Today’s posting comes from Constantine Gart, a Product Marketing Associate with ACL, who is currently overseeing the upcoming launch of Version 4 of ACL’s Analytics Exchange.
We’re now just days away from releasing AX4, a solution that has already gained widespread recognition and acceptance for its ability to detect fraud and revenue leakages by some of the largest enterprise and federal level government organizations in the world. Here’s a sneak-peak of some of three new features and functionality that our customers have been asking for:
1. Improved File Management through new Archive and Restore
Customers that run analytic tests on a daily or even hourly basis will benefit from this. Users are able to save on storage capacity by compressing previous analytic engagements as ZIP files and archiving them separately.
2. Save Time and Easily Schedule Analytics with Cascading Chains
This will benefit AX power-users who have a long list of 100+ analytic tests that they had to manually schedule and run one after the other. Now, the users can schedule and run a sequential chain of analytics that will automatically run one analytic test after the other.
3. Better Integration with Enterprise IT Infrastructure through API
The IT department can use the Application Programming Interface (API) to integrate AX into their own enterprise systems such as an IT Asset Management tools. This will enable the IT department to remotely perform AX functions including administering access permissions, scheduling and running analytics tests at off-peak hours.
You’ll also notice one more big change—its name! ACL AuditExchange™ is now called ACL™ Analytics Exchange.
Even though AuditExchange was clearly targeted towards audit departments, we soon found that many other departments saw great value in the solution.
- An Account Payable Manager automated continuous analytic tests to detect instances of money leakages, which the department would immediately remediate the risk.
- A Financial Controls Officer developed tests to alert the Chief Financial Officer when internal controls were not complied according to the Sarbanes-Oxley (SOX) regulations.
As you can see, many of these departments were performing “audit” like functions that ensured that their organizational controls were working effectively; and if there was a failure, the appropriate stakeholders would be notified to remediate the situation immediately. To accommodate all of our customers that have used this technology, we have repositioned AX as ACL Analytics Exchange.
Stay tuned for more details, which will be revealed as the launch date approaches.
