A Forrester Total Economic ImpactTM (TEI) study commissioned by ACL uncovered the potential ROI for an ACL customer performing Sarbanes-Oxley (SOX) audits and reviews.
When evaluating the impact and value a new piece of technology will have on your business, one of the easiest questions to ask, yet difficult to answer succinctly, is “what’s the return on investment?” This is why we commissioned Forrester Consulting to take a deep-dive into the real impact the ACL platform has on a US product manufacturer and distributor meeting its SOX compliance requirements.
Forrester interviewed an ACL platform customer, a US product manufacturer and distributor, to assess the benefits and costs of the solution. Through implementing ACL, the manufacturer was able to realize cost savings, more efficient SOX and operational reviews, and increased collaboration. Specific findings from the report include:
- A reduction of 80 hours in average SOX review time.
Before implementing ACL, the average annual SOX review time was 500 hours, now the audit team spends 420 hours to complete the same number of reviews.
- Avoided consulting costs of $180,000 per year.
Prior to ACL, the team would hire third-party resources to expand the capacity of the internal audit team during busy times. With ACL deployed, the manufacturer is able to reduce or eliminate the resources that are necessary to fill resourcing shortfalls.
- New income of $185,625 or more per year can be attributed to improved decision making with higher-quality operational review results.
With more efficient SOX audits and reviews, the manufacturer is able to dedicate more time to operational process audits and reviews. The team can serve as process and business experts, providing unbiased recommendations to help make teams more efficient, avoid riskier situations, and improve quality that can increase revenue and reduce costs across the company.
This study aims to provide readers with a framework to evaluate the potential financial impact of the ACL platform by improving processes in many departments—including, audit, finance, and IT; to reduce time spent by employees in supporting review SOX compliance and reporting requests, and improve business visibility for strategic decision making.
The Total Economic Impact™ of the ACL Platform
Read the full Forrester study and see all of the detailed SOX review, ROI, and cost reductions a US-based product manufacturer and distributor experienced through the ACL platform.