Fiverr, a global digital services marketplace, faced challenges managing complex IT General Controls (ITGC) across multiple systems, including a self-developed AWS microservices platform.
As a NYSE-listed company, Fiverr needed an efficient solution to ensure ITGC effectiveness and financial accuracy. Partnering with Scytale, Fiverr automated its ITGC processes, achieving 100% coverage, enhancing audit efficiency, and embracing continuous monitoring for long-term SOX ITGC compliance.
Fiverr, with millions of active buyers and a large employee base, needed to ensure effective ITGCs across its systems, including its self-developed AWS microservices platform. Traditional ITGC audits were resource-intensive and required coordination across multiple departments and external advisors, making them time-consuming and inefficient.
To improve efficiency, Fiverr partnered with Scytale to implement an automated audit platform tailored to their ITGC needs. The solution shifted Fiverr’s audit process from periodic to continuous monitoring, enabling ongoing evaluation of controls. Scytale’s platform ensured consistent application of audit procedures across Fiverr’s systems, including their SaaS marketplace, GitHub, Monday.com, and Hi-Bob platforms.
Scytale’s platform automated ITGC controls, significantly reducing manual effort and streamlining audit processes.
The solution transitioned Fiverr from one-time audits to continuous monitoring, ensuring ongoing evaluation of their ITGCs.
With Scytale’s automation, Fiverr achieved 100% coverage of the tested population, eliminating the limitations of manual sampling.
The automated platform also delivered substantial efficiency gains, reducing Change Management controls testing efforts by 80% in the first year alone.
With Scytale’s automated ITGC solution, Fiverr achieved significant efficiency gains. In the first year, the time spent on Change Management controls testing was reduced by 80%. Traditional audits, which required 55 hours for testing and analysis, were streamlined to just 12 hours with automation. Scytale’s AI-powered platform provided 100% coverage of the population, compared to the 3% coverage achieved with manual audits. This reduction in testing time and resource utilization allowed Fiverr to transition from a one-time event mindset to continuous monitoring, improving overall audit efficiency and enhancing their control environment.
