Improving Compliance with Automated Audit Reporting
Overview_
Euvic partnered with a financial services firm to enhance compliance reporting by automating audit processes. The new solution ensured timely and accurate reporting while reducing the manual effort required.
Client_
A financial services organization operating in a highly regulated industry.
Industry
Financial Services
Country
Poland
Challenge_
The client faced significant compliance challenges:
- Manual audit processes: Reliance on spreadsheets slowed compliance reporting.
- Error-prone workflows: High risk of inaccuracies in critical reports.
- Regulatory pressure: Tight deadlines and stringent standards increased stress on teams.
Solution_
Euvic delivered:
- Automated audit pipelines: Built dataflows to extract, validate, and compile compliance data.
- Real-time dashboards: Provided PowerBI solutions for on-demand audit insights.
- Data accuracy tools: Implemented validation rules to eliminate errors.
Result_
Key improvements included:
- Timely compliance: Reduced report preparation time by 50%.
- Error reduction: Achieved 99% accuracy in compliance reporting.
- Reduced workload: Automation saved 30 hours per month for the audit team.
