How ICL Group leverages Datricks to ensure Financial Integrity

How chemicals giant, ICL Group surfaces hidden anomalies in real time and ensures Financial Integrity with Datricks

About ICL

Founded in 1968, ICL (NYSE: ICL) is a multi-national manufacturing concern that develops, produces and markets fertilizers, metals, and other special-purpose chemical products, serving primarily the agriculture, food, and engineered materials markets.

The need

ICL’s complex history of mergers and acquisitions resulted in an environment comprised of multiple disparate financial systems, each with its own distinct setup, configuration, and controls.  This fragmented landscape made it impossible to perform full-scope, accurate, and reliable audits.

Further complicating the task was the traditional data sampling methods ICL had in place, which left the company vulnerable to the damage of undetected financial exposures.

ICL needed a solution that could seamlessly unify insights across systems, automatically surface hidden exposures in real time, provide clarity into the organization’s overall financial health, and ensure continuous audit readiness.

The solution

ICL implemented the Datricks Financial Integrity platform to automatically map financial processes across its disparate systems, detect hidden exposures in real time, and ensure audit reliability.

With full data coverage now possible, ICL eliminated the blind spots of data sampling.

And by automatically and continuously analyzing financial processes as they unfold, the team can prevent the fallout of unchecked exposures and ensure that audits and reports are always accurate. Moreover, even in its highly complex landscape, ICL has bolstered financial controls, ensuring alignment across the organization and driving faster, more effective mitigations.

Why Datricks