Trust means that:
- Your customers will buy your products on-line and have confidence you’ll keep their data secure.
- Your suppliers know your systems won’t fail them.
- You have the confidence to move your business forward by embracing technology and the opportunities it has to offer.
With trust in your data and security, with resilience built into your systems, and with the knowledge that your digital transformation will succeed, you’ll have the confidence to embrace your digital future, and enjoy the exponential impact it has on your growth.
Technology
The pace of technology change, regulatory pressures and increasing dependency on technology represent a significant challenge for companies. Business systems must be fully available and reliable to enable business processes to run smoothly, in a well-controlled and transparent manner.
We add value by:
- Assisting clients to identify IT-related risks, evaluate the potential impact, recommend internal controls, evaluate control effectiveness and assist with mitigation
- Providing independent assurance on IT cost effectiveness and assisting in IT cost optimization activities
- Making sure you are ready for the GDPR - entities will need to set their vision, agree on their strategy and constitute their structures to achieve data protection and privacy operational change and compliance. These are not simply legal questions: getting ready for the GDPR requires multi-disciplinary skill sets
- Identifying and closing compliance gaps related to the digital environment
- Identifying risks related to license compliance
- Helping clients implement the process of licensing audits by software vendors to change or extend license agreements
- Helping clients implement licensing audits performed by software vendors under the Terms, such as checking compliance with license compliance
- Negotiation and redress in finding licensing conflict arising from an audit conducted by the licensing of software vendors
- Incorporating principles and process excellence into the client’s organization based on best practices and proven methodologies (ITIL, SAM and SOM)
- Navigating the complex areas of ISO27k, ISO20k and ISO19770 programs
Modern business operations are becoming increasingly dependent on technology that allows the phasing out of a great variety on routine manual tasks by robust automated processes and controls. It makes your business run as one organism that breathes and breeds data.
Do you prepare the organization to unlock new opportunities with data? Do you have concerns about reliability of your data? Is there a need to spend significant amount of time to manually retrieving and/or key data before it can be used for reporting? Do you rely on complex spreadsheets that take a number of days to fill in? Are there bottlenecks in business processes that heavily rely on data?
We provide our clients with confidence in their data through:
- Data governance, Data quality management and Regulatory assurance
- Assurance over your Data governance and Big Data strategy
- Transition and implementation on IFRS 15, IFRS 16, IFRS within client IT architectures
- Solvency II framework (data governance policies, data flow diagrams, data dictionaries, data quality testing)
- FINREP, COREP, MIFID II, AnaCredit, BCBS 239
- Data driven decisions and process automation using Artificial Intelligence
- We use different forms of Artificial intelligence like machine learning, deep learning, etc. to unlock potential hidden in your data and use that knowledge to improve your decision making and processes.
- Creation of dashboards and financial/regulatory/management reports
- Validation of complex reports
- We will validate your reporting to give you confidence and trust in it!
- Management information confidence
- Process Mining and Analytics
- Data mining based on raw system generated process data (process logs)
- End-to-end process visualizations for detailed process understanding
- Process variant and performance analysis
- Data migrations including collection, transformation, cleansing, upload and testing
- Using our own methodology we will help you migrate your data while minimizing related risks
- Master data excellence
- Social Media analytics
- By combining internal data and external public data, we can give you answers on what people say about your company on social network and how the company performance over time and social media.
- Revenue assurance
Given recent high profile events in both the private and public sector, information security and privacy has never been higher on the board agenda. Reputation, trust and brand value can all be seriously affected by information loss and theft. Incidents have often erroneously been attributed to technology issues, and while technology is one of the key components to better information and cyber security, equal attention needs to be paid to people, organisation, culture and processes.
To reduce the risk of business disruptions, meet regulatory compliance objectives and adequately respond to complex security breaches, organizations must integrate security infrastructures as well as constantly monitor standards, policies and controls to stay in line with established parameters. By gaining complete visibility into the security infrastructure, organizations are also able to remediate security gaps quickly.
We provide our clients confidence around the security of their data, employees, organization, etc. through:
- Security strategy and governance reviews and optimization
- Cyber risk assessments and governance
- Third party risk management and cloud security assistance
- Security architecture and security solution architecture design and reviews
- Designing and providing managed security services
- Threat and vulnerability scans, penetration testing and detailed technology security assessments
- Incident readiness and response
- Data protection design, governance and transformation
- Security awareness design and training
ICS and Industry 4.0. Security
Industrial leaders are digitising essential functions within their internal vertical operations processes, as well as with their horizontal partners along the value chain. In addition, they are enhancing their product portfolio with digital functionalities and introducing innovative, data-based services.
