Blockchain Technology In Process Audit Services
The emergence of blockchain technology is trending in the process audit services market. A blockchain refers to a distributed ledger which has the relevant details for every transaction that has ever been processed. This technology is used to verify the reported transactions which helps to bring cost efficiencies in the process audit environment. It also saves time.
THE BUSINESS RESEARCH COMPANY VALUED THE PROCESS AUDIT SERVICES MARKET AT $22 BILLION IN 2017
North America was the largest geographic region in the market, accounting for a little more than one-third of the global market share.
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According to The Business Research Company’s Consultants, Nitin Gianchandani, use of software like Robotic process automation and cognitive intelligence is trending process audit. It supports them in identifying, assessing and monitoring the risk that come along. Process audit should consider using RPA to automate repetitive task.
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PwC was largest player in the market in 2017. PwC aims at three types of growth strategy: Core, Expansion and Disruption. In Core, the company look for mergers, acquisitions and alliances. In Expansion, the company expands to adjacencies. in Disruption, the company looks for ways to disrupt the markets that leverages their capabilities.
The process audit services market includes audits which involve the assessment of the efficiency, effectiveness and economy of an organization’s use of resources.
Process Audit Services Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.
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