Diligent One Platform offers a unified solution for Governance, Risk, and Compliance (GRC) management, providing a comprehensive overview of risks and insights in one place.
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MindBridge Platform
Score 9.2 out of 10
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MindBridge Ai Auditor is an AI powered auditing & financial risk assessment platform, from the company of the same name in Ottawa.
Product is a great tool to serve as a central point to compile and document sox controls. This allows transparency across the team and teammates to edit and view progress. The tool also provides an interface that will make it easy for the internal audit team to track and compile control requests. I particularly like how it lets all of the control owners take ownership of their controls. I am currently exploring some of the advanced tools that support testing and the accuracy and completeness of our data, which i'm very excited to explore.
MindBridge [Platform] is an excellent tool to use to gain additional comfort over client's data. The key areas it helps with are analytical procedure risk and inherent risk, but depending on the data you have, it can also be able to assess control risk to a degree. It's a very malleable tool that can be made to fit your client, however, it does require upfront work (as the implementation of any new technology would). The tool may not be scalable for audit work that is very low-risk and requires little hour input in the first place as it may add more hours in the long-run than the normal audit would incur. Our team has used these low-risk audits in our implementation, however, to corroborate the results we get, which we felt has helped us achieve our successes with the tool.
Using the output from MB AI we have been able to reduce the inherent risk and analytical procedures risk assessments in our audits which have reduced our substantive testing sample sizes.
The output from MB AI allows us to focus on the medium risk and high risk transactions that were recorded in the general ledger during the year.
Our younger, more technologically advanced team members really enjoy working with MB AI.
The only reason I do not give this a 10 is that I would like a deliverable risk report. This would enable me to offer additional services to my non-audit clients.
HighBond by Galvanize support has some of the best and fastest support that I have experienced. Though we only contact them through emails, they were quick to provide insightful information about our problems. Whenever we email them about an issue, they would be able to reply in less than an hour, ready and prepared with useful solutions to address the issue.
My experience with customer support may different since I started using the application early on. I am also providing continuous recommendations for improvement or additional features. They have always been available when I needed them and they actually listen and value my opinion. They have implemented many of our recommendations and asked for our input on possible new features.
I was not involved in the implementation, but i do think the interface works well and is a great tool to centralize our compliance program. I'm currently in the process of exploring many of the advanced features and using the Diligent Academy to learn about some of these exciting features to add value to our organization. I recently attended a CPE and was very impressed with the presenters and their energy and knowledge of the product
Diligent Highbond stacks up somewhat poorly against our other tools. In addition to what was included above, we use some smaller tools that fulfill many of the gaps left by Diligent Highbond. We have since started to move away from Diligent Highbond. Alteryx is better at processing data and their server tool can be used to publish results for review.
