Multiquip Selects Approva for Enterprise Controls Management
September 27, 2005 - Reston, VA
Approva® Corporation, the leader in continuous controls intelligence software for global enterprises, today announced that Multiquip, Inc., one of the world’s leading light- and medium-sized construction equipment suppliers, has selected the Approva BizRights® software platform.
Headquartered in Carson, Calif., Multiquip installed the BizRights Authorization Insight to manage user access to its SAP application and compliance efforts, such as segregation of duties (SOD). Additionally, Multiquip implemented Approva’s Procure-to-Pay Insight, which works in conjunction with the BizRights Platform to detect, prevent and monitor for issues and continuously report on activities in the procurement cycle.
"We initially were looking for a way to be better prepared for internal audits and were just looking at SAP authorizations," said Catherine Okano, Multiquip’s IT operations manager. "Then we started looking at Approva’s Process Insights and realized we could use it to leverage the entire package - that’s when the bells and whistles went off.
"We have a relatively small team and we need help with process controls. It’s great to automate them by setting up rules and having the system alert us - it’s a real timesaver and it’s brought us together as a team and made us more proactive. And we’re also able to document certain aspects of our processes so that we don’t have to repeat them year after year."
Founded in 1972, Multiquip has grown to become one of the largest and most diversified suppliers to the construction equipment industries. Company offices and more than 600 employees are located throughout the United States, plus Canada, Mexico, England, and Brazil.
With customers in more than 90 countries worldwide, Multiquip uses its SAP system to process thousands of invoices, receipts and other documents. Approva BizRights continuously monitors the system and ensures that potentially fraudulent or erroneous transactions are flagged for business managers. If anything unusual or exceptional happens, the appropriate personnel are notified. Rules, reports and analysis are presented in plain English, instead of confusing codes, enabling quick, informed decisions when a business exception is detected.
"We’re pleased that a global manufacturing company like Multiquip recognized the benefits of deploying the Approva BizRights platform," said Approva CEO Prashanth (PV) Boccasam. "No other platform offers our combination of rich content, independence and scalability in a business-friendly environment. BizRights is quickly becoming the de facto standard needed to strengthen controls, improve efficiency, prevent fraud, and reduce the cost of compliance."
About Approva Corporation
Approva Corporation enables large organizations to transform compliance efforts into competitive advantage. By offering unique, continuous and actionable insight into business processes, Approva software provides sustainable compliance and delivers improved control, increased profit and enhanced shareholder confidence. The patent-pending Approva BizRights® platform is the first product to allow all corporate compliance stakeholders - including business managers, auditors, and information technology specialists - to collaboratively manage controls and optimize related processes.
BizRights provides continuous, independent visibility into ERP activity, producing business-friendly reports that both business and IT managers can act upon. The software correlates user, transaction and system setting data against pre-defined and configurable rules to proactively pinpoint control violations and business exceptions. Valuable risk analysis ranks the impact of potential violations for improved prioritization. With BizRights, companies can resolve issues faster, prevent new control conflicts and create complete audit trails for change management.
Global brands such as Colgate-Palmolive, Wrigley, Pratt & Whitney and others are reducing the cost of compliance, minimizing business risk and increasing operational efficiency with Approva solutions. For more information visit us at www.approva.net.
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