Approva Positioned in the Visionaries Quadrant in Continuous Controls Monitoring Magic Quadrant
Company Recognized Based on Completeness of Vision and Ability to Execute
March 25, 2010 - Reston, VA
Approva® Corporation (http://www.approva.net), the leader in continuous controls monitoring (CCM) and audit automation software, today announced that the leading analyst firm, Gartner, Inc., has positioned it in the visionaries quadrant in the Magic Quadrant for Continuous Controls Monitoring report. A complimentary copy of the report, which analyzes CCM providers based on their ability to execute and completeness of vision, is available on Approva’s web site at http://www.approva.net/gartnerccm.
“We believe our position in the ‘visionaries’ quadrant reflects our innovation and leadership,” said John Becker, Approva’s chief executive officer. “With our recent launch of Approva One, Approva offers a solution that supports both continuous monitoring (CM) and continuous auditing (CA) with the ability to correlate exceptions across all four types of technologies identified in Gartner’s Magic Quadrant for Continuous Controls Monitoring including CCM for segregation of duties (CCM-SOD), CCM for transactions (CCM-T), CCM for master data (CCM-MD) and CCM for application configuration (CCM-AC).”
In defining the continuous controls monitoring (CCM) market the report says: “CCM is a set of technologies applied to the controls in financial applications to assist the business in reducing the cost of auditing through CA, reducing business losses through CM, and improving business performance by ensuring that automated process controls are working effectively.”
In the report, Gartner analysts French Caldwell and Paul E. Proctor highlight CCM’s benefits for business performance improvements. Specifically, the report notes, “When applied to improving financial governance, not only can CCM help to ensure that policies are followed for compliance reasons, but also it has direct business performance benefits – particularly in reducing fraud and improving transactional processes – thereby increasing the availability of working capital.”
Interested parties can access a complimentary copy of the Magic Quadrant for Continuous Controls Monitoring report on Approva’s web site.
About the Magic Quadrant
The Magic Quadrant is copyrighted 2010 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner’s analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the “Leaders” quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
About Approva
Approva® Corporation is the industry-leading provider of continuous controls monitoring software and is the industry standard at Big-4 audit firms. We enable business, finance, IT and audit professionals to identify, manage and prevent business exceptions in order to reduce compliance risk, increase operational efficiency and prevent inappropriate payments. Global companies such as Bayer, DirecTV, Discovery Communications, First Advantage, Honeywell, Pratt & Whitney and T-Mobile rely on Approva to deliver actionable and auditable intelligence of control breakdowns across their business systems, processes and transactions. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic Governance, Risk & Compliance (GRC) solution.
For more information, visit http://www.approva.net or call +1-703-956-8300.
(1) Gartner, Inc., “Magic Quadrant for Continuous Controls monitoring,” French Caldwell, Paul E. Proctor, March 23, 2010