A technology solutions company created an ROI-based approach to automate audit controls and processes. The company needed guidance on using next-generation robotic process automation (RPA) technology to automate repetitive and time-consuming accounting controls and processes Protiviti helped build a methodical RPA technology strategy to drive efficiencies and cost savings within key business areas of the audit department
The client identified an opportunity to deploy robotic process automation technology within its audit department to automate Sarbanes-Oxley (SOX) control testing. Because of the necessary investment, the audit department was keen on partnering with the business to help understand the potential value that automating certain SOX compliance controls and processes could bring to the organization. Looking to maximize the ROI of their automation effort and avoid missed opportunities, the audit department approached Protiviti for guidance, with one simple question: “Where and how do we get started?”
The project team developed a deliberate and methodical 4-phase assessment approach focused on prioritizing RPA candidates based on their investment return value, while avoiding the temptation to over-automate: Identify – align on assessment objectives and identify SOX process control sets/activities with automation potentialEvaluate – define evaluation criteria and select automation candidates using a Protiviti-developed automation evaluation methodologyCategorize – define automation themes and group control sets/activitiesPrioritize – rank controls/activities and build an automation roadmap, using high-priority projects in the pilot
Organizations that take risk-informed and ROI-based approach to their automation investment are more likely to succeed in their RPA efforts than those driven by pressure to innovate without a clear, outcomes-driven strategy. This project was valuable in highlighting candidates that should – and shouldn’t – be automated within the company’s audit department. The Protiviti project team’s methodical approach helped the organization further define its RPA strategy and automation roadmap, allowing management to move forward with confidence in the type of return each automated activity could generate.
