VANCOUVER, British Columbia,
Oct. 11, 2012 /PRNewswire/ -- ACL, the technology company
that is transforming audit and risk management, announced today
that Fortegra Financial Corporation (NYSE: FRF) has implemented
ACL™ Workpapers to manage company-wide audit workflow. As a result,
Fortegra has been able to increase its audit process efficiencies
by 25 to 30 percent, generate external audit cost savings, and
improve internal communications by automating time-consuming
administrative functions.
Fortegra, an insurance services company that provides
distribution and administration services and insurance related
products to insurance companies, brokers, agents, and other
financial services companies in the U.S., faced several challenges
as it transitioned from a private to publicly-traded company. Its
newly established internal audit department struggled with hosting
all work on a shared drive, which had become unmanageable.
Fortegra was in need of a flexible system that could support
Sarbanes-Oxley (SOX) compliance and enterprise risk management
(ERM), while also allowing for collaboration with various business
units and external auditors. Implementation of on-premise
server-based solutions were deemed too complex and cost
prohibitive, leading Fortegra to ACL Workpapers.
"An initial public offering is a major undertaking for audit and
risk teams," said Laurie Schultz,
President and CEO of ACL. "Our technology and expertise
gives organizations unprecedented control over their business,
which removes a layer of concern and provides peace of mind going
forward."
The easy-to-use workflow of ACL Workpapers allowed Fortegra to
upload its existing SOX work and audit plans, organize workflow,
and manage its ERM program.
"We were half-way through our SOX compliance process and it was
an administrative burden," explained Laura Bartz, CPA, Internal Audit Manager at
Fortegra. "ACL Workpapers offered us a simple, centralized,
and secure audit management system that immediately helped us
become more productive. Within a week, we were up and running."
"ACL Workpapers has increased our organizational efficiencies by
helping us communicate and collaborate better with our business
unit leaders," explained Emily
Rhodin, CPA, CRMA, Vice President Internal Audit & SOX
Compliance for Fortegra. "We are now able to determine
our status and generate findings reports easily, which allows us to
communicate timing and results to our business leaders and external
auditors immediately upon request, and to compile their comments in
an organized way."
To read the full case study, visit www.acl.com/fortegra.
About ACL
ACL delivers technology solutions that are transforming audit
and risk management. Through a combination of software and expert
content, ACL enables powerful internal controls that identify and
mitigate risk, protect profits, and accelerate performance.
Driven by a desire to expand the horizons of audit and risk
management so they can deliver greater strategic business value, we
develop and advocate technology that strengthens results,
simplifies adoption, and improves usability. ACL's integrated
family of products—including our cloud‐based audit and compliance
management solution and flagship data analytics products—combine
all vital components of audit and risk, and are used seamlessly at
all levels of the organization, from the C‐suite to front line
audit and risk professionals and the business managers they
interface with. Enhanced reporting and dashboards provide
transparency and business context that allows organizations to
focus on what matters.
And, thanks to 25 years of experience and our consultative
approach, we ensure fast, effective implementation, so customers
realize concrete business results fast at low risk. Our actively
engaged community of more than 14,000 customers around the
globe—including 89% of the Fortune 500—tells our story best. Here
are just a few. Visit us online at www.acl.com.
SOURCE ACL