Reducing Fixed Engagement Cost While Increasing Audit Quality

Cognizant Softvision Increased Margin and Audit Quality

Challenge

Like many Big Four Firms, our client struggled to efficiently review 10-K and 10-Q SEC documents for their customers. It required hour upon hour of manual effort across various formats and versions. That meant costly associate time, inconsistency and errors. They were overwhelmed by documents; endless versions filled with calculations that needed to be ticked, tied, and validated every step of the way.

The challenge was clear — they needed to perform faster audits, improve accuracy, reduce revisions, and eliminate manual calculation. They needed to do it from the ground up. And they needed to do it quickly.

Solution

Cognizant Softvision was tasked with the job of creating an innovative tool for their entire audit practice.

We leveraged technology such as PaaS offerings and machine learning to fully automate each and every document and tie out the numbers and calculations used across them.

Results

Our software solution instantly allowed the firm’s associates to quickly turn around work for their clients.

The automation and machine learning for data ingestion instantly increased both consistency and quality. And helped save time and increase the firm’s margins.

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