With so much change in store, there’s one area that companies can’t afford to ignore: digital trust. Digital ecosystems can only function efficiently if all parties involved can trust in the security of their data and communication, as well as the protection of their intellectual property. Protecting the company and ensuring digital trust requires significant investment and clear guidelines for data integrity and security.
We provide our clients confidence around the security of their Industry 4.0 and IoT platforms, ICS/SCADA systems and networks and SmartCity ecosystems:
- Security strategy and governance reviews and optimization
- Cyber risk assessments and governance
- Threat and vulnerability reviews, penetration testing and detailed technology security assessments
- Third party risk management and cloud security assistance
- Security architecture and security solution architecture design and reviews
- Designing and providing managed security service
- Incident readiness and response
- Security awareness design and training
SAP consulting & services
- SAP system optimisation
- Ensuring Compliance of your SAP with local legislation and Best Practice
- Analysis of the effectiveness of license utilisation from the perspective of cost reductions and legal Risk Management; implementation of processes ensuring long-term cost reductions, management of business and legal risks
- Cost-benefit analysis of custom solutions (Z-programs)
- Tailored SAP training and optimisation of working processes
- SAP GRC
- Tailored implementation of SAP GRC solution
- Consultancy in the area of a requirement analysis, methodology of risk management, control frameworks and compliance (Governance-Risk-Compliance)
- Consultancy in the area of identifying Company risks and managing risks in SAP GRC
- SAP GRC training for users and compliance officers
- SAP Consultancy
- Consultancy especially in the area of finance – modules FI / CO
- Assistance with SAP system changes, upgrades and data migrations
- Ensuring compliance with national legislation
- Practical training for users on how to effectively use your SAP
- Group SAP system – Assistance during the negotiation process with your Group and implementation of local specifics
- User rights Analysis & SoD
- Review of authorisation concept
- Assistance with role definitions and management
- SAP security parameter settings review
- Deep analysis of authorisation concept using specially developed PwC ACE tool
- Quality assurance of SAP projects
- SAP Hana migration consultancy
- Review system settings, SAP basis, users’ access before and after migration
- Data migration review (reasonable assurance over completeness and correctness of migrated data)
- Project supervision– Monitoring the quality and timely completion of project
Non-SAP solutions and tools
- e-Consolidation
- Solutions for preparing consolidated financial statements
- Solutions supporting reconciliation of inter-company transactions and account balances
- Fast and transparent consolidation of the data of individual companies
- Providing consultancy and training in accountancy
- VAT Spectrum
- Automatisation of the creation of tax reports
- Fast data processing for mandatory reports: ”Kontrolní hlášení”, ”Souhrnné hlášení” and VAT return (DPH přiznání)
- Creation of XML files for all the reports for tax authorities
- Automatic VAT ID validity checks
- FAST Report
- New financial statements in an easy and effective way
- Automatic process of preparing financial statements, including cash flow
- Fast report will reduce the time necessary for preparing financial statements by several days
To gain competitive advantage and keep pace with regulatory requirements, organizations are undertaking an unprecedented amount of transformational change. The benefits of such big, IT-heavy projects can be great – but they are not without risks. Failure to manage these risks successfully can have many adverse consequences, both operational and reputational.
PwC can increase confidence in your enterprise projects, programmes and transformational agenda through:
- Establishing project management office (PMO) and supervising project and program execution
- Carrying out and independent assessment of the current project status, the project management processes and the KPIs, including identification of project risks and recommendation for suitable project risk management processes
- Assessing programme and project management, to increase both efficiency and control over entire initiatives and provide transparency through project status reporting
- Assessing contractual and legal aspects of project related third party contracts, identifying the associated risks
- Acting as a supervisory trustee to check that official requirements are in compliance
- Assisting in review and design of project and program portfolio management practices to ensure that business priorities and benefits realization are properly controlled and reflected
- Analysing existing systems landscape and designing target systems architecture and integration
- Assessing technology and organizational readiness for major technology transformations such as Industry 4.0, major process digitalization, migration to cloud, etc.
- Training your personnel on the methodology and best practices of project management and the opportunity to learn tips and tricks from the PwC project managers.
Risk Assurance provides a robust framework to allow for defensive tactics as well as value creation through offensive activities.
Contact us
Risk and Credit Modelling Advisory Services, PwC Cayman Islands
Tel: +1 (345) 914 8678
Risk and Credit Modelling Advisory Services, PwC Cayman Islands
Tel: +1 345-927-9378
