Arbutus Software Inc. , in corporation with their regional partners, have published these case studies illustrating how certain clients have addressed specific challenges by implementing Arbutus technology.
Although these case studies are not by Sepia Solutions clients, they remain relevant examples of the type of objectives that can be achieved using Arbutus Analytics software. The documents were originally published by Arbutus Software inc.
Transforming Prudential Bank’s reconciliation journey
Enhancing reconciliation and settlement processes at Prudential Bank Ltd. Accra, Ghana
Arbutus revolutionised reconciliation by streamlining financial processes, ensuring data integrity, and maximizing value. It achieved significant time savings, improved data accuracy, and proved cost-effective.
Implementing anti-money laundering (AML) solution with Arbutus
Fortune Sacco Ltd., operating in Kenya, needed robust financial reporting controls to comply with CBK’s anti-money laundering (AML) and terrorism guidelines (CBK/PG/08).
Fortune Sacco now assesses the validity of each customer transaction, enabling informed decisions. The finance and audit teams receive timely reports on transactions and customers of interest.
Continuous auditing & monitoring
ME Elecmetal, global supplier of solutions for mining increases productivity with continuous auditing and monitoring.
- Faster response time
- Effective team integration
- Automation of SAP processes
Working within the authorisation priviliges of the SAP system, the audit team now have direct, independent access to SAP tables, enabling unlimited areas of analysis. This data access through Arbutus SmartLink+, combined with the powerful analysis features of Arbutus Analyzer, now make impactful analyses of the SAP data available to the audit team.
Enhancing internal controls performance with continuous monitoring & automation
National Applied Research Laboratories (NARLabs) is a Taiwanese independent non-profit institute that focuses on most critical research areas.
At the heart of NARLabs audit team’s agenda was the critical evaluation of the design and operational effectiveness of its internal controls.
The integrity of data processing stood as a paramount concern for the National Audit Office and The Directorate General of Budget, Accounting and Statistics (DGBAS) of Executive Yuan, with a spotlight on its accuracy, completeness, security, and reliability.
In parallel, the overarching goal for NARLAbs headquarters was to orchestrate the centralisation of administrative management operations spanning their diverse scientific research centres.
Safeguarding taxpayer funds; battle against tax fraud and financial misuse
The National Revenue Agency (NRA) in Bulgaria is a specialised government body, subordinate to the Minister of Finance.
- Detect fraud & financial abuse
- Import different file formats
- Perform analysis
- Export results
The NRA team of professional auditors has significantly increased the number and effectiveness of conducted audits, which has helped to increase the detection of tax fraud and financial abuses. In 2017 alone, Arbutus was used in 624 control proceedings.
Enhancing anti-fraud measures in the energy & utilities sector
A worldwide group of energy and utilities companies with approximately 7000+ employees and assets of $19B+
A major player in the energy and utilities sector based in the USA sought to fortify their internal controls against fraud and policy violations. Of particular concern were corporate credit cards and vendor master data.
With a vast array of transactions influenced by employee roles, locations, and international operations, manual review processes, spreadsheets and sample-based audits proved inadequateto address the scale and complexity of potential risks.
Ensuring data integrity during system conversion
One of the largest food and drug retailers in the USA, with over $ 25B in revenue, 2000+ stores in 30+ states
As the organisation underwent significant growth and expansion, it faced the complex task of overhauling systems across multiple distribution centres. The critical concern was maintaining data integrity during these system conversions. Specifically, verifying any discrepancies required meticulous attention to detail.
Enhancing SOX compliance
Managing 170+ SOX-related controls with over 80% classified as key controls.
With Arbutus, the once-daunting Oracle Security Baseline transformed.
What once consumed days, now unfolds in mere minutes. Datasets harmonised effortlessly and the mundane transformed into efficiency. Testing the Oracle Security Baseline manually would take 3-5 days due to the numerous datasets. However, the Arbutus script reduced this to less than 5 minutes.
AML compliance
Brazil’s Banco Paulista adopts risk-based approach to AML compliance, aligning with central bank regulations.
Amidst the rigorous terrain of banking regulations, Banco Paulista stands out as a paragon of compliance excellence.
Charged with fulfilling the Central Bank’s exacting requirements delineated in chapters 3461 and 3380, the institution not only achieved compliance but surpassed expectations.
Through seamless integration of Arbutus Analyzer into its operations, Banco Paulista not only upheld regulatory standards but also solidified its role as a reliable guardian of financial integrity.
Internal audit transformation
Maxis’ internal audit journey to data-driven assurance.
Maxis is the leading converged solutions provider in Malaysia providing a variety of high quality digital services encompassing voice, data, and solutions.
Arbutus Analytics played a pivotal role in the transformation journey.
In an industry where data sets can be dauntingly large, Arbutus Analyzer proved invaluable in handling millions of rows of data with ease on the auditors’ laptops, making it the ideal choice for non-technical and technical auditors alikes.
More Arbutus case studies?
The Arbutus case studies above have been published by Arbutus Software Inc. The following success story has been documented by a client of Sepia Solutions:
Automated analytics: Continuous monitoring saves € millions
Using Arbutus technology, our client was able to report exceptions, improve business processes and save over € 4 million. [read success story]
