Data Extraction and Transformation
When it comes to the extraction and transformation of client data, technology helps navigate multiple-ERP system environments to reduce the burden on KPMG clients, while powering KPMG Clara and our data and analytics capabilities to refine our risk assessment and deliver new insights.
For companies with several entities, reducing the back-and-forth between the company and an audit engagement team is a priority. We’re doing that with our clients by using leading innovative data extraction and transformation technologies to get more data in less time for a quality audit.
In Action: One KPMG senior manager, engaged in the audit of a company with several entities, knew her client and KPMG team could save hundreds of hours in the testing process by integrating automated data transformation technologies into their procedures to match and map disparate data sets.
Upfront, the KPMG team worked with the client to better understand their process, using those technologies to automate key steps, while troubleshooting exceptions. After just a few weeks, this capability saved time for the client and the KPMG team, which was then able to focus on areas of greater risk, ultimately enhancing audit quality.
Now that the routine is set up, it takes the team less than an hour to run and saves hundreds of hours of manual test work. In addition, the team has been able to share new insights derived through this process. Next, the team’s goal is to integrate the routine throughout the year, saving time at each quarterly review.
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