NEW YORK, Dec. 3, 2020 /PRNewswire/ -- Datricks, the world's first fully automated Governance, Risk and Compliance (GRC) solution that is based on advanced process mining and AI technologies, has announced today that its solution is now generally available to SAP-based organizations looking to quickly and efficiently gain visibility and optimize their internal processes, to mitigate risks and streamline internal compliance in real-time.
Datricks enables CFOs and internal audit teams to gain visibility into their internal processes much faster, accurately, and in real-time, achieving continuous process control that drives excellence in internal compliance and reduces the organization's risk profile.
The solution is already deployed among large enterprises and has demonstrated tremendous value, finding more than 25,000 cases of actual SOD violations, hundreds of duplicate invoices, and almost 800,000 redundant activities in just the past 12 months. On average, Datricks customers implement 34 new CACCs (Continuous Audit Continuous Controls).
Today, large organizations still rely heavily on manual, long-term projects and consultancy services, all of which take time to complete, are heavy on resources and budgets, and are far from being 100% accurate. Datricks sets a new standard: Accurate, continuous internal compliance and control, powered by smart automation.
Datricks' solution has already been deployed successfully in large corporations. One example is a multinational, publicly-traded minerals and chemicals manufacturing company that has been using Datricks' solution for the past year. This company understood that using advanced data analytics can dramatically improve the efficiency of its internal audit processes. Working with Datricks, they quickly found meaningful issues with substantial impact on the business. Handling these issues in real-time has had a significant contribution to the company's continued success.
"We're thrilled to release our innovative GRC solution to the industry and make automated, continuous process control and monitoring the new standard in large organizations," said Haim Halpern, CEO and co-founder, Datricks. "Our solution was designed with the specific goals of preventing internal fraud, achieving efficient internal compliance, and improving the quality of internal processes, automatically."
Datricks helps SAP-based organizations map, understand, and gain full visibility into their internal processes and related issues, quickly and in real-time. Datricks uses an advanced combination of process mining and explainable AI technologies to identify risks and internal compliance issues automatically. Datricks is SAP certified, so implementation is seamless.
With Datricks, CFOs, internal auditors, and procurement teams can get real-time alerts on anomalies and suspicious activities as well as on deviation from best practices, potential losses, and more. For more information, please visit https://datricks.com/