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AuditBoard and Protiviti's Transformative AI Solutions

In the fast-evolving landscape of risk management and compliance, AuditBoard and Protiviti are making waves with their recent announcement of groundbreaking AI integrations. Together, these two powerhouse organizations aim to redefine how Governance, Risk, and Compliance (GRC) teams operate, enhancing their strategic value to enterprises worldwide.

AuditBoard, an industry leader in AI-powered GRC solutions, has collaborated with Protiviti, a well-respected global consulting firm. The launch focuses on two key transformative solutions that enhance the functionality of AuditBoard's connected risk platform, embedding advanced AI capabilities into the core of business operations. These solutions promise to yield improved data quality, streamlined workflows, and accelerated processes for risk and audit teams, ultimately transforming risk insights into strategic business advantages.

Key Features of the New Solutions

The innovative offerings include several key features that leverage AI technology:

1. Generative AI Integrations: Organizations can now create intelligent agents that communicate directly with the AuditBoard platform, allowing for seamless interaction and data exchange.

2. Integrated Reasoning AI Agents: These agents utilize AuditBoard data to create connections between risk, control, and issue data, thereby improving search capabilities and boosting awareness across all levels.

3. Intelligent Pre-population Agent: By analyzing historical data, this agent formulates context-aware language to justify and mitigate risks, intelligently pre-populating required inputs into AuditBoard.

4. Accelerated Throughput Agents: These agents streamline data entry to AuditBoard, ensuring that the information is clean and consistent, thus significantly reducing rework and speeding up the intake-to-triage process.

5. Deep ERP Integration: Financial controls are constantly monitored with essential information being integrated directly into AuditBoard, optimizing evidence collection.

6. Automated Data Retrieval: This feature allows the automatic retrieval of vital financial information such as journal entries and account details, which eliminates the need for manual involvement.

7. Advanced Analytics: Users can employ automation workflows within AuditBoard Analytics to facilitate continuous and point-in-time monitoring.

Benefits of Collaboration

This collaborative effort, as described by Jim Sperduto, Chief Growth Officer at AuditBoard, aims to dismantle operational silos. By ensuring that insights from risk, compliance, and audits are utilized to support informed business decisions, organizations can achieve greater strategic alignment.

Andrew Struthers-Kennedy, Protiviti's Global Leader of Internal Audit Financial Advisory Services, emphasizes the importance of integrating intelligence directly into work processes. The goal is to shift from reactive to proactive compliance, enabling organizations to elevate assurance by associating data, context, and actionable insights.

The Future of GRC

The next phase of GRC hinges on the seamless integration of AI into enterprise operations. As businesses increasingly rely on data-driven insights, the new solutions from AuditBoard and Protiviti position clients to harness advanced technologies for comprehensive risk management. This not only boosts operational efficiency but also enhances decision-making capabilities across organizations.

For those eager to learn more about these revolutionary integrations, they are set to be showcased at the Connected Risk Experience during the upcoming Audit Beyond conference, taking place from October 21-23 at the Gaylord Pacific Resort in San Diego. Interested participants can also experience the event virtually.

About the Companies

AuditBoard is recognized globally for transforming risk management through its AI-powered platform. With over 50% of the Fortune 500 relying on AuditBoard's services, the platform is consistently rated highly by customers across multiple review platforms, including G2 and Gartner Peer Insights.

Protiviti offers a wide range of consulting services, applying deep expertise to help leaders navigate their business challenges confidently. With a strong foothold in industries ranging from finance to technology, Protiviti’s commitment to delivering tailored solutions is evident in its ongoing collaborations with major corporations, government entities, and small to medium businesses.

This partnership between AuditBoard and Protiviti is more than a mere technological upgrade; it signifies a pivotal shift in how organizations perceive and manage their risks within the operational framework. Embracing such innovative solutions may indeed be the key to thriving in an increasingly complex business environment.