SOURCE: Approva Corporation

Approva Corporation

July 07, 2010 11:20 ET

Approva Launches Industry's First On-Demand Continuous Controls Monitoring (CCM) Suite

Approva One On Demand Enables Customers to Implement Market-Leading CCM Suite More Quickly and Cost-Effectively

RESTON, VA--(Marketwire - July 7, 2010) -  Approva® Corporation (www.approva.net), the leader in continuous controls monitoring (CCM) and audit automation software, today announced the availability of its Approva One Continuous Controls Monitoring Suite on-demand as a web hosted software-as-a-service (SaaS) solution. 

Approva One On Demand is the industry's first comprehensive CCM offering available as a service. With Approva One On Demand, business users, audit and IT are now able to rapidly identify, investigate and resolve business exceptions that impact performance all within an environment securely hosted and managed in a world-class data center. Unlike other CCM suites on the market, Approva One enables organizations to monitor and correlate exceptions across all four categories of controls: user access, transactions, master data and application configuration settings.

The capabilities of Approva One are already being used across more than 200 of the world's largest organizations to help address the following types of challenges:

  • Lowering audit and compliance costs by automating the manual testing of key controls and annual audit programs;
  • Reducing accounting errors requiring manual investigation and reconciliation to improve the accuracy and confidence in financial reporting;
  • Reducing the occurrence of fraud by continuously monitoring for user access, segregation of duties or process control violations;
  • Improving order accuracy and on-time shipments by identifying incomplete or inaccurate data that is delaying orders;
  • Lowering procurement costs by flagging purchases that do not take advantage of preferred pricing or purchases that circumvent corporate policy;
  • Reducing risk of inappropriate or incorrect pricing by identifying orders with prices that vary from official price list or negotiated contract terms.

"Approva One On Demand greatly expands the universe of organizations that can benefit from the latest CCM functionality," said Steve Elliott, Chief Technical Officer at Approva. "By enabling on-demand access to Approva One in a fully managed environment, Approva eliminates the need for organizations to provide the hardware, software and administrative resources to support their CCM implementation. We're thrilled to be able to reduce the amount of capital investment and accelerate the time to value for our customers."

Approva One On Demand comes at a time of increased interest in CCM in the risk, audit and compliance communities. In March, Gartner Inc., an industry-leading analyst firm, released its first Magic Quadrant for Continuous Controls Monitoring. In the report, Gartner positioned Approva in the Visionaries Quadrant.

Approva One On Demand is deployed in a highly secure, world-class hosting environment that features SAS 70 Type II Certification and multiple security and power redundancies. This arrangement enables optimum hardware configuration and security protection for Approva One, while ensuring the security of sensitive financial data. 

Approva One On Demand is available in one-, two- and three-year terms. For more information, please visit www.approva.net/one.

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 risk, increase operational efficiency and prevent inappropriate payments. Global companies such as Bayer, DirecTV, Discovery Communications, 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, IBM and SAP to provide a holistic Governance, Risk & Compliance (GRC) solution.

For more information, visit http://www.approva.net, follow us on Twitter, subscribe to our blog, Audit Trail, or call +1-703-956-8300.

Contact Information

  • For More Information Contact:
    Erin Hawkinson
    DBC PR for Approva
    +1.202.292.4574
    approva@dbcpr.com