Metcash is a leading Australian grocery and liquor wholesaler and distributor with over 5,000 employees, a market capitalization of $3.2 billion, and an annual turnover of $12 billion.
“With Monitor™, you get comfort that issues are actually being rectified.”
Grant Katz, Chief Audit Executive
SAP®, ACL™ Data Analysis, ACL™ Direct Link
Managing business activities across different databases and legacy systems
Typical of any large and well-controlled business, Metcash uses state of the art technology to manage its accounts payable, payroll, HR, taxation, accounting and warehouse operations. However, most of the applications used to run these particular processes operate in isolation of each other, resulting in separate data types, separate files, etc. This made it difficult to manage exceptions as they were identified.
Metcash handles $5.4 billion in transactions annually, so trying to manually manage exceptions was tedious and time consuming, due to the sheer size of the company’s operations. Staff had to deal with numerous MS® Excel reports that were housed on a common drive, which led to a great deal of frustration.
Monitors all data to provide a complete and holistic view of the business
The CaseWare™ Monitor solution concurrently monitors all transactions from multiple data sources and identifies irregularities. Staff is automatically alerted of any problems via e-mail or text message (SMS). This helps to ensure that problems can be resolved right away.
Assurance, Quantifiable Savings and Exception Management
Metcash received assurance that internal controls were in place to mitigate risks in its business. As a result of resolving the issues that were identified ― especially those related to accounts payables — the company was able to reap savings to the tune of approximately $1.8 million.
According to Metcash executive Grant Katz, “It’s very well to identify issues, but it’s the rectification of the issues that’s the most challenging.” He believes that when you consider the ISO 31000 standard for risk management in business, monitoring is the area that’s the most important. “With Monitor™, you get comfort that issues are actually being rectified.”