Data Management

Understanding and managing data risks

In a global marketplace where systems, people and processes are interconnected, data is a valuable and strategic enterprise asset. Businesses and auditors constantly make decisions based on the data held within their IT systems. As systems become more complex and integral to the operation and direction of the business, the importance of the underlying data and information generated has never been greater.

Your organization needs to feel confident and comfortable that the information generated from the data held within the business can be relied upon to help you make the right decisions and accurately identify opportunities and risks.

Companies rely upon complete and accurate reports in order to make good decisions. Often these reports are the result of complex calculations across multiple systems and very large volumes of data that cannot be tested using traditional audit techniques.

Potential issues

• User discover data integrity issues resulting in,
  • inefficiency or necessitating costly rework
  • concerns over the data shared with or received from third parties
  • excessive customer complaints or disputes
• Management does not have information readily available to make effective decisions
• The success of system implementation projects depends on significant data conversion, integration or data cleansing activities
• There are potential overpayments or revenue leakage issues
• Complex spreadsheet models support key business decisions
• End-User Computing (EUC) environment not supported by IT team
• Clients not having internal skill set or capacity to perform electronic data analytics and testing of complex business logic on a periodic bases

Our approach

As part of our data management service, we develop and implement customized as well as industry-based solutions using a number of well-established tools, techniques and methodologies, helping your company conduct robust, detailed analysis and reporting of data. We add value by identifying and managing data-related risks through:

• Reviewing the underlying data to ensure it is fit for purpose prior to any analysis or reporting
• Designing auditable, supportable programs to analyze and aggregate data from disparate systems and sources to assist in providing information previously hidden from the organization
• Independently remodeling the client's business rules and processes on our own systems in order to re-perform client's analyses. This ensures that reports and systems are operating as expected and can be relied upon to run the business

How we can help

Our Data Management team focuses on helping organizations better manage their data. We have specialists across the country with a wide range of proven methodologies and tools that cover data analysis, data assurance and other areas.

We have extensive experience in:

• Data analytics
• Data modeling
• Data conversion
• Automated application controls and report base lining
• Automation of end-user computing

In addition to deep technical knowledge, our team is able to draw upon a wealth of industry-specific and financial experience. Contact us today for help in understanding your data and addressing any associated risks.