Industries We Serve

Financial services organizations face a highly competitive business environment with stringent standards stemming from legislation such as the USA PATRIOT Act, Basel II, and the Sarbanes-Oxley Act. There is a critical need to implement technology solutions to enable auditors and finance managers to support compliance in a sustainable manner, detect fraud, identify suspicious transactions indicating potential money-laundering schemes, and effectively audit areas of operational and credit risk.

EDP has worked with a good number of leading financial institutions in Nigeria and West Africa helping them support regulatory compliance, reduce risk, and enhance profitability. Thus, they have benefited immensely from our training, consulting and advisory services which greatly improved their bottom-line. Call us today to learn more about how ACL technology solutions and our security assurance solutions can be used to:

• Identify suspicious transactions
• Investigate potential money-laundering activities
• Audit operational and credit risk
• Analyze loan portfolios
• Manage fixed assets more effectively
• Support regulatory compliance
• IT Audit Security review and assurance.

CPA, consulting, and auditing firms of all sizes – from the Big 4 to niche service providers – are looking to expand and deepen their client relationships, increase market share, and grow revenues… all under the increased scrutiny of a heightened regulatory environment.

Key to achieving these objectives is realizing productivity gains that can translate into lower costs for both the firm and its clients.

When performing client engagements, auditors and professional services staff must frequently deal with multiple data sources and application platforms. Sophisticated data analysis and access tools are critical to completing the task efficiently. ACL’s technology solutions can help firms streamline audit processes, while reducing duplication, detecting errors and fraud, and minimizing losses on behalf of the clients. As a result, clients receive the benefit of a more comprehensive and accurate level of service, while the firm realizes improvements to its own bottom line resulting from increased productivity.

Contact us today to learn more about how ACL technology solutions can be used to:

• Increase efficiency to reduce hours necessary to complete external audit
• Verify accuracy of a client’s AP files
• Detect fraud
• Assess effectiveness of client’s internal controls

Universities and colleges today are faced with shrinking budgets, fewer resources, and the need to demonstrate accountability for every Naira/Dollar spent. In addition, institutions of higher education are carefully considering how issues of governance and accountability highlighted by legislation such as the Sarbanes-Oxley Act and local regulations should be considered within their environment. This is emphasizing the need for strong, independent internal auditing, regulatory compliance, and risk management within these organizations.

ACL solutions have enabled educational institutions around the world to improve the effectiveness of their internal controls, contain costs, and support compliance with regulatory requirements.

Contact us today to learn more about how ACL technology solutions can be used to:

• Identify potential grant compliance issues before the government agencies or other grantors
• Detect tuition billing errors while there is still time for remediation
• Enhance oversight and controls monitoring of procurement-card programs
• Analyze vendor contracts to avoid overpayments and missed discounts

Government agencies are responsible for managing and monitoring the disbursement of billions of dollars of public funds. With demands for increased transparency and accountability, shrinking budgets, and pressure for improved delivery of public services, the need to implement technology solutions that support financial management and audit processes within the public sector is more critical now than ever.

Proven ACL audit analytics technology can play a key role in providing increased visibility into the effectiveness of internal controls, reducing exposure to financial and operational risks, and detecting and preventing fraud, waste, and abuse.

We have worked with leading government agencies in Nigeria to assist government auditors and financial managers in analyzing vast amounts of data with speed and efficiency, enabling quick identification of areas of high risk, while saving time, effort and money.

Contact us today to learn more about how ACL technology solutions can be used to:

• Test and verify expenditures
• Increase procurement-card program efficiencies and monitor the use of p-cards
• Support grants and tax compliance
• Identify errors in social services and healthcare services claims and billings
• Detect and prevent fraud.

Given the constant changes in the healthcare environment and growing complexity of regulations relating to electronic health transactions and information exchange, the need for effective compliance programs is more critical now than ever. While the introduction of best practice regulatory requirements such as the U.S. Health Insurance Portability and Accountability Act (HIPAA) and Sarbanes-Oxley legislation and other local regulations have brought to the forefront the need for better controls systems and processes, healthcare organizations also face ongoing challenges in containing rising costs and improving operational efficiencies.

