Al-Rawahy Holdings LLC: A customer success story
Al-Rawahy Holdings LLC comprises of a variety of companies and investments in Oman, UAE, and the UK in a diverse range of sectors
With over 40 years of maintaining a strong reputation, reliability, and family culture, Al-Rawahy Holdings uses Ideagen Internal Audit to provide assurance and assist the organization in achieving its objectives.
We spoke to the Group Internal Auditor at Al-Rawahy Holdings to find out about the organization’s success with Ideagen Internal Audit.
The retrieval of audit data used to be a big challenge for our internal audit team. But now with the recommendation tracker, it works like a breeze and has saved us a lot of time
Key benefits
30% time-saving overall
“Audits have become efficient and effective. We have saved overall 25%-30% of our time, mostly due to the rapid response from business units.”
30,000 USD saved/annum
“We have saved the need to recruit additional resources as we are no longer operating in a manual environment, which would have cost us around 30,000 USD/annum.”
Al-Rawahy’s results-Paperless document repository
“We used to use Microsoft Excel to document and respond to audit observations. We used this process for about six years, adding more and more columns each time. It became quite burdensome."
“With Ideagen Internal Audit, we are now completely paperless. The robust audit trail provides us with improved security and confidence in our audits, and everything is safely stored on the server.”
Al-Rawahy’s results-Paperless document repository
“We used to use Microsoft Excel to document and respond to audit observations. We used this process for about six years, adding more and more columns each time. It became quite burdensome."
“With Ideagen Internal Audit, we are now completely paperless. The robust audit trail provides us with improved security and confidence in our audits, and everything is safely stored on the server.”
The quantitative scoring of risks and controls helps us to make objective decisions. The system also allows us to easily see the relationship between the various attributes in the work program.
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Instant feedback
“The concurrent review is fantastic. It enables me to walk through the process as it has been documented and give instant feedback. This better control is comforting as I can easily see the status of an audit, what has happened, and what is expected to happen.”
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Full visability
“Ideagen Internal Audit has given us the visibility we didn’t have before. I can now easily see my team’s progress, if we’re stuck anywhere, and whether there is something I need to intervene in. Before implementing the software it was much more time consuming to do this.
“Another benefit of this visibility is that everyone in the team is on the same page. We have a consistent flow and method of documentation. We are also better connected as a team and have seen improvements in our communication.”
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Standardization of work
“With Ideagen Internal Audit we now have a workflow, so everyone knows the exact steps that need to be taken. Without this standardization, essential steps could be missed out of the audit process.”
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Engagement
“Ideagen Internal Audit is being used across the organization. Since implementing the software, I have noticed a huge improvement in engagement from business users. It has also saved us a lot of time chasing people up.
“Now with Ideagen Internal Audit it is easy to follow-up. We have more efficient communication with business users who come to us asking what they need to do, instead of us having to chase them.”
Ideagen Internal Audit can help your internal audit departments work faster, improve audit strategy, reduce costs, and enhance productivity