Assurance
The owner of the built asset is not in useful possession of any one of the transaction financial models for its private prison portfolio
Tybolt centrally and securely holds and maintains all transaction financial models for the portfolio. Each is instantly accessible, depending on user’s security protocols.
When a project is audited, consequential corrective action to the model is urgent and expensive to implement. Anything reactive isvless efficient than being proactive, and the project owner is under time pressure to fix, and consequently has limited options and bargaining power with which to conduct the fix.
Tybolt proactively maintains the fin model integrity, and provides a instantly accessible certificate of currency to evidence. The independent audit not only will validate the model itself, but the accuracy and relevance of the reporting dashboards, to provide any audit (internal or external) assurance that the not only the fin model data is accurate and current, but that the reports underpinning decision making are too. Further benefits are in the economies of scale of the audit. The fee for the audit is included in the Tybolt service fee, and as the auditor will be engaged across numerous Tybolt client portfolio, the saving benefit of this commercial structure will be passed on to Tybolt’s clients.
The agency responsible for managing the project builds or procures additional tools to manage the project’s finances, at additional cost to that expended on the transaction model
Tybolt negates the need for additional, arbitrary expenditure on project specific tools and instead leverages the data, capacity and investment of the transaction model. Tybolt’s output is a consolidation of disparate, localised tools and removes the risk of subjectivity, costs to maintain and provides a continuity of knowledge throughout the contract term when team members move on.
Payment amounts and reporting are generated from these tools
Outputs generated from subjective inputs present risk of inaccuracies. For example, if multiple tools have different rules on rounding, rounding errors can manifest resulting in significant material inaccuracies. A rounding mis-interpretation on a portfolio/ project of value can equate to $millions over time. Tybolt follows a systematic method of data entry, consistent with the methodology of the transaction model. As this is audited the project owner can be confident that all payments and reporting outputs are consistent and accurate.
Multiple in-house stakeholders and multiple sources of data to collate and emanate.
Tybolt is cloud based with secure, dual-factor identification for its user base. This means that it can be utilised on a cross-department basis. Where inputs and/ or outputs are required from different project stakeholders, Tybolt can provide the platform for single-source-of-truth, quality assured information sharing.
