ITGC Automation for Clean Energy Company
Phinergy
Client
ERP
User Management
Problem
Phinergy is a clean energy company focused on developing metal-air technology, which turns metals like aluminum and zinc into innovative solutions for storing, transporting, and generating clean and safe energy.
Phinergy faced significant challenges with their manual IT audits. Conducting these audits was a time-consuming process, taking up to 400-500 hours to complete. The company’s scope covered 12 IT General Controls, including Priority ERP and Azure Active Directory. With a local HRIS in place but no ITSM system, the pressure to ensure accuracy and compliance without automated processes was immense. The need for a solution that could automate these audits and reduce the burden on the team was critical.
Literally, a few clicks of a button and the reports were ready.
Solution
Phinergy implemented AudITech’s self-auditing software solution to automate their ITGC audits. The AudITech platform was chosen for its ease of use and ability to quickly integrate with existing systems. According to Liza Ohayan, CFO of Phinergy, “The one thing I don’t have enough of is time, so automating ITGC audits was instantly appealing. AudITech drastically cut down the time (and therefore the cost associated) with our IT audits. It’s one less thing for me to worry about and it took no time at all to get going with it. Literally, a few clicks of a button and the reports were ready. I used to hate audit time but now it’s always running and no manpower is wasted. It’s a win-win.”
An example of a process that AudITech made effortless for the client was onboarding new employees. Previously, the team sent an email with the new employee’s information as part of their onboarding process. AudITech created an email template for Phinergy, enabling them to fill out the new employee’s details and send the email to the team as usual. This information would then automatically integrate into the platform, ensuring a seamless workflow.
Results
The implementation of AudITech’s solution yielded impressive results for Phinergy. The automation covered 100% of their IT controls, allowing for independent detection of potential deficiencies through continuous monitoring of the entire tested population on a daily basis. The audit process that previously took 400-500 hours was drastically reduced. In the first year, there was a 75% reduction in ITGC Audit time, which included a system switch from Active Directory to Azure Active Directory. We anticipate a 90% reduction in the second year onwards.
In 2023, after the one-time implementation of the software, the audit for the same scope took only 90 minutes for two rounds of testing. It is anticipated that a few additional hours will be needed for queries and the auditor’s quality assurance. Overall, the AudITech platform reduced the hours invested in audits by approximately 80% compared to 2022.
By automating their IT audits, Phinergy not only saved time and resources but also enhanced their compliance and monitoring capabilities. The AudITech solution proved to be a valuable tool in ensuring the integrity and efficiency of their ITGC audits, allowing Phinergy to focus more on their core mission of developing clean energy technologies.
Control
Logical Access
Users Review
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Admin Users Review
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Role Assignment
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User Account Creation (On Boarding)
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Terminated User Access (Off Boarding)
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Password Settings
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Change Management
Change Request
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QA Approvals
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UAT Approvals
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Manager Approval
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Control
Logical Access
Users Review
✔
Admin Users Review
✔
User Account Creation (On Boarding)
✔
Terminated User Access (Off Boarding)
✔
Access to Key Financial Folders
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Password Settings
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