The main tool in risk management is a map of risks and control procedures. The principles of selectivity and materiality are applied. The goal is to increase the manageability of processes, to create conditions for finding rooms for improvement.
Risk management is carried out according to the Plan-Do-Check-Act cycle.
There were more than 400 control procedures
in the accountant system, and more then 50 000 errors
Despite having a constantly updated risk map for all business processes and hardwired into the system of control procedures, Severstal SSC were lacking a tool of analyzing how much their control procedures, developed according to the risk matrix, reduce actual errors.
The solution to that problem is Single Control Environment based on Lexema-RPA Platform. SCE is a plan for the implementation of control procedures which is formed on a monthly basis. According to SCE employees monitor which procedures and in what time must be completed, confirm the implementation and attach supporting documents (control traces).
As a result of implementation of SCE we have:
- Control procedures are actualized and executed, they are ranged from critical to information, The final result of control procedure execution is now verified.
- There are no comments on the correctness of accounting from the interested departments, the Client or third parties
- Rush work to correct errors is minimized, which allows to free work resources by eliminating broken control procedures and optimizing workflow processes
The SCE implementation allowed to save 70 mln rubles
on the penalties that could be caused by not execusting control procedues in a right time.