Tax & AccountingFinanceComplianceFebruary 21, 2020

Chemours & TeamMate+ Audit

Chemours gets their global team ready for a quality assessment review.

Every time you cook with a non-stick pan or easily protect your clothing or carpet from stains, you have the folks at The Chemours Company to thank. Chemours, formerly part of DuPont, is not only the mastermind behind the Teflon™ brand, whose products range from non-stick coatings to fabric protectors, but the company has a long history of inventing and evolving some of the world’s most important chemistry.

More specifically, Chemours specializes in the manufacturing of titanium technologies, fluoroproducts, and chemical solutions. With customers in 130 countries and 58 facilities/laboratories located across the globe, their solutions touch many of the products you use every day in industries ranging from automotive, paints, and plastics to electronics, construction, energy, and telecommunications.

With such a large global footprint, Chemours’ audit team is under tremendous pressure to ensure that their entire audit universe is effectively managed. Previously, the company maintained much of its audit documentation on a Microsoft SharePoint site, which resulted in a lack of standardized workflow and a “hodge-podge of files” with which to work. This made it difficult for internal auditors located both in the U.S. and overseas to adhere to the company’s best practices and audit methodology on each project. In addition to the issues associated with manual internal audit processes, Chemours intends to complete a Quality Assessment Review (QAR) within the next two years, making the implementation of an automated audit management system a top priority.

Chemours began its evaluation process with six vendors, eventually narrowing it down to two. According to P.J. Waicus, Assurance Senior Manager at Chemours, Wolters Kluwer’s TeamMate+ Audit emerged as the number one choice based on three important factors:

  1. The solution’s longevity in the audit management industry
  2. Wolters Kluwer’s adeptness at evolving TeamMate+ to meet the ever-changing needs of internal auditors
  3. The ability for auditors to keep pace with technological change and provide consistency throughout the audit workflow with a fully configurable web-based audit, risk and compliance platform

Since implementing TeamMate+ nearly one year ago, Chemours has already eliminated many of the inefficiencies from its SharePoint days, particularly when it comes to effectively communicating with their international co-sourcing partner to ensure alignment with audit methodology and standardization requirements.

“Today’s global workforce makes it challenging to support and supervise dispersed audit teams to ensure a consistent, reliable audit is produced,” said Waicus. “TeamMate+ provides us with a more connected and collaborative work environment, and even though we aren’t all sitting right down the hall from each other, it makes it seem as if we are.”

With TeamMate+, Chemours can replace their informal audit review processes with quality hygiene review standards built right into the audit system. Better yet, notifications are sent when it’s time for an auditor to review or sign off on a procedure or work paper, allowing Chemours to more easily manage multiple levels of review while maintaining consistent audit methodology.

TeamMate+ also helps Waicus and his team gain efficiencies in generating quarterly updates for the audit committee. While typically a cumbersome process, Waicus credits having a centralized audit system with a 10% reduction in time previously spent on manual data collection, not to mention that the data behind the reports is better documented, confirmable and searchable.

“Being able to capture reviews wasn’t really possible before and that was a tremendous pain point for us,” said Waicus. “With TeamMate+, auditors stay on top of which steps need to be completed and what work they are responsible for, ensuring that every ‘i’ is dotted and every ‘t’ is crossed.”

As pressure to maximize audit resources continues to grow, Waicus looks forward to capitalizing on more of the functionality that TeamMate+ has to offer. Next up, the company will be transitioning to TeamCloud hosting so updates to current software releases are automatically applied and can be taken advantage of more quickly. “There is so much that TeamMate+ can do, and we are just getting started,” said Waicus.

Organization Name: Chemours
Industry: Manufacturing – Chemicals
Headquarters: Delaware, USA
Net Sales: $6.1 Billion
Solution Used: TeamMate+ Audit
Customer Since: 2018


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