Kronos Inc. discusses ease of getting started with IDEA
Kronos Incorporated is the global leader in workforce management. Our solutions help tens and thousands of customers across the globe to control labor costs, reduce compliance, risk of non-compliance and improve work force productivity.
We needed a tool that was easy to use and discovered IDEA. IDEA was very easy to install and didn’t require any programming experience to start using it.
We use IDEA on a daily basis and it has improved both our effectiveness and efficiency. I can honestly say that IDEA has made us better auditors. We’ve switched from sample-based audit approach to heavy data analysis approach. IDEA is especially effective in narrowing and slicing big sets of data. The speed which IDEA processes hundreds and thousands of records is phenomenal.
With IDEA we save everybody’s time including those we audit, identify pain points quickly, provide meaningful recommendations, provide 100% assurance.
IDEA has helped us increase our reputation throughout the company. We use IDEA in most of our audits. We’ve used IDEA for fraud investigations in the area of T&E, P-card, and payroll. With over 4,000 employees across the globe, we have different systems and we are able to bring in the data from these different systems and join relevant data fields to get insights into various offices and identify points of interest.
We can easily identify employees who don’t follow company policies or maybe submitting fraudulent expenses. More importantly, with IDEA we are able to identify infractions and quantify amounts which makes importing our observations and recommendations to management more meaningful.
We are a small internal audit shop and IDEA has helped us conduct our work faster, add value to the company, and deliver better results. With IDEA we are able to provide 100% assurance and focus only on the problem areas and leave the rest.
I do believe that IDEA is very powerful and versatile to the speed which IDEA processes hundreds and thousands of lines is phenomenal. We use IDEA in most of our audits. It doesn’t matter if they’re operational such as T&E, P-card, journal entries or financial statements such as fixed assets or revenue.
I honestly can’t imagine doing audit without IDEA. And I also want to say that the IDEA team actually helped us grow the use of IDEA. They are always a phone call away if anybody has any questions. They are more than willing to help me.