Audit, risk and compliance processes create scattered lists of issues, exceptions and findings in various documents. Management and business managers have no consolidated view of outstanding issues related to audits, compliance reviews or risk assessments. Additionally, limited documentation on current and planned remediation efforts related to these issues leaves gaps in understanding about what is being done to mitigate and address open risks. Finally, not every issue can be addressed completely and some exceptions need to be accommodated. These exceptions can lack the proper review, approval and documentation to ensure the organization understands which exceptions or deviations are affecting the overall risk to the business.

The results of poor issues management starts with little to no visibility or accountability in addressing known risks. Missed issues can fall through the cracks, resulting in repeat audit findings, compliance violations, or significant risks and cost to the business. Remediation efforts can suffer as well, with missed deadlines or poorly coordinated plans to remediate identified risks.

The 4Sight – XTRACK lays the foundation for your Data analytics, Risk assessment & compliance review program to manage exception generated by multiple groups, such as audit, risk and compliance. The use case includes the Business Hierarchy to establish the corporate structure and accountability, Business process based workflow and reporting to manage findings, remediation plans and exceptions.

With 4Sight – XTRACK, you can create a coordinated and consolidated view into known issues. An organized, managed process to escalate issues provides visibility into ownership through your established chains of command. Workflow for proper sign-off and approval of issues, remediation plans, and exceptions ensures identified issues are well managed. As a result, your organization will realize quicker resolution to emerging issues, creating a more secure and resilient environment while reducing costs.

Stop tracking issues in email and get a macro view of all your organizational issues filtered by Business entity, by project, by owner or severity and check the remediation status at the click of a button using XTRACK.

CENTRALIZATION

All the reported exceptions are stored in single platform in a secured way. Audit, Risk, Compliance, Business, Top Management & IT can use the same channel for communication.

AUTOMATION

Achieve Continuous Monitoring, Continuous Auditing, Artificial Intelligent, Robotic Data Analysis.

TRANSPARENCY

Provide holistic view of an organization’s exceptions. Increase awarness among the Business & Top Management and bring understanding of the risk posted to an organization.

DASHBOARDS

Dashboards allow you to visualize the exception reported based on the type, Corporate Level, Severity, Owner, Entity, Business Process etc. Drill-down from visualization to the exception details.

SEAMLESS INTEGRATION

XTRACK can load data from Arbutus, ACL, IDEA, Excel, etc.

And, thanks to 25 years of experience and our consultative approach, we ensure fast, effective implementation, so customers realize concrete business results fast at low risk. Our actively engaged community of more than 14,000 customers around the globe including 89% of the Fortune 500 tells our story best.

Please call 4Sight Technology at +971-6-573 5504 for more details or email to [email protected]