How Element Solutions leverages Datricks to ensure Financial Integrity

How Element Solutions leverages Datricks to ensure Financial Integrity
Haim
By Haim Halpern

How Element Solutions modernized, optimized,
and standardized audit and financial processes

Real-time detection
of anomalous transactions and financial process discrepancies

No more false positives
with AI-powered autonomous task execution, alerts, and insights

Results in < 1 week
with zero effort configuration and no inputs required

About Element Solutions

Element Solutions (NYSE: ESI) is a global leader in diversified specialty chemicals, providing innovative solutions that enhance the products of everyday life.

Company highlights

$2.23B
revenues (2023)
63
sites
18
countries
5,500
employees

The need

Element Solutions recognized that they needed to modernize their traditional audit and compliance approach, which was marked by periodic, error-prone manual reviews and limited data sampling.

The team also realized that developing an in-house solution to address the need would lead to critical gaps in risk detection and compliance – due to the specific expertise required, long development times, and lack of scale.

It was essential to be able to deploy a solution with maximum speed and minimal resources for immediate, comprehensive, and scalable exposure management.

“Datricks has enabled our internal audit team to meet our strategic objectives of detecting anomalies in real time and gaining insights into exposures to improve efficiency, ensure audit quality, and drive standardization across our global sites.”

Colm McKenna
VP of Internal Audit & Compliance

The solution

Following an extensive evaluation of vendor options, Element Solutions selected Datricks, both for the real-time capabilities of the AI-powered Financial Integrity platform and for the team’s responsiveness and hands-on approach.

In less than one week, the platform had fully mapped and analyzed data from multiple ERP instances across several global locations. It provided clear and data-driven insights about the organization’s transaction flows, exceptions, and financial exposures, enabling the team to eliminate inefficiencies and errors and to ensure a new global standard for Financial Integrity across the organization.

Why Datricks

  • AI-powered autonomous
    process discovery and exposure detection
  • Full data coverage
    connecting and analyzing data from multiple disparate sources
  • Zero effort implementation
    with no configuration or input needed
  • Global standardization and optimization
    of financial and audit processes

Aside from the platform’s AI-powered and automation capabilities, the thing that sold us on Datricks was the entrepreneurial and agile spirit of the team. Datricks has delivered on its promises and our expectations.

Get a demo