Introduction
Al-Rawahy Holdings LLC comprises a variety of companies and investments in Oman, UAE, and the UK, operating across a diverse range of sectors. With over 40 years of maintaining a strong reputation, reliability, and family culture, Al-Rawahy Holdings uses Ideagen Internal Audit to provide assurance and assist the organization in achieving its objectives.
The challenge
- Time-consuming manual audit processes using Microsoft Excel
- Lack of visibility and control over audit data
- Need for a secure, standardized system to manage audits across multiple locations
Finding the right solution
Al-Rawahy Holdings selected Ideagen Internal Audit for its:
- Ability to streamline audit processes and reduce manual workloads
- Robust digital audit trail for improved data security
- Real-time visibility and control over audit activities
Implementation and impact
Before, Al-Rawahy Holdings faced challenges with manual, time-consuming audit processes and lacked the visibility needed to efficiently manage their audits. The transition to Ideagen provided a secure, centralized solution that streamlined operations, reduced costs, and improved team collaboration.
This transformation empowered Al-Rawahy Holdings to focus on strategic growth and operational excellence:
- Achieved a 30% reduction in time spent on audits, thanks to streamlined processes and faster response times from business units
- Saved $30,000 annually by eliminating the need for additional audit resources
- Transitioned to a completely paperless environment, significantly enhancing the security and accessibility of audit data
- Improved team communication and collaboration through real-time updates and visibility into audit progress
- Standardized the audit process across the organization, ensuring consistency and reducing the risk of missed steps
The retrieval of audit data used to be a big challenge for our internal audit team. But now with the recommendation tracker, it works like a breeze and has saved us a lot of time.
Real results
Ideagen Internal Audit has significantly enhanced Al-Rawahy Holdings’ audit processes, ensuring better efficiency, cost savings, and data security:
Streamlined audit processes, leading to an overall 30% reduction in time spent on audits.
Eliminated the need for additional resources, resulting in cost savings of $30,000 per year.
Transitioned to a paperless document repository, enhancing security and audit trail accuracy.
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