-- Lowering procurement costs by flagging purchases that do not take advantage of preferred pricing or purchases that circumvent corporate policy; -- Reducing accounting errors requiring manual investigation and reconciliation to improve the accuracy and confidence in financial reporting; -- Improving order accuracy and on-time shipments by identifying incomplete or inaccurate data that is delaying orders; -- Reducing risk of inappropriate or incorrect pricing by identifying orders with prices that vary from official price list or negotiated contract terms; -- Lowering audit and compliance costs by automating the manual testing of key controls and annual audit programs."Too little attention has been placed on continuous controls monitoring by chief financial officers, internal auditors and corporate risk management and compliance leaders," said French Caldwell, research vice president at Gartner Inc., a leading analyst firm. "By automating financial controls monitoring, CCM solutions can increase operational efficiency for critical financial processes, reduce fraud and improve financial governance resulting in a substantial return on investment." New and enhanced features in Approva One include:
360-Degree View of Exceptions: Rich contextual information enables users to quickly investigate each exception by viewing related data and exceptions to identify the root cause. Correlation of Multiple Control Types: Enhanced correlation capabilities enable users to monitor and correlate exceptions across multiple types of controls including user access, transactions, master data and application configuration settings. This allows users to monitor a broader set of processes and applications than any other CCM solution. Exception Management: New exception management capabilities enable users to respond quickly when issues arise by assigning ownership of exceptions, remediating issues and tracking follow-up. A new and innovative e-mail collaboration feature enables business owners to discuss exceptions with any user and document follow-up for audits. Users also now have the ability to navigate straight from exceptions in Approva One to the underlying data and transactions in the source ERP system for rapid remediation. Exception Identification: Hundreds of new out-of-the-box rules along with associated key performance indicators, risk indicators and dashboards perform fine-grained analyses that identify and track the most common exceptions across core financial processes. Enhancements to rule building and management capabilities enable business users to quickly develop and manage rules that monitor new risks without learning proprietary scripting languages used by other CCM solutions. Risk Scoring & Analytics: New risk scoring capabilities quantify the impact of exceptions by both severity of risk and the dollar impact to enable users to prioritize their follow-up on the exceptions which present the greatest risk. Users can also export data into Excel to perform advanced analytics and automate reporting using embedded OLAP-based relationships. KPIs, Dashboards & Reporting: New reporting and dashboarding capabilities enable users to personalize and tailor their data and interface to their individual role. A new data browser enables detailed reporting and filtering where a data search can be instantly converted into a rule. Configurable dashboards and reports also enable customized reporting of key exceptions while role-based access to data and reports maintains security. Audit Trail & Security: Enhanced audit tracking capabilities further automate audit-related activities both for internal control assessments and external audits. Fine-grained security enables administrators to control users' access on each page.Approva will hold a webcast on March 16th featuring Approva One, which will be generally available at the end of March. For additional information including a video overview of Approva One visit www.approva.net/one or request an Approva sales representative to contact you at http://www.approva.net/requestcall/. About Approva Approva® Corporation is the industry-leading provider of continuous controls monitoring software and is the industry standard at Big-4 audit firms. We enable business, finance, IT and audit professionals to identify, manage and prevent business exceptions in order to reduce compliance risk, increase operational efficiency and prevent inappropriate payments. Global companies such as Bayer, DirecTV, Discovery Communications, First Advantage, Honeywell, Pratt & Whitney and T-Mobile rely on Approva to deliver actionable and auditable intelligence of control breakdowns across their business systems, processes and transactions. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic Governance, Risk & Compliance (GRC) solution. For more information, visit http://www.approva.net or call +1-703-956-8300.
Contact Information: For More Information Contact: Chad Giron DBCPR for Approva +1.571.216.4894 approva@dbcpr.com