ACL, a monitoring software provider for the private sector and government, has introduced ACL Essentials, its new suite of analysis apps that continuously assess ERP systems.
The Essentials process controls are pre-built and are each available either standalone or can be bundled into mix-and-match solutions.
The apps are designed to identify control gaps by monitoring data continuously for indicators of fraud, waste and abuse of business ethics, thus providing insight into ERP process health, compliance risk and financial exposure.
ACL does not add preventative controls, but uses detective controls, which ensure ERP processes are working as intended. For example, ACL Essentials applied to the accounts payable process may flag instances of a purchase order date occurring after an invoice date or paid at a greater amount than approved.
“While each public, private or government organization is unique, nearly 60 percent of process areas are identical for all, like payroll and vendor management,” said Dan Zitting, chief product officer at ACL, in a statement. “Constraints on time, skills and resources mean very few organizations are able to analyze the massive data they produce each day. ACL Essentials offers pre-built, process-ready tests that continuously monitor data, with little human intervention, so teams can focus their time on the risks unique to their business environments.”
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