50% Faster SOX Compliance with DataSnipper

Challenge

Before implementing DataSnipper, Prospect's SOX compliance workflow relied on traditional manual tie-outs and documentation practices. While effective, this approach required significant time and attention to detail, with preparers and reviewers spending much of their effort on routine tasks rather than higher-value analysis.

"DataSnipper has enhanced the way our team approaches SOX compliance and testing. Our processes were effective before, but the tool has brought a new level of efficiency, accuracy, and standardization to our work. It saves us meaningful time and creates space for deeper analysis, enabling the team to focus even more on high-value activities."

Sarah Fitzmartin

Controller – Valuations and Financial Due Diligence

Solution

Since adopting DataSnipper, Prospect’s SOX compliance process has become even more efficient, consistent, and streamlined. Automated tie-outs and referencing have simplified many of the steps that previously required extensive manual attention, helping them complete testing and review in significantly less time.

In fact, Prospect has seen roughly a 50% reduction in the time spent on documentation and review, which has allowed the team to work more quickly while maintaining a high level of quality.

The time saved has also created space for deeper analysis and more robust controls testing. Reviewers can now trace evidence and validate tie-outs with greater ease, enabling them to focus on providing meaningful insight rather than reperforming routine tasks.

As a result, both the pace and the overall depth of Prospect’s SOX compliance work have improved, enhancing their ability to deliver strong, well-supported conclusions.

Use Cases & Impact

Prospect uses DataSnipper across multiple areas of SOX and compliance work.

SOX valuation procedures

This platform helps streamline testing by linking supporting documentation to valuation inputs, ensuring accuracy and transparency.

Accounts Payable testing

They use DataSnipper to trace transactions back to invoices and payment support, which significantly reduces manual effort and review time.

Tax workpapers and returns

The Tax team leverages DataSnipper to optimize referencing, maintain consistency across schedules, and simplify review workflows.

Key features they use include document linking, text recognition, and automatic referencing, which make testing and reviews faster and more standardized.

Overall, Prospect has seen a 40–50% reduction in time spent on testing and review, along with improved accuracy, easier traceability, and better collaboration across teams.