ACL Enhances GRC Offerings in Fall 2015 Release

Sorce:- ACL Blog

VANCOUVER — December 9, 2015 — ACL today announced highlights of the company’s Fall 2015 product release including new interactive content, fresh GRC platform user experiences, and advanced data analytics capabilities. The release further embeds industry best practices and modern design into the product experience.

“Our software is designed to have a transformative effect and drive value for our customers, but this can only be achieved if the platform is adopted,” said Dan Zitting, Chief Product Officer, ACL. “Our Fall 2015 release offers more meaningful, interactive content that enhances ACL customers’ experience across our full GRC platform, greatly accelerating their ability to become productive and bring value to their own unique risk environment.”

Interactive Knowledge Content: Inspirations

The Fall 2015 product release offers ACL subscribers unlimited access to “Inspirations,” a customer portal that features multiple forms of interactive, user-generated and knowledge-based content. ACL customers can search 31 categories of proven strategies for solving common risk-related problems. Inspiration categories include:

• Cash Disbursement Risk: 80+ strategies including Split Purchase Requisitions, Unusual Invoice Patterns, and Pricing Contract Compliance
• Vendor Management Risk: 11 strategies including Dormant Vendors, Employee-Vendor Matching, and Vendor Master File Analysis
• Financial Services Risk: 26 strategies including First Month Default Loans, High-Risk Country Transactions, and Unsecure Loan Profiling
• Healthcare Risk: 21 strategies including Patient Eligibility, Physician Specialty, and Patient Data Privacy
• HR, Payroll, and Timekeeping Risk: 41 strategies including Unusual Employee Changes, Excessive Overtime, and Phantom Employees

Fresh GRC User Experiences

According to multiple industry surveys, audit, risk management, and compliance-oriented professionals are underserved by technology solutions. ACL remedies the traditionally painful experience of working with GRC software through a focus on exceptional design and user experience. In the Fall 2015 release, more than 500 related improvements were made to the ACL™ GRC platform, including:

• Offline Mobility: Users can now take projects into remote/offline environments and sync back later
• Automation: Introduction of automated key risk indicator (KRI) scoring and related risk assurance reporting
• Simple Reporting: An updated custom report and dashboard builder user interface with multiple pre-formatted, “one-click” reports in XLS & PDF formats
• App update: New versions of ACL mobile apps for iOS and Android

Advanced Data Analytics

Data-driven analytics will often uncover transactions that may indicate material risk, but need to be reviewed by professionals to determine whether they are valid business transactions, exceed thresholds, contravene policy, indicate fraud, or risk regulatory non-compliance.

Fall 2015 enhancements to ACL’s Analytics platform enable users to better ingest unstructured data, do more advanced predictive analysis, create better data visualizations, develop more valuable analysis apps, and more powerfully combine data analytic results with organizational human knowledge.

“We’re looking at 16 different types of risk that go from strategic risk, credit liquidity and market risk, through a number of operational risks. And then, of course, reputational risk, which is ever so important these days,” notes Kevin Moylan, Corporate Vice President, Strategic Risk Officer at Cathay Bank. “ACL is evolving the platform in a way that is valuable to us. Being able to create projects in the system, to send surveys out to people, to have them then provide attestation back to us is really vitally important.”