Customer story
BHN
Learn how BHN leveraged DataSnipper to achieve 50-70% time savings and utilize resources to focus on critical analysis
BDO is an international network of public accounting, tax, consulting and business advisory firms which perform professional services under the name of BDO. BDO has member firms in 167 countries, employs around 91,000 partners and staff in over 1,658 offices throughout the world, and is the fifth largest accounting network globally. The core values of BDO are Personal, Passionate, Professional and Pragmatic. With these values they guide their ambition to provide their clients with best possible service and the highest quality. This success story is created in collaboration with BDO in the Netherlands (BDO NL). BDO NL is one of the largest audit firms in the country.
BDO NL delivers high-quality services to more than 2.000 customers per year. To increase audit quality and manage risk, standardized processes are key. Within this strategy, BDO NL has implemented an internal Delivery Centre. This specialized team is equipped with the knowledge, resources, and tools to execute repetitive audit tasks at scale. In this team, automation tools are key.
BDO NL embraced the DataSnipper Platform back in 2019 to improve overall audit quality and efficiency. However, within their financial statement procedures, still, too much time was spent on manual work, like re-calculating financial statements and checking consistency and version differences by scrolling back and forward through client documents. How does BDO NL drive audit agility and innovation, while increasing audit efficiency and quality?
The Financial Statement Suite provides major efficiency improvements and is offering features that truly support our teams in analyzing financial statements at scale. It drives the standardization of our procedures to increase the overall quality of service.
One of BDO's key pillars to drive innovation is simple. Automating and scaling repetitive tasks with machine intelligence, while auditors stay in control. Releasing the pressure creates more valuable time for auditors to focus on what they love most – analyzing exceptions and advising clients. To build towards this long-term vision, BDO NL introduced DataSnipper's Financial Statement Suite (FSS) to their innovative automation toolset, on top of the DataSnipper Platform.
FSS enables BDO NL to scale its financial statement procedures. The Financial Statement Suite is designed to perform and review financial statements. The suite automatically analyzes the financial statement and helps BDO to both perform and document all financial statement procedures, like verifying mathematical accuracy, internal consistency, and prior year consistency. Ready to include in their audit file.
Repetitive audit tasks in the Financial statement procedure are performed 3x faster withintelligent automation, resulting in faster time-to-market.
Efficiency gains throughautomation allow for even morefocus time on audit risk areas,which leads to an overall higheraudit quality.
Auditors can focus on thework they love, improvingoverall work culture andemployee retention.
