Better Business Through Data Analysis & Monitoring My Account

Secure Payables Solution Automates Analysis of Key Controls Within AP & P2P

Identifies Anomalies from Initial Detection to Resolution

HOUSTON – October 20, 2016 – Audimation Services, Inc. today announced the release of a Secure Payables Solution developed to automate the process of acquiring and analyzing data from various Accounts Payable (AP) and Procure-to-Pay (P2P) systems to quickly identify anomalies from initial detection to resolution.

The Secure Payables Solution brings information from disparate sources into a single analytics platform where it is consolidated and analyzed to uncover anomalies, errors and potential fraud. Exceptions are shared with Business Process owners including AP, Finance, Compliance, Audit and Shared Service departments to take immediate action, thereby reducing the impact on business. This proactive approach enables significant cost savings by quickly identifying and resolving issues at the source.

The Audimation Services Solutions Development team spent more than five years working with clients to increase the efficiency of AP processes, including helping Texas Children’s Hospital where the organization recently completed its implementation of the Solution to help align business processes with internal controls and improve compliance.

“The Secure Payables Solution allows us to independently monitor key purchase and payment controls across multiple systems, and involve the business unit managers in that practice,” said Mamie Williams, Assistant Director of Internal Controls, Texas Children’s Hospital. “With an automated process, we anticipate significant cost savings by identifying and addressing issues to prevent losses.”

“Procurement is a critical and complicated area to audit,” said Kurt Johnson, Manager of Solutions Development, Audimation Services. “We’ve worked closely with clients to develop a proven suite of analytics to uncover errors and potential fraud that may not have been discovered otherwise. This Solution gives organizations a complete, turnkey method for monitoring high transaction volumes across multiple systems to proactively address improper payments.”

The Solution uses 40 pre-written analytics to quickly identify control failures and problem areas at the source, and runs on the CaseWare™ Monitor platform. It offers customizable workflows to allow multiple levels of escalation, the ability to set deadlines, and supply guidelines to ensure remediation.

Product Availability
The Secure Payables Solution is available for purchase directly from Audimation Services, Inc. We can recommend analytic solutions configured to suit any business need or process. For more information and pricing, contact services@audimation.com.

About Audimation Services, Inc.
Founded in 1992, Audimation Services, Inc. is a leader in providing data analysis technology to help companies understand their data, assess risks, test controls, and fight fraud. As the sole U.S. distributor of CaseWare Analytics technologies, we help our clients maximize their technology investments by providing support, training and other valuable resources. For more information about Audimation Services, visit www.audimation.com or call 888.641.2800.

About CaseWare Analytics
CaseWare Analytics is home to IDEA Data Analysis, Collaborative Analytics and Continuous Monitoring solutions. All CaseWare Analytics technologies are built upon the foundation of best practices in assessing risk and controls, hereby enabling audit and finance professionals to use real data insights to create remarkable ROI & business improvement opportunities.  Visit www.caseware.com for more information.

Print

Number of views (977)/Comments (0)

Tags:
Brad Newman

Brad Newman

Other posts by Brad Newman
Contact author

Please login or register to post comments.

Name:
Email:
Subject:
Message:
x
New Features in IDEA 10.3
29 January 2018

New Features in IDEA 10.3

IDEA now runs faster and offers more flexibility than ever before

The latest version of IDEA introduced a host of new features and improvements.  IDEA now runs faster and offers more flexibility than ever before.

Read More

5 Ways Data Analytics Saves Time
26 January 2018

5 Ways Data Analytics Saves Time

Turn Hours of Work into Minutes

5 time-saving ways data analytics can help you shrink your audit time, while improving the quality of your work.

Read More

Tired of Wrangling Cumbersome Client Data?
24 January 2018

Tired of Wrangling Cumbersome Client Data?

10 Ways Our Importing Services Make it Easy

10 reasons to try our data importing services, which save you time, effort and undue frustration. 

Read More

A Journey in Using Data Analytics
24 January 2018

A Journey in Using Data Analytics

Testimonial from Brian Cullum

Read how Brian Cullum used IDEA to help identify a multi-million-dollar fraud based on the overstatement of the borrower’s lending base.

Read More

Planning & Scoping Your Audit
15 January 2018

Planning & Scoping Your Audit

With Data Visualization

Data visualization is changing the way auditors are communicating with their audiences. Easy planning, find risk areas and prioritize your scope of work.

Read More

Infusing IDEA into Your Organization
16 November 2017

Infusing IDEA into Your Organization

Building a successful and sustainable data analytics program requires a mix of people, processes and products...it all starts with collaboration.

Read More

Using Nested @Functions()
16 November 2017

Using Nested @Functions()

IDEA Tech Tip

Combining @functions in creative ways can open a wealth of new capabilities that you may not have known your IDEA software is capable of.

Read More

IDEA 10.3 Now Available
15 November 2017

IDEA 10.3 Now Available

CaseWare Analytics Launches Update

Newest release of CaseWare IDEA introduces key features and enhancements to help auditors, accounts and other finance professionals improve their audits.

Read More

Innovation Starts with IDEA
14 November 2017

Innovation Starts with IDEA

Wrap Up - Part 1

More than 100 IDEA users gathered in Houston on November 1-2 to learn new strategies for implementing and growing their use of data analytics.

Read More

Expert Data Importing Services Available
17 October 2017

Expert Data Importing Services Available

Our goal is to eliminate the inherent time and frustration of importing challenging files so professionals can focus on more value-add tasks.

Read More

Fraud: An Ounce of Prevention...
17 October 2017

Fraud: An Ounce of Prevention...

When it comes to fraud, an ounce of prevention is worth a pound of cure. The full impact of fraud can be devastating, well beyond the financial loss.

Read More

GreenSky Loan Servicing Company Reduces Monthly Statement Review from Days to Minutes with IDEA
17 October 2017

GreenSky Loan Servicing Company Reduces Monthly Statement Review from Days to Minutes with IDEA

Auditors are able to access and analyze raw data with IDEA, which has significantly reduced their need to wait on IT for reports.

Read More

Take a Lean Six Sigma Approach for Audits
19 September 2017

Take a Lean Six Sigma Approach for Audits

Henry Ford once said that if he had asked people what they wanted, they would have said faster horses. Constant innovation keeps businesses thriving.

Read More

Agile Analysis Techniques for the GL
19 September 2017

Agile Analysis Techniques for the GL

Shortcuts to find anomalies and outliers in the general ledger - speed up your analysis with the Financial App

Read More

RSS