Improving a Manual GRC Process Case Study
Published by maincompcen on October 19, 2017
Healthcare Products and Solutions Manufacturer and Distributor
Number of Locations: 1,200 Carepoints
Number of Countries: 90
Number of Employees: 15,000
Medline is the largest privately held manufacturer and distributor of medical supplies uniquely positioned to provide products, education and support across the continuum of care. Their ability to bring best practices from one care setting to another — from large healthcare systems and independent physician practices to home health patients and their families, is what sets them apart.
Medline’s Internal Audit Department managed controls and findings with a utilitarian, but limited, system of spreadsheets. At times, they felt as if they were more focused on filling out spreadsheets than auditing controls. As a result, auditing controls became a problem because dynamic companies like Medline need to make it easier for management and auditors to understand critical controls over the business operations, so they can continue to deliver to their customer. Medline needed a system to provide more visibility across its internal controls auditing processes.
Organize Internal Audit Functionality
Compliance Central has helped Medline’s Internal Audit function through a period of change as the company continues to expand locations through acquisition. The Internal Audit Department has been able to meet the challenge of new locations, with new controls, processes and procedures by depending on Compliance Central.
Medline can also report audit findings to management with one click. Rather than digging through 50 spreadsheets, the data is available in Compliance Central reports and these reports can be customized by the user to obtain the exact elements of data that required for a specific audience.
Establish One Version of the Truth
There is something to be said for having everyone on the same page. Medline has achieved one source of truth for the internal controls and Standard Operating Procedures at each location making audit planning and execution more efficient by orders of magnitude.
Enable Expansion Monitoring
Finally, as Medline continues its acquisition strategy each reporting location is being added to Compliance Central, where its controls and SOPs can be monitored. Medline is all about supporting those who care for us and Compliance Central is happy to support Medline.
Connecting Through Communication
Reduction of Spreadsheets
Decrease of Audit Planning Time
Increased Efficiency in Reporting Audit Findings
I highly recommend Compliance Central, if you’re looking for an intuitive, well-designed platform to manage and document your system of internal control. The platform’s ease of use and top-notch reporting provides value to the entire continuum of Internal Audit, from junior associate to Chief Audit Executive. The tool can be scaled for a small company or larger enterprise as it supports our audit process for a $9B business. Our entire team has benefited from this tool and we look forward to utilizing it for years to come.
VP Finance, Medline
I would highly recommend using Compliance Central for internal audit control management. The organization functions provide effective and easy-to-use ways to manage tracked actions. The Compliance Central staff is very intuitive and always open to new ways to improve the site. Great site.
Internal Audit, Medlin