Latest Updates Include New Content for Expanded GRC Use Cases, Improved Mass Data Upload, and “One-Click” Data Profiling
VANCOUVER – July 6, 2016 – ACL, a software provider helping governments and the world’s public and private companies stamp out fraud, operational waste, and unethical business, today announced availability of its Summer 2016 product release focused on features for financial compliance. These updates span three categories of improvements: scaling up for complex financial environments, 27 new financial crime-related risk analytics, and new risk visualization capabilities designed for immediate impact in finance teams.
“Throughout the last quarter, ACL has been focused on enhancing our products for larger organizations and, specifically, frustrated finance teams trying to implement streamlined controls for fraud, waste, and abuse,” comments Dan Zitting, chief product officer of ACL. “Our product development teams have made major improvements to the process of visualizing potential problems, detecting them, and managing the usually tedious process of tracking what happens to identified red flags.”
New Content to Support Expanded GRC Use Cases
ACL continues to expand the applicability of its GRC platform through development of new and more versatile best practices content, making it easier to manage more use cases. The Summer 2016 release includes:
- New survey/questionnaire templates: ACL subscriptions now include an assessment questionnaire library with pre-built, customizable templates to assist in building some common uses of GRC survey functionality, including policy attestation, IT incident reporting, audit readiness, and disclosure certification.
- Risk control matrix templates for SOX: To help SOX teams who struggle with control activity description wording and process documentation, ACL GRC subscriptions now include pre-populated SOX templates with risks and control activity descriptions. With more than 10 processes and their associated risks mapped to COSO, SOX compliance teams no longer have to reinvent the wheel.
- Expanded analytics inspirations: ACL Inspirations, an interactive library of analytic ideas built from decades of experience, also continues to grow. New resources were added in a variety of categories including: expanded analytics for P-Cards and Unemployment Insurance Fraud, and new collections for POS Zapper Fraud and Gaming.
- Added ready-to-use tests for financial analysis: A click away from Inspirations, subscribers can access a growing catalog of scripts through ACL’s ScriptHub, which added more than 25 new analytics this quarter to help with financial analysis.
Scaling Up for Large Enterprises
Large enterprises, especially those that operate on a global scale, are constantly managing hundreds of controls across hundreds of entities, creating a variety of daunting challenges. The ACL platform now provides a more streamlined and manageable approach to handling a high volume of complex data, regulatory compliance requirements, and internal controls spanning global entities.
New features include: the ability to bulk upload mass data; an enhanced ability to copy, clone, share, and reuse content; and a new “de-duplifier” to rid data of duplicates. Collaboration and tracking is easier with enhanced logging, and reporting speed performance is now up to 10 times faster.
Since data visualization is highly valued by customers, the company has worked to expand and enrich its library of tools available to subscribers, including cross-tab visualization, one-click data distributions, enhanced field statistics, and many other enhancements.
Particularly valuable in corporate finance roles, cross-tab visualization provides simple data summarization and segmentation, such as by category or department, for financial analysis. Additionally, the new “one-click” data profiling enables users to visualize data distribution and understand key field statistics at an instant glance. The data profiling provided by these key features drives a better understanding of business processes through, for example, the visualization of the range of invoices, number of invoices per period, variations in invoices, frequency of negative invoices (indicating returns), and more.