Case Study: Hungerford Vinton LLC achieves 99% faster audit data preparation and rapid fraud detection with Altair Monarch

Delivering Improved Customer Service with a Streamlined Audit Process

Hungerford Vinton LLC, an external audit firm with a specialization in governmental systems, faced a major challenge: client data arrived in a mix of PDFs, flat files and outputs from many accounting packages (AS/400, QuickBooks, Sage, Oracle, etc.), forcing auditors to spend up to 15 hours per audit on unbillable data prep. To solve this, the firm turned to Altair and deployed its Monarch data preparation solution to handle disparate formats and legacy systems more efficiently.

Altair’s Monarch was used to extract, convert and manipulate client data into repeatable views and audit-ready formats, standardizing the firm’s processes. As a result, Hungerford Vinton LLC cut audit data-prep time from about 15 hours to as little as 2 minutes (about a 99% reduction), was able to identify fraud in hours (saving clients thousands of dollars), and achieved more comprehensive, faster audits that improved client service and retention.

Hungerford Vinton LLC

Tim Hungerford

President