Client Challenge
A major insurance provider faced significant challenges with its SOX compliance program. The organization’s control testing was highly manual, leading to:
- Delayed data gathering due to user submission delays.
- Excessive labor required to initiate, monitor, and complete SOX testing.
- Inefficient tracking of evidence and test results, causing compliance risks.
- A quarterly process that often took three months to complete, creating a continuous burden on compliance teams.
The client needed a solution to streamline SOX testing, reduce manual effort, and ensure timely completion.
Our Solution
SureStep was engaged to design and implement a fully automated SOX control testing system, leveraging our expertise in workflow design and automation. Our approach included:
- Designing a workflow-based SOX testing system that automatically initiates testing at the start of each quarter.
- Automating the creation of test results, with pre-defined templates and evidence requests for each control.
- Building a user notification system that automatically sends email reminders, data collection requests, and escalation notices for overdue submissions.
- Developing a "one-click" initiation feature for SOX auditors, allowing them to launch the entire testing process with a single action.
- Implementing robust tracking and reporting, providing real-time visibility into test status and user submissions.
- Configuring automated reminders to ensure users complete their assigned tasks on time.
Results Achieved
- Reduced SOX testing duration by 50%, turning a three-month process into an efficient, automated workflow.
- Eliminated manual data collection, with users receiving automated requests and reminders.
- Enhanced compliance tracking, with real-time visibility into test progress and completion rates.
- Increased user accountability through automated notifications and escalation paths.
- Freed up compliance team resources, allowing them to focus on higher-value tasks.
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