At every CaseWare Customer Conference held in Australia in recent memory, Dwight Wainman (founder and CEO of CaseWare International) always talks about data and how ‘big data’ availability will change the way we do audits.
With advancements in technology, more and more data is being made available to be shared between applications and more data is now easily available to auditors. With the improvements in cloud technology and the internet, we are moving to cloud-enabled applications where it is even easier for different cloud applications to exchange information with each other, and even populate databases.
Auditors are expected to utilise this access to data and make it an integral part of the audit.
CaseWare is a technology company with developments specially geared for auditors and finance professionals. We have always tried our best to find better ways to use any new technology to help our clients to become better auditors, better accountants and most importantly, better business partners for their clients.
When CaseWare Australia & New Zealand received confirmation from CaseWare International that CaseWare Cloud Analytics was coming out from research and development and would be ready for release in 2017, we immediately allocated resources to ensure that we could release CaseWare Cloud Analytics in Australia as soon as practicable.
So how did we go in preparing CaseWare Cloud Analytics for the Australian market?
Learning from our experience when we were developing CaseWare Cloud SMSF Audit, we first started our work internally to get an understanding of the following areas:
- What is Analytics, CaseWare style?
- How can Analytics help our customers?
- What is the long-term vision for CaseWare Cloud Analytics?
- How are we going to best deliver CaseWare Cloud Analytics for practical use?
Once we had an understanding of Analytics and of what CaseWare Cloud Analytics was capable, we went out and talked to a number of our clients, to get an understanding of what “analytics” meant to you and how you apply “analytics” in your audits. To our surprise, we found that most of you did not apply in-depth analytics to any client data you could access. Based on the feedback that we received from you, we also gathered the top 5 concerns about Analytics:
- Acquiring data
- Fraud analytics
- Transaction analytics
- Staff skills
So, armed with this knowledge we have worked closely with CaseWare International to re-align the vision of CaseWare Cloud Analytics with our local customer requirements and ensure that we are on the right track to deliver the right tools for your audit.
Whilst our CaseWare Cloud Analytics version 1.0 that is due to be released this November may not yet be able to answer all your concerns about Analytics, we are confident that it will show you the direction of CaseWare Cloud Analytics and how it can help you – immediately.
Looking forward to seeing you at our CaseWare Customer Conference this November where you can hear more about this exciting product.