Celonis has launched Celonis SOX and Internal Controls Manager by Deloitte on the market. This new solution offers comprehensive process visibility to help those responsible for Finance, Management Control, Internal Audit and Purchasing to more efficiently manage risk and compliance, through a data-driven approach.
The Sarbanes-Oxley Act (SOX) requires a high level of rigor in financial reporting. However, traditional control environments still rely heavily on manual, slow, and error-prone testing. This approach also usually detects incidents when they have already had an impact. As a solution to these limitations, SOX and Internal Controls Manager allows companies to modernize and automate these processes by integrating transactional data from multiple sources, facilitating the early detection of deviations and replacing periodic reviews with continuous, real-time monitoring. This solution represents a significant change in the way we approach compliance.
Operational efficiency
A global pharmaceutical company has already used this solution to transform its internal controls in key processes such as Purchase-to-Pay (P2P), Order-to-Cash (O2C) and Record-to-Report (R2R). Thanks to the automation of more than 100 controls with Celonis, the company has managed to reduce the cost associated with controls by 10% in the first phase of implementation and significantly accelerate the monthly closing. This solution has thus demonstrated its tangible impact on operational efficiency.
Among the main advantages of the application are:
- Significant reduction in manual work: This solution automates traditionally time-consuming controls, allowing audit teams to focus on tasks of greater strategic value.
- Real-time risk mitigation: The solution provides continuous monitoring of risks and potential non-compliance, allowing incidents to be identified and resolved before they escalate.
- Greater transparency: This solution offers detailed traceability from the transaction level to global process owners, all from a single integrated view.
- Agile workflow management: The solution facilitates communication and collaboration between teams directly from the application to resolve deviations more efficiently.
“Having experienced an audit myself, I have seen firsthand how traditional risk management tools often miss the operational context and immediacy that really matters,” says Diederick Badon Ghijben, Customer Transformation Advisor at Celonis. “By incorporating process intelligence into audit flows, we help organizations turn compliance into a proactive driver of operational excellence, rather than a reactive obstacle. We are proud to have developed this solution together with Deloitte, a benchmark in this field.”
SOX and Internal Controls Manager allows companies to modernize and automate a large number of processes
For his part, Daniel Jørgensen, partner at Deloitte Denmark, points out that “internal controls have historically been manual and fragmented processes, limited by the lack of real-time visibility.” “With this solution, developed on the Celonis platform, we allow organizations to evolve from a sampling-based model towards data-driven controls management, which translates into a faster return on investment and greater risk reduction,” he adds.
Celonis SOX and Internal Controls Manager by Deloitte joins the Celonis Platform Apps program, which brings together pre-configured, sector-specific solutions developed by trusted partners with deep industry knowledge, all built on the Celonis Process Intelligence Platform.
