Necessary measures taken to ensure that the quality of delivery is always in line with the Tata group's values
To align with the organization's goal to become best in class Global Business Services Centre and to ensure vigilance towards transactions processed from control & compliance perspective, the Concurrent Audit and Quality Assurance (CA & QA) team was formed and it embarked on the journey to ensure error free, robust & continuous process improvement to deliver quality output and enhance customer experience
Purpose
Achieving the organization’s requirements
Standardization of processes
Consistency of Service
Continuous Improvement
Streamlining of systems & processes
Identification & Mitigation of Risk
Error free transaction processing
Collaboration & Calibration
Risk Management & IFC Compliance
Objective
Meeting agreed requirements between organization and customer
Fulfilling legal requirements/compliances
Deployment of analytics based Quality Assurance Tool & Dashboard
Use of emerging technology – RPA & Gen – AI
Continuous engagement with Cross Functional Team
Driving and strengthening Management of Business Ethics deployment
Quality Assurance through Data Analytics
Cutting Edge Technology – Transition from manual based QA process to Data Analytics based approach with QA Tool
Type of Analytics methodology used in QA Tool
Descriptive
- Over 100 Risk Scenarios & 200+ analytical tests for exception generation
- Reviewing exceptions and reporting
Diagnostic
- Identifying Root Cause
- Calibration/ Collaboration with key stakeholders
- Process/ Area wise Review
Predictive
- Predict potential Risks
- Automate new risk scenarios
- Checking feasibility of automation in SAP & Dashboard
- Gauge people related Knowledge Gap
Prescriptive
- Sharing OFIs(Opportunity for Improvements)
- Recommending System Enhancements & Process Improvements
Key Improvements in Quality Assurance Function
Improved Focus and Coverage
QA Team is able to validate 100% of the transactions (except FI/Manual) on near to real time basis with varied data analytics
Digitization of Concurrent Audit and Quality Assurance process
Reports generated on real time basis to prevent materialization of risks
Higher assurance to stakeholders including positive assurance through process standardization & consistency of data control and hereby provide comfort to Internal and External Auditors
Individual Case Management
System based Continuous Audit solution for Concurrent Audit & Quality Assurance
Workflow based solution for keeping data/records for analysis and representation
Handling exceptions end to end and resolving individual cases through workflow-based case management functionality
Descriptive, Diagnostic, Predictive & Prescriptive Analytics
Deep Issue Insights
Benchmarking with Shared Service Industry best practices/ standards on various controls
Strengthened IFC, Risk Management & other compliances
Focus has been shifted from analysing transactions for sampling to analysing the exceptions for validating Non-Conformities
Positive assurance is provided to the management with respect to the KRIs that has generated Zero Non-Conformities
Increased Efficiency
Agile & Process driven Advanced Analytics Tool based Audit
Central repository of defect available on need-based frequency
Increase overall efficiency, transparency and reduced time spent on lower risk & less complex areas