Wolters Kluwer Named Category Leader by Chartis Research

Wolters Kluwer Tax & Accounting has been named as a Category Leader by Chartis Research in its “GRC Solutions, 2021: Market Update and Vendor Landscape” report. The report recognizes Wolters Kluwer for its industry-leading TeamMate internal audit solutions.

“We are very proud that Chartis continues to recognize Wolters Kluwer as a Category Leader for internal audit solutions based on the market potential and completeness of the TeamMate offering,” said Jim Dunham, Executive Vice President & General Manager, Wolters Kluwer TeamMate. “The TeamMate audit and assurance expert solutions are designed, created, and field-tested by auditors for auditors. By closely aligning with their needs, the TeamMate solutions enable auditors to connect all points of the audit universe so they can provide valuable insights and high-impact reporting for internal performance and external assurance.”

With more than 120,000 auditors using the cloud-based and on-premise versions globally, TeamMate is one of the world’s most widely-used internal audit management systems. Together with controls management and analytics, these integrated global expert solutions provide auditors with the confidence and insights needed to manage all aspects of data-driven audits, including continuous risk assessment, workpapers management, issues management, analytics, and reporting.

“Compared to the other sub-segments of GRC, internal audit is relatively mature and stable: indeed, for some time it has defined the other areas of GRC, in the sense that methods for capturing data for internal audit were key functions of other areas,” according to the Chartis report. “More recently, however, several developments have occurred in internal audit – including the control function, which is increasingly required to take a more active role in business strategy and optimization. As a result, institutions are now required to take a more active view of processes. Chartis expects internal audit tasks to become more automated, alongside an increase in NLP-type searches and more automated document management.”

“In today’s dynamic business environment, internal audit continues to automate and adapt methodologies to be more responsive to changes in high-impact risks. Adopting agile audit techniques offers quicker identification of risks and deeper collaboration with stakeholders to address the risks. TeamMate combines agile audit capabilities with integrated analytics to enable audit leaders to improve business performance,” added Dunham.