Ncssoft: Ensuring Clients A Threat-Less Business Ecosystem

CIO Vendor It has been quite imperative that digitalization is the next way forward for businesses today, irrespective of industry verticals. And, it is also evident how digitalization is changing almost every business process in each industry. Catching up with this, the Audit and Compliance industry too is going through a major transformation with the adoption of new technologies so as to improve the processes and standards. Hence, gone are the days, when one used to utilize only conventional methods to conduct internal audits, risk & compliance assessments. However, choosing the right vendor to partner with will be the defining point to reap the technological benefits when it concerns the crucial parameter of Audit, Risk and Compliance management.

Coming to the fore is NCSSoft with its decade old experience of delivering comprehensive solutions for the BFSI segment. NCSSoft is arguably the industry leader when it comes to digitalizing the complete Audit process so as to deliver techdriven audit solutions for the players in the BFSI segment.

Headquartered at Chennai, NCSSoft is the preferred Auditing solution provider for top financial institutions across India. The company has been striding towards becoming a global leader in the Auditing and Compliance space. And to top it off, they have been also offering IT services in business process automation and business support system domains.

“Since the inception of the company, we were really focused on innovating our products so as to drive digitalization in our clients’ business. We could clearly see the challenges faced with the traditional auditing processes. Hence, we have been continuously involved in R&D so as to bring forth the best-in-standard products for our clients,” highlights Mr. Shanmugavel, CEO and Founder at NCSSoft.

“There are a lot of factors involved, for instance, what would be the benefit for the organisations by automating their audit process. How much percentage will it be used? Then slowly we'll explain the process on how it will be automated. So, we'll be automating the entire process, right from audit planning and upto the audit closure,” he adds. NCSSoft has made sure of delivering clients with efficiency, productivity in their audit operations by significantly saving their precious time & efforts.

Offering Risk Based Audit & Compliance Application
NCS Soft’s eTHIC is an industry-defining solution that reshapes the way risk-based auditing & compliance management is executed in the BFSI sector and is arguably the best risk assessment software for banks. eTHIC is extremely capable of centralizing the entire audit management life cycle, thereby offering efficiency and reliability into web-based audit
management for banking and financial services companies in India by assets. With over 20+ banks across India are using it for various audit processes, eTHIC has become a popular risk management software for banks.

As globally compliance functions have evolved from an advisory role to one that puts more emphasis on active risk management and monitoring, eTHIC robustly strengthens regulatory compliance with efficient compliance and risk management tools so as to aid organizations to focus more on their business’ growth bandwagon.

“We have various industry leaders as partners with us currently. There are two areas where we have our partners primarily, i.e., business partners and technology partners. In the technology side, we have tie up with Microsoft, Oracle and Dell,” signifies Shanmugavel. “While coming to the business fore, we have business tie up with HP, we have partners with HCL for selling our products in domestic and as well as in the international level,” he adds.

NCSSoft has made sure of delivering clients with efficiency, productivity in their audit operations by significantly saving their precious time & efforts

Automation is only the first step in aligning Audit to modern day banking. Increasingly, Regulators and Boards want Audit to not only provide excellent ‘Quality Assurance’ but also contribute to improving Internal Control, Continuous Audit, Fraud prevention are some of the emerging expectations from Audit.

Best-in-standard Consulting Services
With homestead of experienced senior bankers with operations and audit experience, NCSSoft offers a full range of Audit Consulting services ranging from diagnostics, designing new audit systems, controls and end to end implementation. The company has been significantly aiding clients in improving internal control, and fraud prevention tremendously.

The company has been continuously focusing on bringing the best out of technologies in its product so as to cater to the clients nationally and internationally. They have been setting their focus towards markets across Asian countries that include Sri Lanka, Bangladesh, Philippines, Middle-East among others.

“Our vision is that we want to deliver a complete Governance, Risk and Compliance (GRC) service through a robust Platform. We have already developed the audit module under the compliance module. We are trying to build a platform which will cater to enterprise level with an unified approach to deliver the overall solution,” concludes Shanmugavel.