Continuous Monitoring

Constant changes in laws and regulations, market developments and technology, force companies to be fully ‘in control’ of their risks, performances and operations. This calls for contiuous monitoring.

Coney builds these ‘continuous monitoring systems’ in collaboration with client project teams. Continuous Monitoring projects consits of knowledge sharing sessions (workshops), investing in an Analytics Platform or finetuning (reusing) an existing Analytics Platform and building a Continuous Monitoring system together. These are projects we build up in logical steps.

Call it GRC Analytics, call it Continuous Monitoring, the focus remains on timely guarding the risks, performances and operation of internal controls and being accountable for this. Red Alerts & Exceptions on transactional level are the outcomes of this monitoring system. Montoring, Root Cause Analysis and Follow-up go hand in hand. Data driven ‘in control’.

We see a transformation from manual checks and balances towards continuous monitoring. More and more companies use data analysis to gain quicker, better control of risks, performances and operation of internal control.

We already wrote an approach for this transformation in 2005, with the title Vista Point. Vista Point is the mindset supporting a data driven continuous monitoring platform. The Analytics Platform itself consists of a compilation of scripts, reports and dashboards that teams can consult to become completely in control again. A data driven, people minded, mindset makes the difference.

Benefits

Why more and more companies choose for Continuous Monitoring:

  • Continuous insight into risks, performance and operation of internal control with the help of a continuous monitoring platform that shows the risks, performances and activities
  • Comply with ongoing changes in laws and regulations and be transparent about this
  • Elimination of manual checks and use of data analyzes to perform these checks automatically and reliably

How do we support our customers?

To begin with, we will come together to look at the current control framework.

Next, we will draw up a plan in which the risks, performance and operation of internal controls that can be monitored with data analyzes. These analyzes automatically analyze the data of an ERP system and other relevant IT resources. We work together to develop a ‘Continuous Control Platform’. We do this in steps.

Finally, we will share our ‘Vista Point’ mindset with your team by training you in the use of a data-driven mindset. After the Continuous Control Platform is up and running, our support staff is available to provide your team with the necessary support and to keep the control framework up-to-date.