation.
• Deploy and manage - Support in implementation of recommendations to ensure alignment between anticipated outcomes and stakeholder expectations

We delivered benefits through: 

• Process redifination/ improvement
• Operating model and organization structure alignment
• Tools and Technology to sustain productivity 
• Reduction in cost leakages and enhancement opportunities
• Monitoring framework
• Change Management via people initiative

We collaborate with our clients to conduct a thorough review of plan operations value chain, focusing on achieving objectives of maximised operational performance across key cost levers - yield and scrap management, inventory holding and optimisation, overhead cost management, and managing efficiency.

We support clients in achieving objectives of cost transparency and control assurance through a structured approach including: 

• Diagnose - detailed review of current processes, operating model, cost drivers for assessing maturity and performance 
• Design  - identification of improvement opportunities through gap assessment and providing leading actionable recommendations for sustainable cost outcomes
• Deploy and Manage - assistance by SOP/ process implementation support, PMO support for automation initiatives and quantification of cost savings, concurrent monitoring of key plant initiatives and SLAs

Our engagements have delivered benefits around improved cost visibility, enhanced operational efficiency, data driven decision making through automations, stregthened governance, compliance & risk oversight.

We collaborate with our clients to conduct a thorough review of cost value chain, focusing on achieving objectives of controls and cost efficiency and operational excellence through our expert cost optimisation solutions across key cost levers - material costs, indirect expenditures, capital investment and project spending.

Our approach focuses on precise cost analysis, strategic process redesign and effective implementation to deliver tangible results through a structured approach including: 

• Diagnose - detailed review of current processes, operating model, cost drivers for assessing maturity and performance 
• Design  - identification of improvement opportunities through gap assessment and providing leading actionable recommendations for sustainable cost outcomes
• Deploy and Manage - assistance by PMO support for key capex initiatives, ERP implementations, concurrent monitoring of key contracts and SLAs, post implementation support/ assessments, analytics and MIS reporting

Our collaborations with clients have consistently yielded exceptional benefits around optimised cost, enhanced operational efficiency, data driven decision making through smart automation, fortified compliance and risk management.

Conduct a thorough review of supply value chain, focusing on achieving objectives of maximised operational performance across key domains such as demand and operations planning, materials management, network optimisation, and supply chain quality assurance.

Our assistance helps clients attain cost transparency and control assurance through a methodical approach comprising: 

• Diagnose - A comprehensive evaluation of existing processes, operating models, and cost drivers to assess maturity and performance levels.
• Design - Identification of improvement opportunities via gap analysis, coupled with the provision of cutting-edge, actionable recommendations aimed at sustainable cost optimisation.
• Deploy and manage - Facilitation of implementation processes to ensure coherence between projected outcomes and stakeholder expectations.

Our engagements have consistently yielded substantial benefits, including enhanced cost control, increased operational efficiency, data-driven decision-making capabilities facilitated by automation, strengthened governance and compliance frameworks, and robust risk mitigation strategies. This comprehensive approach ensures a strategic alignment with our clients’ business objectives, maximising value across the value chain.

We understand the evolving challenges faced by the CFO Office and provide solutions around three key focus areas - Core finance operations, management reporting (MIS) framework and ERP utilisation and automation. Our tailored solutions include:

• Tactical or core operations re-engineering - including solutions for chart of accounts review and standardisation, financial reconciliation and consolidation automation, book closure lifeycle optimisation
• Management reporting framework enhancement and automation to ensure non negotiables of MIS i.e. accuracy, timeliness, integrity and consistency
• ERP optimal utilisation and automation enhancement through a two-step tailor-made approach including future readiness assessment of ERP readiness and identification of improvement opportunities, followed by implementation of agreed improvements

We provide a holistic portfolio of sales channel risk management and compliance solutions, meticulously crafted to empower clients to maximise the potential of their sales networks while mitigating associated risks and fostering enduring value creation. Our services encompass:

• Sales strategy audit 
• Channel risk optimisation
• Sales expenditure and ROI analysis 
• Distributor and partner experience assessment
• Net promoter score evaluation

The role of advanced sales channel risk management and compliance is pivotal in: 

• Guaranteeing product and service availability at competitive pricing 
• Deteriorating unethical sales channel practices
• Refining the sales channel ecosystem

Through these strategic solutions, we ensure that our clients not only sustain but also amplify their market positions.

We offer a comprehensive suite of customer risk management services that span the entire customer interaction journey, from evaluating customer touchpoints to optimising the efficiency of customer service operations. Our bespoke solutions are meticulously designed to align with the distinct requirements of clients.

Our service offerings include: 

• Customer segmentation and risk assessment
• Customer experience optimisation 
• Customer lifecycle management
• Customer service operational excellence

By leveraging a human-centric, technology-driven approach, we have consistently delivered sustainable business outcomes, which include:  

• Increased customer satisfaction and loyalty 
• Proactive risk detection
• Competitive edge 
• Informed, data-driven decision-making 
• Enhanced operational efficiency 
• Robust regulatory compliance 
• Strengthened security protocols 
• Empirical insights and strategic recommendations

Our expertise ensures that your organisation not only navigates but thrives in the dynamic business environment, translating customer interactions into long-term value.