In just a few months, COVID-19 has swept through the world and brought the total number of confirmed cases to over 4.15M worldwide. In addition to drastically transporting people into a changing normal, it has affected economies, business operations and consumer behaviour thus increasing the need for risk management. As a result, businesses have been going to great lengths to secure their people, profit, and relevance. And, in that process, securing IT infrastructure is a top priority.
Across the globe, businesses have been investing in new technology solutions to secure their IT Infrastructure while functioning/transitioning into a new operational normal. Because the world is becoming more dependent on tech, business leaders have been finding that they need technology solutions to survive and are not hesitating to invest in those that align with their business needs. One such solution is the COVID-19 Audit and Analytics toolkit provided by MC Systems in partnership with Galvanize, a Security, Risk, Compliance, and Audit Software company based in Canada.
According to the company this toolkit is a response to the fact that “organizations around the world are struggling to minimize business disruption from COVID-19 while navigating new realities—and a lot of this responsibility falls on internal audit. What makes internal audit unique is its strength and experience in managing uncertainty by uncovering and tackling risk.” As regional leaders in business technology, MC Systems has been working attentively with local organizations such as the Ministry of Finance and the University of the West Indies Hospital to ensure that they maintain optimal success at little to no risk using the Audit & Analytics solution.
Pre-sales Consultant at MC Systems, Javion Nevins says, “This solution allows business customers with a remote work set-up to govern from a distance and even run reports. No matter what happens, managers need to monitor the risk whether strategic or operational to make decisions. This tool allows them to do that securely and off premise.” A feature that the Ministry of Finance has been utilizing to monitor its off-site auditors, monitor payroll data, track customer complaints, and monitor staff.
With uncertainty in the air, food security became a top priority for consumers giving supermarkets more access to customer data and an opportunity to assess that data to improve services. An Audit & Analytics solution allows the company to monitor all the data sets in a business not just employees but customer data as well. Additionally it monitors inventory, payroll and customer activities; all analytics that can empower confident business decisions in this time. Supermarkets can be guided by customer feedback with the platform’s built-in questionnaire/survey capabilities that can be formulated and distributed at check out or via email.
Managing Risk at your Fingertips
In these COVID times a company’s governance and audit team can help keep the business on track. When there is low activity and more risk, as presented with COVID-19, these teams can play a key role in the business’s survival. They use technology and expertise to provide the data that the business needs for real-time action and to plan for what’s next. Though it’s a governance tool, every aspect of the business benefits from it.
“We would recommend that businesses invest now because beyond COVID-19, the solution is an easy integration into your company’s existing IT infrastructure. Data affects everyone and each department can benefit,” Nevins explains. Additionally, “The CEO wants to know his/her risks at his/her fingertips, the Finance people need to know the risk, IT doesn’t have the headache of hardware management because it’s in the Cloud and the role of the auditor has evolved to providing counsel and consultancy in the business. That sounds like a crisis proof success at business continuity.”
MC Systems is here with you as your tech support partner. Let’s start the conversation. Contact us solutions@mcsystems.com | 876 552-8124 | 876 564-2231