Southern California Edison Adds Visualizations to TeamMate+ for Audit Insight
Internal auditors are increasingly using the wealth of data available to them to assist stakeholders with strategic and complex business decisions, as well as improve efficiency and mitigate risk. The goal is to provide greater assurance and bring valuable insights closer to the organization’s decision-makers.
The internal audit team at Southern California Edison, one of the nation’s largest electric utilities companies, has discovered a more efficient way to share its audit data with stakeholders. Internal audit implemented TeamMate+, Wolters Kluwer’s fully configurable, web-based audit and assurance management expert solution, in March 2019. And, more recently, Internal Audit integrated Microsoft’s Power BI with TeamMate+ to extract the data in the audit system to create powerful visualizations that deliver real-time results to stakeholders.
To begin using Power BI for visualizations, the internal audit team replicated the dashboards that were stored in TeamCentral. After that, Internal Audit partnered with its data science team to build out the additional dashboards it needed to support its various stakeholder communities. Some of the new visualizations created include the ability to track bi-weekly times, utilizations, training for recommendations and observations, project delays and project status.
According to Adam Prohoroff, Senior Internal Auditor at Southern California Edison, automating their reporting process has reduced the amount of time it takes to create standardized reports from a few hours down to three minutes. Additionally, now that more information is being put in the hands of stakeholders, Prohoroff says it’s driving a new level of engagement with Internal Audit.
“We are getting a lot of additional requests for information because we can present data to senior management in a way that visually makes sense to them, and now they want to see what other insights we can provide,” said Prohoroff.