Galvanize’ (ACL’s) powerful solutions allow healthcare organizations to quickly and easily access, compare, and independently check transactions from multiple application systems against control parameters, business rules, and historical data trends to identify errors, fraud and inefficiencies.

Contact us today to learn more about how ACL technology solutions can be used to:

• Analyze provider claims history and identify indicators of over-utilization
• Identify invalid or high-currency charges and incompatible coding
• Match laboratory procedure codes to appropriate billed charges
• Test for duplicate patient billings and claim payments
• Review and revenue assurance around in-patient and out-patient cases.

While global economic conditions greatly impact the manufacturing sector, successful companies have linked expectations of top-line revenue growth with the need to maintain tight controls on spending—finding creative ways to do more with less. And with expanding regulatory requirements, manufacturing organizations must comply with increasingly stringent financial reporting and governance standards.

The manufacturing sector is particularly concerned with ensuring that supply chain and inventory control management are efficient, cost-effective, and support the delivery of quality and value to customers. With complex supplier relationships, there is a critical need for effective, ongoing monitoring and improvements to pricing, delivery and payment processes.

Similarly, management of inventory levels, verification of shipments received and transferred to manufacturing facilities, and accurate calculation and payment of payroll and related workforce expenses demand an equivalent rigor to ensure transactions are independently verified against key control points within these business functions.

Contact us today to learn more about how ACL technology solutions can be used to:

• Conduct comprehensive reviews of key inventory controls
• Identify errors, fraud, and inefficiencies within the purchase-to-pay cycle
• Minimize financial risks of salary and payroll errors
• Perform comprehensive vendor audits to enable timely, cost-effective recovery of overpayments
• Analyze enterprise applications to verify proper segregation of duties
• Support compliance with regulations.

The utilities, telecommunications, and transportation sectors face complex issues, which evolve rapidly as companies pursue new models of value creation. They are particularly impacted by regulatory compliance requirements as a result of new and ongoing legislation, consumer protection mandates, service quality expectations, and increased competition. Companies in these sectors face harsh fines and reputation damage for breach of industry-specific and other legislative requirements, including regulations governing competition, environmental practices, and those geared to higher standards of corporate governance and fiscal transparency—including the U.S. Sarbanes-Oxley Act.

We have worked with leading telecommunication organizations in Nigeria to respond to these business challenges. Powerful ACL technology can be used to uncover anomalies and isolate errors within the transactional data underlying business processes and financial reporting. The results: comprehensive insight into control weaknesses and potential business risks, enabling sound decisions and faster response to organizational, market, and regulatory changes.

Contact us today to learn more about how Galvanize (ACL) technology solutions can be used to:

• Support regulatory compliance
• Improve controls environments
• Reduce costs and improve risk management
• Identify areas of potential revenue leakage
• Increase audit efficiency and effectiveness
• Detect and prevent fraud
• Minimize financial risks of salary and payroll errors.

As retail organizations seek to drive revenues through increased sales, they also face bottom-line pressure to maintain margins in the face of intense competition. In this context, the ability to limit inventory shrinkage—due to theft, fraud, or administrative error—becomes critical to minimizing losses and enhancing profitability.

Ongoing retail cash management issues such as procurement card fraud, duplicate payments, missed discounts, and purchase order errors directly affect bottom-line results. Retail organizations need to assure the effectiveness of internal controls, to identify potential revenue leakage and employee or vendor fraud, and improve business process efficiencies.

A systematic implementation of ACL technology can help retail organizations establish a comprehensive continuous monitoring and auditing program to monitor the effectiveness of internal controls environment, resulting in fast payback and significant improvements to the bottom line.

Contact us today to learn more about how Galvanize (ACL) technology solutions can be used to:

• Detect and prevent fraud
• Build or complement an existing loss prevention program
• Uncover opportunities to negotiate better supplier discounts
• Support vendor allowance and rebate management
• Improve inventory control
• Streamline analysis of sales results—by branch or region, sales representative, or line of business
• Support regulatory compliance.