Recognizing Telefónica’s challenge, KPMG in Spain proposed that the organization conduct a small pilot project to implement a continuous monitoring program. The system would create a series of alerts that, in turn, would help the organization’s specialized Intervention Department work more efficiently and gain greater certainty over the monitoring of compliance across the global organization.
The highly-successful pilot quickly led Telefónica to roll out the program across their organization. Today, the system is running successfully across the Latin American markets and within the Telefónica Spain and Telefónica Latin America entities.
“To support Telefónica, our highly-experienced team in Spain delivered a customized solution to meet our client’s unique needs and operating environment, along with support from technical professionals within our global network,” noted Angel Requena, a partner with KPMG in Spain.
For Telefónica, it was the firm’s deep insight into internal audit, forensics and governance, as well as their proactive solutions that made KPMG the right choice for the project. “I feel that KPMG´s most important added value is their knowledge of the latest market developments and their ability to transfer these to processes which already exist in the company,” added Jorge Sanz Carmona, Internal Audit Manager with Telefónica Spain.