Why a Field-Proven vs. In-house Solution Is the Only Sure Path to Continuous Audit & Compliance

The Growing Need for Continuous Audit and Compliance

In the era of Big Finance—where globalization, digital transformation, and evolving regulations drive unprecedented complexity—traditional audit and compliance approaches are struggling to keep up.

Audits remain periodic, reliant on data sampling and manual reviews, and hindered by outdated tools. This leaves organizations vulnerable to three key exposures – human error, fraud, and non-compliance, where the result is:

To ensure Financial Integrity and avoid the damage, finance and audit leaders and their teams need to ensure continuous audit and compliance.

The big challenges of Big Finance

Reducing the risk of costly exposures

Enhancing audit and reporting accuracy

Ensuring continuous audit and compliance

But when it comes to implementing such a solution, the question that often arises is – do we build or buy?

The Build vs. Buy Debate

With technology shaping the finance team’s ability to ensure business agility, optimize operations, and accelerate decision-making, the long-time “build vs. buy” debate is as pressing as ever.

The answer may not always be obvious, as each approach has its own pros and cons.

The In-house Solution

The pros: Building an in-house solution promises control through customization, with the belief that this approach better ensures alignment with the organization’s unique business processes, audit policies, and compliance requirements.

The cons: The appeal of control and customization is undeniable.

However, developing an in-house solution can lead to critical gaps in risk detection and compliance.
This is because building such a solution requires not only a very specific skillset, but also the ability to continuously refine and update the system to ensure that the organization can keep up with evolving regulations and emerging threats.

Without extensive and dedicated resources, an internally built system will quickly become outdated—leaving the organization dangerously exposed to undetected risks.

Moreover, the long implementation timelines of an in-house build delays essential exposure detection capabilities, further increasing vulnerability.

The in-house solution

Pros	Cons
Control via customization	High cost & labor intensive
Alignment with processes	Long timelines

Buying a Field-Proven Solution

When it comes to audit and compliance, no organization can afford the lag time, compliance gaps, and unchecked exposures that surface during the build phase.

Nor can it afford to be left behind as development struggles to keep up with quickly and continually evolving requirements and demands.

Especially in finance and audit, the benefits of deploying a field-proven solution outweigh the benefits of the in-house option.

The field-proven solution

Access to built-in expertise	Accelerated deployment
Meeting evolving regulations	Cost efficiency

However, this too is not enough in today’s complex and highly demanding age of Big Finance. Continuous process monitoring with reactive, post-mortem exposure handling just won’t do anymore.

It is incumbent upon finance and audit teams to ensure Financial Integrity by staying ahead of exposures and taking a preventive approach to non-compliance, errors, and fraud, and to do so continuously, all the time, in real time.

The finance & audit imperative

Stay ahead of exposures with a preventive approach

Mitigate risk in real time

Ensure Financial Integrity continuously

This is where the Datricks Financial Integrity Platform comes into play.

How the Datricks Financial Integrity Platform Can Help

The Datricks Financial Integrity Platform brings the preventive, real-time approach that finance and audit teams need for continuous audit and compliance.

The platform automatically and continuously:

Analyzes the organization’s financial processes

Detects anomalies across all business data

Applies AI-driven analytics in real time

Sends alerts with actionable insights

The result is a continuous audit and compliance approach that is preventive, with real-time detection of breaches, such as segregation of duties (SoD) violations, errors, such as duplicate invoices, and fraud, both internal and external fraud, as they happen, before any damage is done.

Moreover, Datricks fuels agility and accelerated time to value with:

The Field-Proven Results of Billion Dollar Giants

The Datricks platform is a field proven solution that enables global industry leaders to achieve continuous audit and compliance that is preventive:

Multi-B$ pharma giant Leveraging Datricks for: – Delivering real-time insights to internal auditors based on data from many organizational systems – A wide breadth of predefined reports – Eliminating multiple exposures in order-to-cash and procure-to-pay processes – Proactive damage prevention with predefined thresholds

Multi-B$ construction materials company Leveraging Datricks for: – Leveraging Datricks for: – Continuous process analysis across all data – Real-time exposure detection  – Identifying billing inefficiencies and anomalies  – Eliminating costly rebilling – Generating accurate invoices on the first try

Moreover, with Datricks, Fortune 500 companies around the world are saving millions of dollars with continuous audit and compliance, uncovering non-compliance, errors, and fraud attempts in real time:

$38M saved by detecting payment terms manipulations

$5M saved by uncovering master data and inventory issues

$17M saved by stopping duplicate payments

In Conclusion

Building an in-house solution may have its appeal. But when considering how to avoid the damage of non-compliance, errors, and fraud, the optimal solution is one that is field-proven and takes the preventive approach to continuous audit and compliance.

With the Datricks Financial Integrity platform, finance and audit leaders and their teams can achieve just that and meet the imperative of staying ahead of exposures, mitigating risk in real time, and ensuring Financial Integrity always.

To learn more about how you can be preventive with continuous audit and compliance, we invite you to schedule a demo by clicking here.