In the latest installment of our Spotlight on Success series, Elizabeth Folsom (Vice President and Chief Audit Executive) and William Gomez (Senior Audit Advisor) at PSI share how they use AuditBoard to craft a culture of continuous improvement. PSI is a network of locally-led, globally-connected organizations that are passionate about helping people lead healthier lives.
Hear how PSI made their processes smoother, faster, and more consistent across departments:
- Used AuditBoard Analytics to test 50,000 transactions (compared to a previous capacity to test only 1,300 transactions)
- Conducted chain analysis, customized reports, and identified patterns without extra manual work
- Used AuditBoard Analytics to test 96,000 roles (compared to a previous capacity to only test 400 roles)
Tell us a little about PSI.
Elizabeth Folsom, Vice President and Chief Audit Executive, PSI: “We’re passionate about making it easier for people to live healthier lives. So, our internal audit program is crucial to the success of this mission. Our job is to deliver results with integrity, transparency, and accountability. I like to think of our internal audit team as our superhero squad. We have ten global auditors strategically placed around the world, and their goal is to build a culture of continuous improvement.”
When assessing AuditBoard as a potential solution, what stood out to you?
William Gomez, Senior Audit Advisor, PSI: “When AuditBoard launched their analytics model, it was exactly the opportunity we were looking for. Right now, AuditBoard made our data processes smoother, faster, and more consistent for everyone. We stopped struggling with our old, manual tools and could finally focus on what the data was really telling us.”
Elizabeth Folsom, Vice President and Chief Audit Executive, PSI: “During the evaluation process, AuditBoard’s built-in templates really stood out. Our old analytics were manually intensive. By contrast, AuditBoard’s templates were easy to customize for the specific data that already exists in our systems at PSI. The drag-and-drop, no-code functionality was critical. Since we don’t have any data scientists on our team, this capability made the new analytics accessible to everyone. AuditBoard is an out-of-the-box solution designed for our needs without requiring much technical expertise.”
How has AuditBoard’s connected risk platform helped you achieve results?
William Gomez, Senior Audit Advisor, PSI: “AuditBoard made data analysis much faster for our team. The visual workflow helped us do chain analysis and identify patterns without a lot of manual work. We can also customize reports very quickly, which saves us a lot of time.”
Elizabeth Folsom, Vice President and Chief Audit Executive, PSI: “When using AuditBoard Analytics, we tested 50,000 transactions (previously, we could only test 1,300). Even more impressively, we used AuditBoard Analytics to test 96,000 roles (previously, we could only test 400.) That’s a really impressive scale of coverage. The data gives us the power to highlight priorities and help our organization become more effective. Ultimately, we’re transforming our internal audit function to provide positive changes in real-time.”
