AuditBoard Unveils Enhanced Analytics for UK Teams
AuditBoard, a pioneering force in cloud-based audit, risk, compliance, and ESG management, has introduced robust new analytics capabilities. Designed specifically for assurance teams, these features aim to streamline workflows, reveal crucial insights, and navigate the increasing number of risks faced by organizations.
Transforming Audit Processes
The newly launched AuditBoard Analytics tool is set to support organizations in adhering to the recently updated UK Corporate Governance Code. This code is essential for companies aiming to enhance their business performance and resilience. By aligning with the updated regulations, businesses not only comply but also carve out a strategic advantage in an ever-competitive landscape.
Understanding Compliance Needs
AuditBoard's recent surveys indicate a strong prioritization of the new governance code among audit and compliance professionals. Interestingly, 88 percent of respondents raised concerns about the necessity of adapting to these upcoming reforms, especially within the industrial and tech sectors.
Innovative Analytics for Effective Management
The integration of native analytics and AI-driven automations in AuditBoard helps customers not only to enhance their understanding of control performances but also gives management a clearer view of how risks are being addressed throughout the organization. Notable features of the new analytics tool include:
- Rapid auditing capabilities through automated workflows that execute in mere seconds.
- The ability to quickly pinpoint anomalies, including large variances and unusual transactions.
- Enhanced audit execution effectiveness, thereby maximizing assurance coverage.
Quick Implementation and Custom Solutions
AuditBoard Analytics is designed with fast implementation in mind, offering workflows that can be quickly adopted by internal audit teams. The platform even features a no-code workflow builder, allowing users to create custom analytics without needing extensive programming skills.
Customer Testimonials on Efficiency
Industry experts have praised the new analytics capabilities for enhancing compliance with global auditing standards. According to Elizabeth J. Folsom, VP and CAE of Global Internal Audit and Investigations at Population Services International, the ability to perform tests on complete data sets as opposed to limited samples represents a significant improvement. By automating data analysis, auditors can minimize human error and enhance data quality.
Driving Business Value through Insights
Vidhi Bhansali, Head of Product Marketing at AuditBoard, expresses excitement about introducing these innovations in the UK, emphasizing their potential to empower teams. These tools are not just about compliance; they are about harnessing valuable insights to optimize overall business value amidst rising risks and complex regulatory requirements.
Acknowledged Market Leadership
AuditBoard's commitment to innovation and customer satisfaction has not gone unnoticed. The platform has consistently received accolades from users and was recognized in G2's Grid Report as a leader in both Audit Management and ERM for an impressive 19 quarters. Additionally, it was honored as a Top 100 Software Product in G2’s Best B2B Software Awards and cited as a 2024 Gartner Peer Insights™ customers' choice for Audit Management.
Experience New Capabilities
To witness these new features in action, customers are encouraged to explore the capabilities available at AuditBoard.com.
About AuditBoard
As the foremost cloud-based platform revolutionizing audit, risk, compliance, and ESG compliance management, AuditBoard serves over half of the Fortune 500. Renowned for its performance, AuditBoard holds top ratings on multiple review platforms. Furthermore, for five consecutive years, Deloitte has identified the company as one of the fastest-growing tech firms in North America.
Frequently Asked Questions
What are the main features of AuditBoard Analytics?
AuditBoard Analytics includes automated workflows, anomaly detection, and capabilities for optimizing audit execution.
How can companies benefit from compliance with the UK Corporate Governance Code?
Compliance allows businesses to enhance performance, build resilience, and set themselves apart in the marketplace.
Who can use the no-code workflow builder in AuditBoard?
Any team member can utilize the no-code workflow builder, making it accessible even to those without coding expertise.
How have users rated AuditBoard?
AuditBoard is considered a market leader, receiving high ratings in several categories including Audit Management and ERM on G2.
Where can I find more information about AuditBoard?
For additional insights and details, visit AuditBoard.com to explore their comprehensive offerings.
