Under the pressure of enormous data growth and constant change in regulations, consulting firms such as EY need to adapt fast to stay one step ahead. Prioritizing actions based on risks and taking corrective steps in order to improve operations are demanding tasks that require full transparency into the business operations.
“That is why understanding your processes is absolutely critical, and that’s where process mining steps in” – says Stewart Wallace, Director of Risk Analytics at EY UK.
By using QPR ProcessAnalyzer, EY has been able to shorten the time it takes for them to present insights to their clients, predict errors, and prioritize actions based on risks. Stewart Wallace explains that compared to traditional risk and control methodology, process mining has proven to be an exceptional technological breakthrough:
“Before, you looked at the process documentation and talked to the people in order to form an opinion about what was happening. And we all know that would give you maybe 40 percent of the truth,” says Stewart, "but process mining is using data to tell you what’s actually happening, 100 percent coverage. Process mining gives you a holistic view of all business processes showing what is going right or wrong. Using QPR ProcessAnalyzer we also get a comprehensive understanding of root causes and how to take corrective actions for improving operations."
Learn more about how Process Mining is used in Internal Audit
In their insightful presentation and in-depth interview at QPR Conference 2019, EY UK shared their experience in leveraging Process Mining to solve challenges for clients in various sectors.
Access the full case study to learn more about how EY is helping their clients to: