Featured Company: Reliant Solutions
Web Site: www.reliantaudit.com
Headquarters: Laguna Niguel, California
Year Founded: 2006
Founder: Dipak Shah
Investors: Privately funded
Employees: 26
Company News: www.reliantaudit.com/news_events
*Updated 6/24/08
By Dipak Shah
Reliant provides software and consulting services for chief audit executives who want to reduce the high cost, complexity and uncertainty of enterprise-wide audits. To effectively manage risk, auditors need efficient audit processes, reliable test data and continuous visibility into risks, controls and audit results at any time. Reliant delivers all of these and more with the only continuous risk management solution for auditors. With Reliant, organizations can continuously monitor controls, streamline audit operations, automate control testing and remediation, and implement a dynamic risk framework that shows up-to-the-minute status of audit programs. Using pre-packaged, standards-based controls for compliance, operational and financial audits, we help organizations reduce risk while gaining efficiency, quality, insight and assurance throughout the audit process.
Audit has traditionally been a labor-intensive effort that requires huge amounts of manpower and time at the end of every quarter and fiscal year. During this time, other operations can come to a screeching halt as resources are poured into the audit efforts. As everyone who has gone through an audit will tell you, this is not an efficient process. But there’s something else that gets lost; the business intelligence and business process management improvements that you can derive from continuous risk management.
And that’s how Reliant is different. It would be hard to find a company today that is looking at risk in a continuous manner. A controller may know the balance in bank accounts at any given time. Your COO may know the inventory at any time. There are even compliance managers who can look back and identify where risk has occurred using spreadsheets. However, if you ask a CEO or CFO if they know where the risks are high for their business on a given day, all they will have are some static reports from the past. This is where Reliant’s continuous risk management will fundamentally change how businesses view audit. We enable companies to observe, understand, manage, and remediate risk continuously throughout the quarter, instead of waiting until the end of the quarter for the avalanche of financial reports.
Reliant Solutions helps to improve efficiency, quality, insight and assurance throughout the audit process.
