About TRACe
TRACe is a GRC (Governance, Risk, and Compliance) software from Multimedia Computer Systems that supports organizations in managing compliance and risk. It provides features including TRACe GRC, Doc Assist, and Case Studies so users can effectively track regulatory obligations, improve documentation, and use real-world examples for better decision-making. This platform also integrates with Digital Office Framework to facilitate broader organizational governance and risk management strategies. With its focus on comprehensive reporting and compliance documentation, TRACe helps organizations maintain regulatory adherence and mitigate risks. Key capabilities: TRACe GRC Doc Assist Case Studies Digital Office Framework Financial Accounting Best for: organizations that need reliable governance and compliance solutions.
Trace by Multimedia Computer Systems is a governance, risk, and compliance (GRC) software designed to provide organizations with a centralized platform for managing risk assessments, compliance workflows, audit processes, and policy management. Its primary purpose is to streamline the oversight of regulatory compliance and risk mitigation activities, enabling businesses to maintain operational accountability and enhance decision-making through real-time insights. Key features include risk and control management, audit tracking, incident reporting, compliance documentation, and customizable reporting dashboards that provide visibility into organizational risk posture. The user interface of Trace is intuitive and user-friendly, with a dashboard-centric design that presents critical information such as open risks, pending audits, and compliance statuses at a glance. Navigation is structured logically, allowing users to switch efficiently between modules for risk registers, audits, policies, and incident tracking. The interface supports both desktop and web-based access, with clear labeling and modular layouts that reduce the learning curve for new users and allow role-specific views for managers and operational staff. Functionality-wise, Trace covers end-to-end GRC processes.
Pros & Cons
- +Its web-based accessibility means auditors can conduct work seamlessly even when traveling.
- +The system follows the internationally recognized ISO PDCA cycle, ensuring audit quality instantly.
- +Integrating all audit, risk, and compliance activities prevents data silos and messy manual consolidation.
- +Detailed workflow and Maker/Checker controls enforce robust governance and dual authorization needs.
- +The automatic logging and security features create an accurate, undeniable audit trail of all activities.
- −The complexity of the integrated EDICT framework might require significant initial training for new users.
- −Data capture relies on Excel or custom interfaces, potentially limiting integration with less common accounting systems.
- −The numerous features and customization options may overwhelm smaller audit practices using the standard product.
- −The system is a specialized auditor's tool, possibly lacking features for broader enterprise risk management.
- −The company is based in India, which might pose support or time zone issues for US/EU clients.
Features
Key features
- Auditor's Workbench based on ISO Standards
- TRACe functions as a specialized environment for auditors, automatically enforcing the Plan-Do-Check-Act (PDCA) methodology promoted by ISO.
- Complete Life Cycle Coverage (Risk, Compliance, Audit)
- It manages the entire process from audit planning and risk assessment through execution, issue tracking, and final report generation.
- Integrated Document Management and Workflow (EDICT)
- The system seamlessly incorporates the proprietary EDICT framework for document management, workflow, and approval oversight at every audit stage.
- Web-Based Global Accessibility
- Being browser-based, the system allows auditors to access the platform from anywhere, supporting work on the road or at an auditee's site.
- Flexible and Non-Industry Specific
- The software is highly flexible and can be adapted to any business segment by defining an appropriate Audit Universe, making it universally applicable.
- Automated Data Capture and Sampling
- Features the ability to capture audit data from accounting systems (e.g., Intacct) via Excel or direct interface, with sample selection methodologies available.
Additional features
- Customizable Enterprise Version
- An option for large organizations requiring tailored features.
- Standard Product Version
- A pre-packaged option for individual practicing auditors.
- Digitally Mimic Organization Structure (Governance)
- The system can model the company's organizational setup.
- Roles and Designations (Governance)
- Allows defining and managing user roles within the system.
- Approval Procedures (Governance)
- Supports the definition and execution of necessary approval steps.
- Issues Escalation Procedure (Governance)
- Defines how identified issues are elevated for resolution.
- Maker and Checker Concepts (Governance)
- Implements dual control for critical activities.
- Authorizations and Permissions (Governance)
- Manages user access rights and privileges.
- Manage Compound Documents (Governance)
- Facility to handle documents composed of multiple parts or files.
- Map Business Line/Units and Functions/Entities (Risk)
- Supports the modeling of the organization's structure for risk context.
- Schedule, Execute, Assess, and Review Compliance Checks
- Provides a structured process for conducting compliance checks by internal or external auditors.
- Plan and Schedule Periodic Audits (Audit)
- Supports setting up annual, quarterly, and monthly audit routines.
- Audit Types Supported (Audit)
- Covers Management, Information System, Statutory, Forensic, Compliance, and Special Audits.
- Define Audit Universe, Process, Risks, Controls, and Steps (Audit)
- Allows detailed configuration of the audit scope and methodology.
Pricing
Countries & Languages
Available in
Interface languages
Billing currencies
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About TRACe
TRACe is a GRC (Governance, Risk, and Compliance) software from Multimedia Computer Systems that supports organizations in managing compliance and risk. It provides features including TRACe GRC, Doc Assist, and Case Studies so users can effectively track regulatory obligations, improve documentation, and use real-world examples for better decision-making. This platform also integrates with Digital Office Framework to facilitate broader organizational governance and risk management strategies. With its focus on comprehensive reporting and compliance documentation, TRACe helps organizations maintain regulatory adherence and mitigate risks. Key capabilities: TRACe GRC Doc Assist Case Studies Digital Office Framework Financial Accounting Best for: organizations that need reliable governance and compliance solutions.
TRACe Details
TRACe's In-App Market Place
Does TRACe have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
($) USD
Pros & Cons
- Its web-based accessibility means auditors can conduct work seamlessly even when traveling.
- The system follows the internationally recognized ISO PDCA cycle, ensuring audit quality instantly.
- Integrating all audit, risk, and compliance activities prevents data silos and messy manual consolidation.
- Detailed workflow and Maker/Checker controls enforce robust governance and dual authorization needs.
- The automatic logging and security features create an accurate, undeniable audit trail of all activities.
- The complexity of the integrated EDICT framework might require significant initial training for new users.
- Data capture relies on Excel or custom interfaces, potentially limiting integration with less common accounting systems.
- The numerous features and customization options may overwhelm smaller audit practices using the standard product.
- The system is a specialized auditor's tool, possibly lacking features for broader enterprise risk management.
- The company is based in India, which might pose support or time zone issues for US/EU clients.
TRACe's Support Options
Email Address
info@mmcspl.comContact
+91 (80) 2349 2185TRACe's Alternatives
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