Streamlining Auditing Processes with Datawatch Monarch

  • Streamline reporting processes
  • Ensure compliance
  • Reduce non-billable hours

Used by thousands of public and internal auditors across the globe

Datawatch Monarch is the solution relied upon by the leading public audit firms

Customers include

Auditing firm Hungerford Vinton, LLC, reduced audit prep time by 99%.

External audit goals:

  • Effectively analyze client data from disparate sources faster, with confidence and accuracy
  • Decrease the unbillable hours spent manually extracting, rekeying and preparing the audit data
  • Optimize business processes maintaining compliance
  • Improve customer service and satisfaction

Datawatch delivers:

  • Quick and easy extraction of all data from PDFs, flat files and application-generated reports
  • Fast manipulation of the same data for multiple views
  • Comprehensive audit capability in hours versus days, including fraud identification
  • Reduced audit prep time from 15 hours to as little as 2 minutes

On the verge of an FDIC examination, an “at risk” Chicago-based bank performs its own audit to be better prepared to work with FDIC examiners.

Internal audit goals:

  • Compile reports on 500 days of historical financial transactional data including deposits, loans, transfers and reconciliations
  • Access the data from 8 distinct reports in different and incompatible formats for prep, analysis and reporting
  • Perform a full audit
  • Complete everything within a 2-week period

Datawatch delivers:

  • Short learning curve required for access, extraction, analysis, and reporting on historical data
  • Ability to complete the internal audit on tight deadline with accuracy
  • Greatly improved business practices resulting in a positive outcome
  • Platform for a better go forward working relationship with the government

North Carolina health system with multiple hospitals, a medical academic center, and a network of providers avoids compliance failure and harsh financial penalties

Audit goals:

  • Access and extract data from a complex in-house payroll system that had grown significantly through mergers and acquisitions
  • Meet the additional requirements of the healthcare laws related to Medicare
  • Prepare and file the report with a looming deadline
  • Avoid compliance failure and penalties

Datawatch delivers:

  • Access to historical payroll and general ledger data with preparation ability for auditing purposes
  • Capability to mine cost reports, occupational mix and wage data, plus pay rates and types by department
  • Elimination of resource strain and manual rekeying of data from disparate systems
  • Compliance deadline met with ensured reimbursement for patient care
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