AUDITIME PTE LTD

regtechdata managementgovernancerisk management

FOUNDING YEAR: 2014
LOCATION: Singapore
Last Update: 18/10/2019

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About

AUDITime is a global Governance, risk and compliance services company composed of experts specializing in risk management and assurance in the areas of banking, financial services, insurance, risk and compliance, technology effectiveness, investigations and quality assurance.

MEDICI Analysis

AUDITime is focused on governance, risk, compliance solutions and services. The company comprises of experts in risk & audit management, data analytics, and data confidence.

Focus

PRODUCTS & SERVICES

Products include: VUEFRAME is a control dashboard to guide business decisions. Pentana is audit management software for risk assessment, audits, and compliances. Arbutus is an auditing software gives users the power to extract, analyze, and report insights from diverse data sets. Infosphere Guardium provides solutions for privacy and integrity of information at the data center. Services include risk & audit – continuous control monitoring, continuous monitoring, data migration verification, and audit management system; information security services include IT policies & procedure review, vulnerability assessment & penetration testing (VAPT), IT system audit & compliance, IT security review, ISO 27001-gap analysis & implementation, and BCP review, and mock drill.

REVENUE MODEL

Licensing of software, Implementation, Training , Support

MAIN CLIENTS

ICICI Bank

AXIS Bank

HDFC Bank

Bank of India

Mahindra

Siemens

TATA

Airtel

SBI and others.

EXISTING PARTNERSHIPS

Pentana

ARBUTUS and IBM.

PRIMARY PROBLEM SOLVED

1) Enabling data and risk driven audit & compliance planning 2) Continuous transaction monitoring of Business Controls, Analysis - Trend and unifying focus on smaller unit level to organisation level 3) Safe data sharing amongst stakeholders & external agencies 4) Drastically reducing cost of monitoring and compliance with better effectiveness Industries: Regulators, Banks, Insurance, Manufacturing, Telecoms. Over 15+ large size successful implementations in Asia

INTELLECTUAL PROPERTY

Patent(s) NOT_FILED

company provided insights

Traction

REVENUE

$0 - $99k

REVENUE COMMENT:

Our existing Framework and Power applied data analytics tool designed to perform for Risk Compliance and Audit function is now being transformed for business management users (top management & first line of defence)

ACTIVE USERS:

300

ACTIVE USERS COMMENT:

There has been a focus recently to gain insights from enterprise data by the various industry. We as a group company have been very much into the practice of gaining insights from good data. Our award-winning product VUEFRAME is delivering insights to customers as early detectors and guidance driving value with diverse use such as Fraud analytics, operational efficiency analytics etc. from discovering Good data -> Generate Continuous Risk intelligence for Top Management, Risk teams, and auditors.

People

FOUNDERS

PARESH DESAI

Madhav Bhadra and Chetan Maheshwari.

BOARD MEMBERS AND ADVISORS

Ajay Kumar

Srikant Shitole

R K Nair

KEY EMPLOYEES:

DEVAL KAPADIA

company provided insights

Momentum

FUNDED

NO

LISTED

NO

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AUDITIME PTE LTD

About

AUDITime is a global Governance, risk and compliance services company composed of experts specializing in risk management and assurance in the areas of banking, financial services, insurance, risk and compliance, technology effectiveness, investigations and quality assurance.

Focus

PRODUCTS & SERVICES

Data Quality Services Specialization in Risk Intelligence through Data Analytics Risk-Based Audit Tools implementations and Solutions

REVENUE MODEL

Licensing of software, Implementation, Training , Support

TOP PROBLEM SOLVED

1) Enabling data and risk driven audit & compliance planning 2) Continuous transaction monitoring of Business Controls, Analysis - Trend and unifying focus on smaller unit level to organisation level 3) Safe data sharing amongst stakeholders & external agencies 4) Drastically reducing cost of monitoring and compliance with better effectiveness Industries: Regulators, Banks, Insurance, Manufacturing, Telecoms. Over 15+ large size successful implementations in Asia

PRODUCT DEVELOPMENT STAGE

V2.0 or BEYOND

PRODUCT DEVELOPMENT COMMENT

Niche product with predictive nature of analysis with cross functional experience, in-depth domain expertise, as product designers are all from audit and risk function background, hence product developed by risk based auditors for risk based auditors / data driven auditors

KEY DIFFERENTIATORS

Team compositions and focused nature of staying relevant in the business niche . Highly qualified team 50+(mix of data artist+ audit background+technology) Board and top management comes from heavy audit and risk background (CA,CISA,CRISC) Product success = implementation success=value seen by customers= happy customers=more research on building product value=excited customers = regular practice=iterative data driven risk solution success

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Small and Medium Business - Physical Retail

Small and Medium Business - Online Retail

PRODUCT ATTRIBUTES

SaaS

On-premises

Back Office

STRATEGIC CLIENTS AND PARTNERSHIP

OCBC Singapore : Client

UOB Singapore : Client

ADB Philippines : Client

ICICI India : Client

Great Eastern Life : Client

Yes bank : Client

HDFC Life : Client

Traction

ANNUAL REVENUE:

$0 - $99k

REVENUE COMMENT:

Our existing Framework and Power applied data analytics tool designed to perform for Risk Compliance and Audit function is now being transformed for business management users (top management & first line of defence)

ACTIVE USERS/ACCOUNTS:

300 Million

ACTIVE USERS COMMENT:

There has been a focus recently to gain insights from enterprise data by the various industry. We as a group company have been very much into the practice of gaining insights from good data. Our award-winning product VUEFRAME is delivering insights to customers as early detectors and guidance driving value with diverse use such as Fraud analytics, operational efficiency analytics etc. from discovering Good data -> Generate Continuous Risk intelligence for Top Management, Risk teams, and auditors.

LIVE USERS/TRANSACTIONS:

Yes, in live production

CHANNEL STATUS

CHANNEL SECURE

NUMBER OF CLIENTS OR PAYING CUSTOMERS

15

People

NUMBER OF EMPLOYEES

11-50

TEAM COMMENT:

Our team members are passionate about our vision resulting to high resource retention, ability to convert continued success into reality, continuous improvement,aligned to solve problems of larger business space.

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES