ICFR and GITC evaluators in mid-market organizations have long been faced with few options for data management; rely on spreadsheets or pay hefty fees for solutions built for much larger organizations.
But there is another solution - Peak ICS, a secure web-based internal control management system. Geared towards small and medium-sized corporations, Peak ICS provides the following SOX and CSOX sompliance solutions:
Single Source of Data - One set of controls and deficiencies accessible throught the web. Stakeholders have access to up-to-date information, ceasing the need to update one control description in multiple locations. Cloud-based integration provides links to supporting documents, ensuring your sensitive company data stays within your company, while reducing redundant copies of control narratives and flowcharts.
Greater Accountability - Process and control owners are able to review their controls and sub processes, certify quarterly and update any defeciencies with one click. Peak ICS offers two customizable and automated control certifications for control owners and senior management and/or executives. Our subscribers report greater engagement and knowledge of controls.
Enhanced Analysis of Control Design - Peak ICS facilitates a risk-based approach to control design, enabling evaluators to assess process-level design through risk-control mapping and data analytics. Easily identify risks without controls or easily report on risks by control of financial statement assertion. Track and communicate defeciencies. Gain greater confidence on your control design effectiveness.
Request Management - Control evaluators spend precious time and resources emailing and tracking population and sample requests; time which would be better spent managing risk. Peak ICS' requests module allows for integrated tracking of information requests tailored to the intricacies of an internal control evaluation. Peak understands that there isn't always a linear relationship between the individuals who provide populations, those who retain control documentation and those who own controls. Peak understands that evaluators do not need another email in their inbox. The request module solves these problems, allowing evaluators track and access request in one spot, and allows control owners to easily understand their requirements.
Peak ICS has a low annual subscription fee of $4,800. Included in the fee are unlimited user seats (owners, certifiers, external auditors, evaluators), training and upload of existing data; just a few hundered dollars per month to save hours of ineffecient data management.
Want to know more? Reach out and we would be happy to provide a demonstration and answer any additional questions.