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OFI Group An Example Of Deployment In Finance
OFI is an asset management group that includes 9 domains of expertise: equity, fixed income, private banking, real estate, etc. On March 31, 2007 total assets reached 17 billion euros.
OFI group selected Ennov5 Doc, to manage Organization & Methods documents and distribute them to its subsidiaries. Documents follow a standard signature cycle to make sure only the validated version is accessible.
Besides, the group rolled-out Ennov5 Process to manage internal audits and related corrective/preventive actions.
The workflow implemented in Ennov5 Process includes:
- Scheduling of audits (including periodic audits)
- Contacts with audited departments
- On-going audits
- Generation of audit reports
- Links to corrective/preventive actions
- Verification of their efficiency
- Closure of the actions once completed.
Automatic generation of audit reports is very important for OFI group. This feature enables to fill-out automatically critical information entered in the course of the audit process into a standard Word template, including: date and domains of the audit, names of auditors, and experts as well as audited departments contacts, remarks, recommendations, deviations, etc. The time to produce the audit report is then reduced, and there is no risk of information loss.
Both Ennov5 applications (for document management and audit management) were launched in production in a period of 6 months, with an initial assistance provided by Ennov consultants. After several years of successful functioning, the benefits for OFI group are quite obvious:
- Up to date documentation is accessible to the whole group in a centralized Web-based system
- Standardized audit methods and formalized communication with audited departments to process deviations
- Traceability of post-audit actions
- Efficient monitoring of internal audits
- Visibility on the scheduling of coming audits.