Bistra Dimitrova, CIA, CRMA
Internal Audit Manager
Kronos Incorporated is the global leader in workforce management. Our solutions help tens of thousands of customers across the globe to control labor costs, reduce the risk of non-compliance, and improve workforce productivity.
We needed a tool that was easy to use and we discovered IDEA. IDEA was easy to install and didn't require any programming experience to start using. We use IDEA on daily basis and it has improved our effectiveness and efficiency. I can honestly say that IDEA has made us better auditors. We've switched from a sample based audit approach to heavy data analysis approach. IDEA is especially effective at narrowing big sets of data, the speed at which IDEA processes hundreds of thousands of records is phenomenal - with IDEA we save people time. We can identify pain points quickly, provide meaningful recommendations, and 100% assurance. IDEA has helped us increase our reputation throughout the company.
We use IDEA in most of our audits. We've used IDEA for fraud investigations in the area of T&E, P-Card, and payroll. With over 4,000 employees across the globe, we have different systems and we are able to bring data from these systems and join the relevant data fields to get inside the various offices and identify the points of interest. We can easily identify employees who don't follow company policies or maybe submitting fraudulent expenses. More importantly, with IDEA, we are able to identify infractions and quantifiable amounts, which makes our observations and recommendations to management more meaningful.
We are a small internal audit shop and IDEa has helped us conduct our work faster, add value to the company and deliver better results. With IDEA we are allowed to provide 100% assurance and focus on only the problem areas.
I do believe IDEA is a very powerful and versatile tool - the speed with which IDEA processes hundreds and thousands of lines is phenomenal. We use IDEA in most of our audits doesn't matter if it's operational such as T&E, P-Card, or journal entries. Or, financial statements such as fixed assets or revenue. I honestly cannot imagine doing all this without IDEA, and I also want to say the IDEA team actually helped us grow the use of IDEA - they are always a phone call away, and if I have any questions they are always willing to help me.