VANCOUVER, March 7, 2013 /PRNewswire/ -- ACL, the company that is transforming audit and risk, announced today the launch of ACL™ Analytics Exchange (AX) version 4. AX—formerly ACL AuditExchange—goes beyond audit, enabling adjacent departments, including finance, risk and compliance, to protect the bottom line by identifying control deficiencies such as fraud and revenue leakage. Organizations are most vulnerable when they are negligent in testing controls, and the outcome—such as financial loss and reputational damage—can be costly.
AX technology powers two discrete solution offerings serving different business structures. The Data Analysis for Teams solution allows organizations to analyze transaction data and uncover what has happened so remediation can occur. The Enterprise Continuous Monitoring (ECM) solutionempowers companies to continuously monitor the health of their controls and proactively look for gaps.
"By automating control tests, tracking results and trends, and remediating exceptions, ACL's Enterprise Continuous Monitoring solution enables a proactive approach for identifying operational deficiencies and control gaps," said ACL customer Jason A. Gross, CPA, CIA, CFE, CISA, ACDA, Vice President, Controls Management, Siemens Financial Services, Inc. "ECM will really simplify continuous monitoring and add significant value to the control framework as an integral solution."
The newly released version of AX enhances usability and performance with powerful new features:
- Better Integration with Enterprise IT Infrastructure: a new application programming interface (API) enables the IT department to remotely perform AX functions, including administering access permissions, as well as scheduling and running analytic tests at off-peak hours
- Improved Analytics Scheduling: reduce manual effort by creating a sequential chain of analytics—increasing productivity and saving time in complex control testing situations
- More Efficient Analytic File Management: archive previous analytic projects for future re-use to save on storage capacity, simplify version control and maintain a clean virtual workspace
"Every month, new reports emerge of organizations being fined by international watchdogs for anti-bribery, privacy and fraudulent breaches; lack of adherence to industry-specific regulations; or corporate governance issues," said Laurie Schultz, President and CEO of ACL. "AX is a cost-effective way to monitor and test controls to protect the bottom line."
ACL delivers technology solutions that are transforming audit and risk management. Through a combination of software and expert content, ACL enables powerful internal controls that identify and mitigate risk, protect profits, and accelerate performance.
Driven by a desire to expand the horizons of audit and risk management so they can deliver greater strategic business value, we develop and advocate technology that strengthens results, simplifies adoption, and improves usability. ACL's integrated family of products—including our cloud‐based audit and compliance management solution and flagship data analytics products—combine all vital components of audit and risk, and are used seamlessly at all levels of the organization, from the C‐suite to front line audit and risk professionals and the business managers they interface with. Enhanced reporting and dashboards provide transparency and business context that allows organizations to focus on what matters.
And, thanks to 25 years of experience and our consultative approach, we ensure fast, effective implementation, so customers realize concrete business results fast at low risk. Our actively engaged community of more than 14,000 customers around the globe—including 89% of the Fortune 500—tells our story best. Here are just a few. Visit us online at www.acl.com.
© 2013 ACL Services Ltd. ACL and the ACL logo are registered trademarks of ACL Services Ltd. All other company and product names are trademarks of their respective owners.