ACL Services Recognized in Leading Analyst Firm`s Magic Quadrant for Continuous Controls Monitoring
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VANCOUVER, British Columbia--(Business Wire)-- ACL Services Ltd., the leading global provider of business assurance technology for audit and compliance professionals, today announced it has been included by Gartner, Inc. in the first-ever `Magic Quadrant for Continuous Controls Monitoring.`1 ACL was evaluated on its ability to execute and the completeness of its vision. In Gartner's inaugural Magic Quadrant report, analysts French Caldwell and Paul E. Proctor emphasize the value of continuous controls monitoring technology: "Within the governance, risk and compliance (GRC) marketplace, continuous controls monitoring (CCM) is a set of technologies that assist the business in reducing business losses from fraud or failure to follow rules governing financial transactions, and improving performance through continuous monitoring (CM) and reducing the cost of auditing through continuous audit (CA) of the automated controls in ERP systems or other financial applications."2 The overall continuous controls monitoring technology space defined by Gartner in the report includes four areas: 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). For over 20 years, ACL has provided purpose-built data analysis solutions to audit and compliance professionals. Today, ACL is the leading audit analytics technology, used by over 14,000 organizations worldwide. "We were first to market with continuous controls monitoring for transactions back in 2003," says Harald Will, ACL Services president and CEO. "Over the last seven years, hundreds of ACL customers have deployed CCM-T solutions, most often championed by Internal Audit leaders as a means to provide greater insight into the quality and transparency of business transactions. We are pleased to see Gartner now focus on the growing CCM technology space, and to be positioned as a niche player. We believe this placement acknowledges our global leadership position in audit-led transactional analysis." Rutgers University Business School recently profiled ACL CCM-T customer Talecris Biotherapeutics in a research study, "Continuous Controls Monitoring: A Case Study with Talecris." "Talecris demonstrated that the close examination of business transactions underlying financial reporting uncovers unforeseen risks and potential control breaches," said Miklos A. Vasarhelyi, PhD, director of research at the CarLab (Continuous Audit and Reporting Laboratory) of the Rutgers Accounting Research Center. "Talecris' successful implementation of continuous controls monitoring from ACL is an excellent example of how audit technology can deliver critical insight that helps organizations mitigate risks, optimize business operations and assure compliance in today's real-time economy." A growing number of ACL customers are implementing continuous monitoring across various industries, including financial services (First Hawaiian Bank, Siemens Financial Services, Inc.), healthcare (Memorial Healthcare System, Palomar Pomerado Health), transportation (Hawaiian Airlines), business services (Dun & Bradstreet), government (BC Government Ministry of Finance), telecommunications (TELUS), and manufacturing (Talecris Biotherapeutics Inc.). "To date, ACL's audit customers have been the pioneers and leading champions for the introduction of continuous controls monitoring within their organizations," says John Verver, CA, CMC, CISA, vice president of services and product strategy at ACL Services. "It's the most effective way I know to allow management to react quickly to problems as well as monitor the overall quality of their internal controls." For more about ACL continuous monitoring solutions, go to: www.acl.com/CCM 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 ACL Services Ltd. ACL Services Ltd. is the leading global provider of business assurance technology for audit and compliance professionals. Combining market-leading audit analytics software with centralized content management and exception reporting, ACL technology provides a complete end-to-end business assurance platform that is flexible and scalable to meet the needs of any organization. Since 1987, ACL technology has helped organizations reduce risk, detect fraud, enhance profitability, and improve business performance. ACL delivers its solutions to 14,000 organizations in over 150 countries through a global network of ACL offices and channel partners. Our customers include 95 percent of Fortune 100 companies, 85 percent of the Fortune 500 and over two-thirds of the Global 500, as well as hundreds of national, state, and local governments, and the Big Four public accounting firms. www.acl.com Visit the ACL Blog to read the latest issues and insights on business assurance, compliance & risk, fraud detection, and internal audit: www.acl.com/Blog Copyright 2010 ACL Services Ltd. ACL and the ACL logo are trademarks or registered trademarks of ACL Services Ltd. All other trademarks are the property of their respective owners. 1 Gartner, "Magic Quadrant for Continuous Controls Monitoring" by French Caldwell, Paul E. Proctor, March 23, 2010 2 Gartner, "Magic Quadrant for Continuous Controls Monitoring" by French Caldwell, Paul E. Proctor, March 23, 2010 ACL Services Ltd. Carri Toivanen, Corporate Marketing, +1-604-974-1430 carri_toivanen@acl.com Copyright Business Wire 2010
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