Background
Oracle audited a midwestern US manufacturing company with Oracle DB and WebLogic. The organization had initially tried to undergo an Oracle audit on its own, but it faced an Oracle audit report worth $27 million. They enlisted Redress Compliance’s expertise to help them navigate the audit process and mitigate the financial impact.
Challenge
The manufacturing company was facing a potential non-compliance risk of $27 million. They needed a comprehensive strategy to mitigate this risk and navigate the Oracle audit process.
Solution
Redress Compliance was enlisted to provide a strategic solution:
- Audit Report Review: Redress reviewed the audit report and findings to clearly understand the situation.
- Error Identification: Redress identified errors and incorrect assumptions on behalf of Oracle in the audit report.
- Negotiation Strategy: Redress provided a negotiation strategy to enable the organization to pay as little as possible to Oracle.
Outcome
The audit was settled nine months after the issue of the report at $50k, a significant reduction from the initial $27 million. This outcome illustrates the value of expert guidance in navigating Oracle audits.
Quote from the CIO
“The strategic insights and deep expertise of Redress Compliance have been invaluable in our Oracle audit process. Their comprehensive approach and unwavering support were key in navigating the complexities of the audit. They identified errors and wrong assumptions on behalf of Oracle and provided a negotiation strategy that resulted in a significant cost reduction. Their contribution has been pivotal in our IT strategy and has saved us millions.”
Conclusion
This case study illustrates Redress Compliance’s ability to provide comprehensive Oracle audit solutions. By understanding each client’s unique needs and challenges, Redress Compliance can deliver strategies that ensure compliance and result in significant cost savings.
