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APPSolve Bank Account Auditing

APPSolve has established itself as a market leader in providing niche technical services and support to the international Oracle Applications market. APPSolve provide tried and trusted solutions and innovative software products to our clients, helping them to achieve a high return on their Oracle investment.

Oracle E-Business Suite has many benefits and standard functionality that makes it a worthwhile investment to many companies. With APPSolve Software the aim is to move clients from being reactive when issues are experienced to being pro-active in implementing measures that has proven over time to be of great business value. One of these measures is Bank Account Auditing.

Why is Bank Account Auditing needed?

In recent years, electronic fraud has become rife and one of the greatest risks facing companies. One of the main reasons is the lack of proper internal controls making it surprisingly easy for individuals to transfer funds illegally. In addition to financial and accounting risk, weaknesses in banking security and controls can also introduce operational risk. Recent research indicated that one of the most common security weaknesses in bank auditing software is that organizations fail to configure auditing to track changes to high risk information, such as supplier bank account details. To trace this during fraud investigation is extremely difficult and cumbersome. This poses serious threats to the company’s reputation and for its clients. Unfortunately, many companies act reactively and only introduce Bank Auditing once fraud is suspected, resulting in additional cost and time delays to secure the system.

The integrity of information is critical and the accuracy and completeness of information depends on robust security and controls. APPSolve has developed a solution to enable preconfigured auditing of the Oracle EBusiness System, providing the necessary security and control required to protect the integrity of the data and reduce electronic fraud significantly.

Why not use Oracle Standard Auditing?

Oracle’s standard Auditing functionality can easily be enabled. The main challenge with standard auditing is that critical changes are often not picked up. You get so much data, that it is difficult to pinpoint the transactions that might be a problem. There is also no user friendly standard reporting available to look at the audit data and to ensure the info gets to the right person. There is no pro-active alert when suspicious changes are made, thus making this option more re-active. APPSolve Bank Account Auditing utilises the power of the standard Oracle auditing and enhances it to specific needs around Bank Auditing.

What is APPSolve Bank Account Auditing?

APPSolve Bank Account Auditing is a quick to implement proven solution for auditing payroll and supplier bank account details. It provides user friendly reports that enable auditing data to be easily available for investigation or record keeping. Information such as who changed which records, what the values were before and after, is easily obtainable and visible in user friendly reports. Fraud investigations can now easily be conducted. Notifications are available to enable the person responsible for the account information to be alerted if changes are made.

Advantages

When choosing APPSolve Bank Account Auditing, you are guaranteed the following:

  • User friendly reporting and purging capabilities
  • Easily obtainable and accurate information in fraud investigation for Supplier Bank Account Details
  • Enabling your business to take proactive measures in reducing risks
  • Real time notifications

Enabling APPSolve Bank Account Auditing is a fundamental system requirement and will prove to be invaluable to your business. Start managing your risk proactively today!