Footwear Retailer Increases Productivity of Internal Audit Team with Automated Workflow
VANCOUVER, British Columbia, April 5, 2016 /PRNewswire/ -- ACL today announced that Payless ShoeSource, the largest specialty family footwear retailer in the Western Hemisphere, has deployed ACL™ GRC to improve the productivity of its internal audit team without increasing headcount. Payless was already utilizing ACL™ Analytics, and determined it could increase performance by automating certain SOX compliance management activities, increasing internal audit projects completed and enhancing audit quality through implementing ACL GRC.
Payless ShoeSource has been selling quality shoes at affordable prices for sixty years. The company employed more than 25,000 people worldwide at the end of 2015, and its internal audit team needed to increase the number of internal audit projects it conducts, without the added costs of new hires.
"We needed a data-driven platform that could be easily integrated with our existing analytics tools and that could 'hit the ground running,'" commented Annie Shaffer, CPA, CIA, director of internal audit, for Payless Shoesource. "We anticipate gaining value from the system as we become more proficient in the use of ACL GRC. It is a fast, easy, and cost-effective route to a more productive and valuable internal audit function."
Shaffer anticipates that the use of ACL GRC will clear up the restrictions that come from a lack of workflow and automation inherent with using standard, desktop-installed software, and will create a reporting dashboard for management. It will also enable the internal audit team to increase the number of audits it conducts. "The data produced by our operational audits can now be shared more easily among executives and business owners, allowing Payless to turn analysis into actionable results," she added.
"Payless needed a single platform that could be used for both SOX and operational audits, and ACL GRC provided that solution," adds Dan Zitting, chief product officer for ACL. "Payless can find value in the simple way ACL GRC captures and tracks organizational risk, so they can plan internal audit projects for the greatest impact."
Find out more about ACL's data-driven audit management software solution at: www.acl.com/solutions/audit-management/
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