Approva Corporation - Continuous Controls Monitoring Software

What is Procure-to-Pay Insight?

Approva's Procure-to-Pay Insight continuously monitors for exceptions within your accounts payable and procurement processes to identify breakdowns and discrepancies that can result in longer processing times, higher costs and greater compliance risks. Making accurate and timely payments is complicated by the need to verify information from a variety of data sources including PO's, vendor master information, supplier invoices and inventory goods receipts. Missing or incorrect information can cause delays that impact profitability, affect vendor relationships and create compliance issues. Approva's Procure-to-Pay Insight automates audit data collection and verification and enables users to research and resolve control deficiencies in a timely manner.

Procure-to-Pay Insight Software Capabilities

Dashboards & Reporting

Drill down from graphical dashboards to detailed reports to quickly assess exceptions, identify trends and understand the impact on your business. Dashboards are easy to configure and personalize. Reports can be delivered in multiple formats including Microsoft Excel, Adobe PDF, and HTML.

Library of Best Practice Business Rules

Analyze your purchasing processes with a comprehensive set of business rules and control tests that identify breakdowns, discrepancies and potential fraud. An easy-to-use graphical interface enables users to quickly create and edit business rules.

Research & Remediation

Manage and remediate exceptions directly from the Approva user interface. Exceptions can be assigned to colleagues to resolve. Collaboration features make it easy to gather information and document the resolution plan. Interfaces provide links back to your financial and payment systems so you can access the offending invoice, purchase order or related document. All collaboration information is retained for audit.

360° View of Exceptions

Rich contextual information provides a complete picture of each exception. When exceptions are found, users can easily drill down to access additional details about the exception and see related information and documents.

Monitor Key Purchasing Documents

Monitor and analyze invoices, purchase orders, shipping & inventory receipts, payments, vendors, and materials. Users can easily tailor the Procure-to-Pay Insight to incorporate any custom changes, objects or fields used in the accounts payable process.

Proactive Notifications

Proactively alert managers via e-mail whenever inappropriate transactions occur or critical configurations change. Users can also subscribe to regularly receive reports via e-mail.

Improve Procure-to-Pay Efficiency

Identify and eliminate the most common process breakdowns by automatically monitoring for exceptions. Automated enforcement of best practices and corporate policies streamlines exception management.

Avoid Penalties and Fines

Reduce the risk of fraud through early detection of behavior indicative of bribery, theft, or collusion. With federal anti-corruption enforcement on the rise, you’ll not only reduce cash leaks but also avoid the risk of heavy penalties and fines.

Improve Control Effectiveness

Companies invest substantial resources to standardize financial processes across global operations. Automate controls monitoring to ensure your procedures and policies are being followed and exceptions are identified, remediated or mitigated with a full audit trail.

Reduce Audit Preparation Time and Costs

Dramatically reduce the time spent gathering data, reading lengthy reports for anomalies, tracking down evidence and approvals and creating documentation for your audit. Approva automatically alerts users when exceptions occur and provides the tools for remediating and documenting each exception.