Financial Services

More than any other sector, financial departments within organizations are under enormous pressure to develop the kind of expertise that generates strong profitability, create effective risk management and adapt to regulatory constraints (IFRS, Basel 2, etc.).

The Financial services sector represents one of the most regulated industries in the world. Increased competition, market shifts, and technological developments have spawned unprecedented changes in the global financial services industry. Financial services companies have come under a barrage of regulations such as the Sarbanes-Oxley Act in the US, Canadian Bill 198, and Turnbull in the UK.  The Sarbanes-Oxley Act. is only one in a long series of government rules that have a direct impact on the IT and governance decisions made in financial services companies.

Over the last several decades, companies managed their financial, quality, health & safety, environmental, and other compliance requirements through traditional hardcopy means or via a collection of disparate systems (point solutions).   Even with the deployment of globalized ERP solutions, the specific compliance areas are still often managed in silos, divided along organizational or domain lines.  In addition, the management of risk and corporate governance within organizations has often been managed separately from the traditional compliance areas.

Due to several market and regulatory factors, most companies will have to develop strategies and systems to accomplish more efficient compliance management throughout the enterprise in order to maintain profitability and market share while reducing risk.  Technology innovation and a merging of governance, risk, and compliance (GRC) regulatory philosophies now allow companies to achieve business improvement through the integration of all their GRC requirements throughout the enterprise.

To enhance their competitive advantage in this changed environment, one of the strategies financial services companies are increasingly embracing is the use of new technologies, such as Amadeus software solutions, to streamline internal processes and deliver maximum value to their clients. At present, most companies manage their internal controls documentation and evaluations (audits, testing, design effectiveness evaluations) in an ad hoc, highly manual manner, using spreadsheets, documents, legacy software or a combination. Progressive companies realize that these methods are no longer acceptable in today’s highly competitive market.

Technological solutions and expertise of DECIMAL take up all theses challenges of this sector.

Whether it’s a question of financial, operational or internal audit performance, DECIMAL is your first-choice partner for improved performance!

Our solutions enable you to do the following:

Optimize your financial performance

•  Activity-based costing and management 
•  Profitability optimization
•  Budgeting process
•  Cost management

Provide quality and compliance e-management

•  Process automation
•  Document management
•  Complaints management
•  Learning Management System
•  Compliance intelligence

Optimize controls, compliance implementation and risk management

•  Internal audit
•  Financial compliance
•  Risk management
•  IT governance