How we can help
A lack of automation in the procure-to-pay process and revenue management creates room for error resulting in lost revenue and frustrated relationships.
We offer easy solutions that help mitigate these risks by ensuring compliance, implementing automation, and recovering lost revenue.
External audit vs internal audit vs compliance
Most companies have a legal obligation to conduct external audits on their financial accounts and annual report in order to ensure they follow the national and international GAAP (generally accepted accounting principles). Internal audits have a much wider scope, designed to deliver insights specific to the organisation’s objectives and requirements. Internal auditors monitor and evaluate the efficacy and efficiency of the business’ internal policies, processes, and procedures, and give the business assurance that these are being adhered.
Compliance often works at each level of the business, from Board members and C-suite right through to entry level employees. While the role of implementing compliance is mostly strategic, compliance needs to be hands-on. Without intimate knowledge of the business, compliance functions can’t identify how best to meet an organisation’s goals and obligations. It's also not something that an organisation can simple set and forget. It should be an ongoing process that's open to improvement and able to change when new risks emerge.
At Profectus, we improve internal audit processes, compliance, and risk management, while recovering lost revenue.