SeerBit Technologies partners IIAN to enhance audit work in Nigeria

SeerBit, one of the leading financial technology companies that provides secure payment gateways for both online and offline businesses, has collaborated with the Institute of Internal Auditors Nigeria (IIAN) to provide practitioners with technology solutions to everyday problems that internal auditors face in carrying out their duties.

The event, which held in Lagos, was put together as part of yearly global awareness campaign for internal auditors and it involved the company showcasing all their latest Apps, POS and In-Store Payment Systems it has developed for easy payment, to keep internal auditors abreast of new technologically innovative solutions.

In his presentation, themed ‘Driving audit efficiency through streamlined payment system’, the company’s Head of Commercial Services, Oyewale Oyelade, explained that the programme became necessary to help auditors overcome gaps they see in their work which might not be solved after using all control measures within the audit framework.

Read also: Great leaders make their vision people-centred, and the result shows

“Every time our auditors perform their duties, whether quarterly or end of the year auditing, there are some gaps they see, within their space. Ordinarily, they have frameworks such as, control and compliance frameworks they use to manage those problems.

“But at times, they see a particular problem and after applying all control measures, within the audit framework, they can still not solve the problem until they bring in technology solution.

“So, this event was meant to be an eye opener and we demonstrated today, how our new technology innovation can bridge those gaps, including all the gaps that we see from the standpoint control, standpoint visibility and APls standpoint.”

According to him, at SeerBit, they don’t just make payments, they carry out their business based fully on technology which has given an edge to businesses that patronise them.

“We have seen the complexities of different systems, that causes fragmentation in the system which affects audit firms. What we have done as a technology company, is to bring all those factors together to create flexibility for auditors so that after all the transactions have been done whether quarterly or yearly, auditors will be able to shorten their audit cycle, bridge the gap in their auditing work as well as ensure that businesses take faster decisions because they’re sure that their investment is secured,” he added.

Oyelade while emphasising that business is based on trust, listed the advantages of their Apps as real- time payment confirmation, automated reconciliation and reporting, faster collection and settlements.

Others are, improved financial visibility, reduced manual processing and unified payment experience across channels amongst others.

Senior Product Manager of the company, Babajide Shoyebo explained the innovations they have introduced in POS and In-Store Payments which Provides hardware and software solutions to facilitate seamless transactions at physical store locations.

He explained that their payment gateway, allows businesses to accept multiple payment methods including cards and bank transfers directly on their websites or apps.

In her remarks, Moyosore Adeniyi, a board member of The Institute of Internal Auditors Nigeria who was also part of the organising committee of the event stated that the month of May every year has been designated globally as an awareness month for internal auditors to enable them showcase what the profession does to the general public and stakeholders and the value they add to businesses which made the workshop inevitable.

“Right now, we’re more proactive and there’s a lot that is expected from auditors. So, it’s a month designated for us to showcase what we are and the values that we’re adding to businesses towards effective risk management and governance which ensures successes of organisations and business continuity.

Chief Executive Officer of the Institute, Don Umeha, expressed happiness that the collaboration with SeerBit Technologies on ways to enhance payment systems in the country was a success, noting that the company has brought out some innovations that would enhance payment systems which will give rise to automatic account reconciliation.

“Reconciliation of account has been a problem in this country especially where there are several thousands of transactions that happen in a business organisation. So, real time reconciliation is what’s happening and they have an app that can be used to ensure that such objectives are met, that will give room to transparent transactions at any point in time and also bring trust in business.”