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.
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 [email protected]
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.