ACL launches Essentials an analysis apps suite

Vancouver, Canada-based ACL, is a SaaS company that provides data analytics software and consulting services in risk and audit management to enterprises. It does so by integrating analytics into risk assessment, issue tracking and remediation workflow with data visualization and dashboarding with its key performance indicator (KPI) and data visualization tools. It also claims to offer end-to-end compliance management, operational risk management and fraud management. In a recent announcement, the company has launched ACL Essentials, a suite of analysis applications to monitor ERP process controls and risk. The service suite is built on ACL platform and aims at identifying control gaps by monitoring data for indicators of fraud. The company said, it provides pre-built, process-ready tests that apparently doesn’t require any human intervention. It could also potentially flag instances of anomalies in the accounts or payable processes (like a purchase order date occurring after an invoice date or paid if it is at a greater amount than approved). Dan Zitting, Chief Product Officer, ACL, said:

“While each public, private or government organization is unique, nearly 60% of process areas are identical for all, like payroll and vendor management. 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.”

There are 11 pre-built analysis apps available at the time, which can be accessed at a nominal cost. According to the company these controls can be availed individually or can be bundled in a mix-and-match solution, according to the requirements. The offerings also claim to manage and optimize other enterprise necessities like assets management, purchase order management, cash disbursements and maintaining general ledger. Amongst other, it also facilitates human resource (HR) operations in processing salaries & payroll, sales and stock analysis and vendor management. ACL Essentials is in line with the company’s existing product portfolio which includes GRC (Governance Risk and Compliance), Analytics, Analytics Exchange and Direct Link for SAP ERP & SAP CRM. The company dates back to the year 1987 and since has been competing similar service providers like S&P Global, FactSet, Markit and Dow Jones.