Automating Risk Reporting in Financial Services
February 18, 2020
When an audit identified exposures in a financial organization’s processes, it became apparent that the Company’s approach to risk management reporting was limited and costly. Reporting involved extensive manual effort, and was supported by spreadsheets and workbooks that were difficult and time-consuming to use, introducing errors and delays into the process. Prolifics introduced a data governance and automation solution that elevates risk assessment and makes reporting user-friendly. It collates data, ensures its quality, and creates a reliable view of key finance and compliance functions across the enterprise. This solution saves the Company up to $100,000 a year in labor costs.