- Financial services provider receives proof of a properly running ICS
- Audit of development, quality assurance and product management processes
- Software development processes meet strict audit criteria in a highly regulated industry
Context of the audit according to IDW PS 951
Financial services involve the processing of particularly sensitive financial data that is therefore worthy of protection for tens of thousands of citizens. For this reason, the German Federal Financial Supervisory Authority (BaFin) sets strict requirements that must be met in the case of essential outsourcing. Part of these requirements is an effective and appropriate internal control system for essential business processes, which must be proven by an independent auditing organization as part of an audit. The auditing standard applicable here is IDW PS 951 “Audit of the internal control system at the service company for functions outsourced to the service company”. The BaFin regulatory “Minimum Requirements for Risk Management” (MaRisk) demands that essential outsourced services be strictly monitored with the aid of an ICS and that risk assessments be carried out in the process. These requirements are audited and verified using IDW PS 951.
Tested process quality of the developed software
As part of a customized application, OMNINET developed a central outsourcing management system that hundreds of financial institutions throughout Germany use to outsource services within the overarching banking association in a uniform, secure, and legally compliant manner. Contract management and the evaluation of contractual partners and their services were key aspects of the software solution.
The IDW PS 951 audit of the ICS developed by OMNINET focused primarily on product management, software architecture, and application development processes, defect management, as well as test and release management processes. In addition, workflows, organizational demands, quality assurance and planning specifications and their implementation were assessed, which have a direct or indirect influence on the developed software, on the information security level and on integrity. The result of this comprehensive audit was recorded in a detailed report.
Relevance for OMNINET as a digitalization partner in strictly regulated sectors
“The externally audited effectiveness and adequacy of the developed ICS confirms that OMNINET reliably provides individual software solutions in highly regulated industries. OMNINET has thus proven its status as a digitalization partner for sophisticated and highly complex software developments. In particular, OMNINET has also shown that the development and maintenance of an internal control system can demonstrably withstand the high demands of the financial industry,” says Markus Lenzer, CEO of OMNINET.
Fields of activity:
OMNINET develops and markets the OMNITRACKER E-Tracking System and handles customized software projects in the telecommunications and automotive industries. In addition, OMNINET offers a comprehensive line-up of industry-independent solutions and services. Its flexible licensing models, scalability and open interfaces make OMNITRACKER ideal for use in small, mid-size and large companies; so it can be used for a wide range of service organisations and application areas.
Solutions portfolio:
OMNINET’s portfolio of solutions includes IT Service Management solutions for ITIL-based call centers and help desks, and solutions for requirements management and systems engineering, project management, customer relationship management, contract management as well as e-government.
OMNITRACKER can be extended according to customer wishes by adding supplemental modules such as a web application (Web Client) or a Mobile Client.
Today, all companies face the challenge of increasing their own performance with shrinking resources. Many approaches have been developed to resolve this conflict in goals. A crucial factor in the service-ability of modern information technologies is how effectively one’s own service organisation is structured. This is where the IT Service Management solution from OMNINET might be used, for example.
When individually configured for a specific customer, OMNITRACKER makes a contribution toward achieving tool-supported implementation and optimization of system and business processes. For customers, this produces wide-ranging automation of their work processes. OMNITRACKER make it possible to attain comprehensive integration into an existing infrastructure. Service success can be measured too – tool-supported planning, accounting and controlling are equipped with extensive and flexible statistical and reporting functionalities.
Services:
The qualified technical consultants and project managers at OMNINET support customers in all phases of the planning and restructuring process. OMNINET’s service line-up includes analysis and design of system und business processes, project management and project controlling as well as training programs.
Customers:
With several hundred customer installations and over 20,000 concurrent users, OMNITRACKER’s flexibility and high integration potential have made it one of the leading systems in the IT Service Management field across Europe. Its circle of customers includes highly respected companies such as Damovo, DATEV, Kabel Baden-Württemberg, Kraft, Novartis (CH), SIEMENS, Systemat (BE), tesa, T-Systems and Union Investment.
For additional information on OMNINET go to: www.omninet.biz
OMNINET Software-, System- und Projektmanagementtechnik GmbH
Dr.-Otto-Leich-Str. 3
90542 Eckental
Telefon: +49(0)9126-259790
Telefax: +49(0)9126-2597940
http://www.omninet.de
Head of Marketing
Telefon: +49 (9126) 25 979-0
Fax: +49 (9126) 25 979-40
E-Mail: michael.held@omninet.de
