Automated Auditing & Compliance for Workday is Here: Meet Smart Audit
Kainos has today launched Smart Audit, a new automated risk management platform for Workday. Adding to its flagship suite of cloud-based platforms, Smart Audit empowers organisations to overcome the increasingly complex audit and compliance challenges that arise in a fast-paced, evolving digital landscape.
As reports of fraud and data breaches continue to grow, and legislations like GDPR, CCPA and SOX evolve, it’s essential that organisations have effective controls in place that are robust enough to protect against serious financial, legal, or reputational consequences. Smart Audit provides businesses with automated, proactive auditing of the entire Workday estate, cutting costs and improving information control by identifying and helping to prevent critical issues.
Smart Audit is an out-of-the-box solution that eliminates time-intensive manual audits and monitoring, addressing the three most common compliance issues that organisations face in an evolving digital landscape:
Segregation of Duties (SoD)
Non-compliance with regulations such as Sarbanes Oxley can have devastating financial, reputational, and criminal consequences for organisations. Smart Audit instantly detects and alerts on SoD conflicts in Workday to mitigate the risk of fraudulent activity or accidental wrongdoing.
Data Privacy
As strict data protection regulations emerge and expand their reach, it’s essential that organisations have the tools and processes in place to secure sensitive, personal data stored in Workday. Smart Audit allows organisations to proactively protect the data of entire global workforces across every tenant by auditing who can access this data and identifying events that indicate abuse of access.
Privileged Access
Workday contains multiple highly sensitive tasks and business processes. But identifying and reporting on who has privileged access is challenging and tracking who has used their access to perform high risk actions is like finding a needle in a haystack. Smart Audit enables tracking of who can perform key actions and automates evidence gathering to show if changes are appropriate.
Commenting on Smart Audit, Kainos Chief Product Officer Geoff McMinn said: “We’re very excited to be able to offer Workday customers another powerful, automated solution to make their Workday experience even greater. A lot of time and research has gone into Smart Audit and we’re confident that its out-of-the-box controls will alleviate the audit and compliance pressures that businesses increasingly face. Smart Audit delivers instant value for organisations who find that a lack of time, expertise and capacity is inhibiting their ability to implement robust controls that support compliance.”
Kainos Workday Global Practice Leader, Malachy Smith remarks: "The launch of Smart Audit showcases our continued commitment to bring innovative solutions to the Workday Eco-system. Building on our proven track record in the automated testing space with Smart Test, Smart Audit is going to bring further benefit to Workday clients from a compliance and monitoring perspective."