Challenges:

  • Owned and operated a large fleet of tanker vessels
  • Hundreds of shore-side employees, and thousands more employees at sea
  • A collection of regulatory controls had to be routinely executed across regions, teams and individuals
  • Managing the controls was becoming increasingly difficult and was crucial for SOX compliance.

Step-1

Created a process based automation workflow application which interfaced with the existing process repository.

Step-2

Captured control and role based master data in the process repository, using process flows (BPM-N 2.0) and a custom control notation.

Step-3

Developed a role based work flow application to automate the reminders to execute controls.

Step-4

Rolled-out globally a cloud based solution enabling users to record control execution and providing intelligent audit reporting for SOX compliance.

Outcomes:

  • Substantial reduction in work load
  • Simplified compliance execution and reporting
  • Improved governance around control data with it now stored in the process repository
  • Greater visibility of process and control information.