Analytics
What is Dfact?
Boosting operational excellence
Thanks to the Dfact tool, companies like Vandemoortele, the family-owned food group, are benefiting from Audit analytics and deriving more value from the audit process.
Dfact: the analytics approach
The world of audit has evolved, with stronger regulatory demands, increasing data volumes and the shift from manual to automated processes. Clients now expect an audit not only to assess risks but also to highlight areas of potential operational and business improvement. Audit Analytics can pinpoint areas of true risk as well as potential reward. Instead of only looking at past performance, audit teams can look forward, producing insights and conclusions that help decision-makers make more effective, timely decisions. Using analytics, Deloitte’s Dfact tool assists clients in achieving business objectives, managing risk and improving business performance – anywhere in the world.
Vandemoortele: deeper analysis, more insights
Belgian consumers know us for our cooking oil and mayonnaise, but that is just a small part of our overall business,” says Jean Vandemoortele, chairman of Vandemoortele. “For some time now our focus has been on the business-to-business market where we aim to be among the leaders in Europe in both of our divisions. We’re making good progress: Belgium currently represents a little less than one quarter of our turnover and our main growth comes from other European countries.” There are some huge challenges facing the food group, which is headquartered in Ghent. Jean Vandemoortele: “We realise that economic growth in Europe is generally viewed as having stagnated. We are confident that there are still pockets of growth to be found: new segments and customers that we can serve with our products and innovations. There remains a great deal to be accomplished with 550 million consumers.”
“Using Deloitte’s Dfact tool, we are able to analyse our data in greater depth – and more quickly.”
Jean Vandemoortele, Chairman of the Board of Directors, Vandemoortele
Growth through innovation
For Vandemoortele, growth must come from innovation – and technology plays a critical role. “Our operations run via integrated processes supported by IT. This helps us to standardise things, as well as to monitor and protect our data. It also enables us to smoothly exchange information with the systems of our customers and suppliers. It’s something that we have worked hard on.” Vandemoortele recently took a step forward by appointing Deloitte as the group’s auditors. “Using Deloitte’s Dfact tool, we are able to analyse our data in greater depth – and more quickly,” says the chairman. “Previously we used sampling and now we are able to examine things in a more insightful and all-encompassing way. These new possibilities give us a sharper view of our performance. With this we are able to work with our auditor to strengthen our operational excellence.” That is precisely the role that Jean Vandemoortele expects from Deloitte: “Deloitte listens and truly understands the specific characteristics of our business. Their pragmatism, process-related approach and high level of expertise contribute to our operational excellence.” The chairman reiterates the importance of innovation to the Vandemoortele group. “At the end of the day, it is the combination of innovation and growth, coupled with our operational excellence, that delivers sustainable, profitable growth.”
“These new possibilities give us a sharper view of our performance.”
Jean Vandemoortele
Data Analytics can help an organisation to provide insights to the business by developing a deeper understanding of business risks, control effectiveness and industry trends. Our practice has several tools available to perform data analysis, such as our in-house developed tool, Dfact.
Michel Denayer, Managing Partner Audit and Enterprise Risk Services, Deloitte Belgium
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Developed in-house, Dfact (also known as Deloitte Fast Audit Control Testing) is an easy-to-use tool that achieves faster and better insights into key internal controls and risks in critical business processes, fraud-sensitive matters and process inconsistencies. It downloads mass data and allows testing of the full population in a structured and efficient way.
Dfact
Dfact
Developed in-house, Dfact (also known as Deloitte Fast Audit Control Testing) is an easy-to-use tool that achieves faster and better insights into key internal controls and risks in critical business processes, fraud-sensitive matters and process inconsistencies. It downloads mass data and allows testing of the full population in a structured and efficient way.
Dfact
Developed in-house, Dfact (also known as Deloitte Fast Audit Control Testing) is an easy-to-use tool that achieves faster and better insights into key internal controls and risks in critical business processes, fraud-sensitive matters and process inconsistencies. It downloads mass data and allows testing of the full population in a structured and efficient way.
Dfact
Developed in-house, Dfact (also known as Deloitte Fast Audit Control Testing) is an easy-to-use tool that achieves faster and better insights into key internal controls and risks in critical business processes, fraud-sensitive matters and process inconsistencies. It downloads mass data and allows testing of the full population in a structured and efficient way.