Smartsheet

How a Publicly Traded SaaS Company Developed Audit-Ready Change Controls in Less Than Two Weeks using Netwrix Strongpoint

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Why didn’t we do this a year ago? It could have saved us a lot of heartache.

Isaac Klinger, Director of Business Systems at Smartsheet

Challenge
  • Inadequate Tracking and Documentation: Initially, Smartsheet relied on screenshots and spreadsheets to track change approvals in NetSuite. This manual process was not only labor-intensive but also prone to errors, with no effective way to capture every change, especially those that inadvertently slipped through.
  • Overwhelming Audit Log Data: Smartsheet's attempts to audit changes using system notes were overwhelmed by the volume of data generated—approximately 600,000 rows from just one month's audit log history. This massive amount of data was impractical to sort through manually without significantly increasing their team size.
  • SOX Compliance Pressures: As a publicly traded company, Smartsheet faced strict requirements under the Sarbanes-Oxley Act (SOX) to maintain precise records of ERP changes. This necessitated a solution that could not only handle the documentation but also ensure that all changes could withstand auditor scrutiny.
  • Urgent Implementation Timeline: With a fiscal deadline approaching, Smartsheet needed to implement detective change controls quickly—within four months before the start of their next fiscal year.

Smartsheet had Netwrix Strongpoint up and running in two weeks — with less than 6-8 hours of work. Now, Smartsheet is saving 15-20 hours a month on audit prep — and staying compliant without expanding the team.

Isaac Klinger, Director of Business Systems at Smartsheet

Netwrix Solution

For a publicly traded company like Smartsheet, anything that reduces stress and increases the certainty around audit prep is a very good thing. Smartsheet sought a solution like Netwrix Strongpoint after encountering challenges during their first SOX audit, realizing the need for robust change controls to account for emergency changes. Despite initially using manual methods like screenshots and spreadsheets, they struggled to track all changes effectively, leading them to seek a comprehensive change management system with detective controls to ensure audit readiness.

  • Comprehensive Reporting on Changes and Compliance: With Netwrix Strongpoint, Smartsheet gained the ability to generate detailed reports that not only show noncompliant changes but also highlight how these issues were resolved. These reports are crucial during audits to demonstrate the company’s proactive approach to managing and rectifying compliance issues. They serve as proof of the company’s commitment to maintaining rigorous internal controls and ensuring that every aspect of their ERP system is auditable and transparent.
  • Time Savings and Enhanced Focus: The introduction of Netwrix Strongpoint's automated systems has yielded significant time savings for Smartsheet, particularly in the area of monthly audit reviews. Previously consuming 15-20 hours per month, these tasks are now handled automatically by Netwrix Strongpoint, freeing up the team to focus on strategic initiatives rather than routine compliance checks. This shift not only optimizes productivity but also reduces the stress and workload on the IT and financial systems teams, fostering a more focused and efficient work environment.
  • Automated Documentation and Compliance Tracking: Transitioning from manual tracking methods that relied on spreadsheets and screenshots, Netwrix Strongpoint automated Smartsheet’s audit trails and compliance documentation. This automation dramatically reduced the likelihood of human error and ensured that every system change was recorded and easily accessible. This level of documentation is vital for adhering to audit standards and proving compliance during SOX audits, as it provides clear, unambiguous records of all changes.
Key Benefits
  • Improved compliance management
  • Streamlined implementation
  • Time savings for audit preparation
Netwrix Applications
Netwrix Strongpoint
Strongpoint for NetSuite
Customer Profile

Smartsheet (NYSE: SMAR) serves as a platform for enterprise work management, helping align people and technology to accelerate pace and spur innovation. Used by millions, Smartsheet empowers users to accomplish more. 

With robust enterprise-grade security, Smartsheet is utilized by over 75% of Fortune 500 companies for implementing, managing, and automating processes across various departments and applications.

Customer: Smartsheet

Industry: Technology

Website: www.smartsheet.com