Strengthen your organizational compliance with NetSuite
Many organizations struggle to effectively implement compliance controls due to the complexity of requirements and ever-changing regulations. Rand Group can extend the native compliance capabilities in your NetSuite ERP solution to make audits easier by helping you monitor critical events, track changes to key financial configurations, delegate authority systematically, and allow for risk mitigation and trust in the financial system.
Simplify compliance, reduce risk, and become audit ready
Organizations are subject to multiple types of compliance requirements and managing compliance and risk has grown increasingly complex. Organizations can no longer rely on spreadsheets or basic collaboration software to succeed; however, implementing an effective compliance and risk management solution specific to your business objectives can be challenging. NetSuite’s compliance and risk management functionality can help you overcome key challenges such as ongoing changes to regulatory requirements, increased regulatory inquiries, and a rapidly evolving business technology landscape.
With our holistic solutions tailored to your company, you can ensure your organization is always compliant. Easily implement controls most important to your organization like account reconciliations, approval authority, and segregation of duties so you can ensure the reliability of your accounting, better prepare for audits, and mitigate risk. Rand Group is your partner to help you deepen NetSuite’s compliance features to help you handle increasingly complex regulatory, operational, and compliance challenges as your company grows. Additionally, automation allows for greater efficiency, reduces risk, and enhances your ability to track data changes for enhanced financial integrity.
Easily assign roles and permissions
Control your individual user access and the tasks they are allowed to complete by provisioning access-based security roles. Automatic matching control features allow you to track the various roles and users by their assigned security levels, find the best matching security role for a user’s needs, and monitor future security needs.
Create custom workflows for financial accuracy
Build your delegation of authority into the system and set up customized workflows to process and enforce approvals for every transaction and maintain a reliable audit trail, including a time date stamp for each approval. Automating these processes minimizes labor-intensive and error-prone back-end reviews.
Perform quicker and detailed audits
Minimize time spent on audits with audit support capabilities that seamlessly document all relevant data and transactions. Drill-down capabilities empower auditors to drill down to line items so they can conduct their audits more effectively. Automatic alerts notify managers when someone has changed a sensitive field so they may investigate and identify anomalies.
Capabilities of an effective compliance solution
A powerful compliance solution from Rand Group powered by NetSuite not only helps protect your organization but also gives you a competitive advantage, enabling you to make business decisions confidently, assured they are aligned with your strategic objectives and risk tolerance.
A compliance and risk management solution from Rand Group:
- Helps you efficiently complete risk assessments
- Ensures you comply with standards and regulations most relevant to your organization
- Protects your assets with role-based security access
- Boosts trust and accuracy in financial statements
- Automates transaction approval processes
Leverage internal controls to ensure SOX Compliance
Whether you are a public company or just taking your first steps toward going public, you need to ensure compliance with the Sarbanes-Oxley Act of 2002 (SOX). Rand Group can help your organization meet SOX obligations by extending and deepening NetSuite’s native compliance functionalities so you can confidently anticipate and address changes in security, segregation of duties, and configuration while automating your control processes. Our solutions will provide a superior compliance foundation to meet your organization’s control requirements so you can certify the accuracy of your financial statements.
Segregation of duties – with a robust permissive access model, you can demonstrate to auditors that each user only has access to what they need to do their job. Audit trails display who can access what data, and who could access it in the past.
Change management – seamlessly track and manage all customizations and configuration changes in your financial system and continuously audit for SOX compliance. Unlock a consolidated view of all changes happening in your environment, with the ability to filter down to see a detailed view of specific changes.
Security – internal controls have the added benefit of helping organizations keep sensitive data safe from insider threats, cyber-attacks, and security threats. Ensure financial data is secure, prevent malicious tampering of financial data, track data breach attempts and remediation efforts, and keep event logs readily available for auditors to demonstrate SOX compliance.
Discover other business solutions offered by Rand Group
Rand Group offers numerous solutions designed to meet your specific needs and support your compliance and risk management operations. Our industry experience combined with years of working with various business technologies positions us to deliver solutions that not only solve immediate business challenges but also provide stability and scalability.
Fraud Prevention
Protect your revenue and customers with a powerful fraud prevention solution. Seamlessly review transactions and events in real-time to detect fraudulent activities related to accounts, payments, and purchases.
NetSuite ERP
NetSuite’s ERP software includes everything your business needs – from financial management to inventory, supply chain, and warehouse management. With powerful compliance and risk capabilities, you can anticipate and proactively manage risk on an ongoing basis.
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Infrastructure matters. When your network or applications unexpectedly fail or crash, it can have a direct and far reaching impact on your bottom line and ongoing business operations. In some extreme cases, data and monetary losses from unplanned outages can even cause a company to go out of business.
Are your software applications in need of a health check?
Rand Group can perform a full evaluation of your current system and processes and will provide insight into how you measure up. This consultative service is beneficial when determining if you are getting the most out of your software.
Let’s talk about how we can transform your business
