AA Awards 2008: Best Use of Internet - Business

Scooping the Best Use of Internet: Business award for the second year in a row is Validis.

Described as the equivalent of an electronic auditor, Validis burst onto the scene last year when it triumphed at our awards.

Operating on the Software-as-a-Service model, it runs health checks and online audits of your accounting system, catching errors, spotting anomalies and highlighting suspicious transactions.

This isn’t a product for the biggest companies in the world, instead this sophisticated technology is available to SMEs.

Despite last year’s success, owner Future Route did not rest on its laurels. Validis was tied into the hugely successful business software product Mamut at the end of 2007.

It also underwent further development over the ensuing weeks and months, allowing users to control the period of analysis they want to review, set the level of materiality by analysis area through drill-down tools.
Judges said that undertaking this kind of service over the internet ‘made sense’. They also praised the testimonials on how useful Validis was for its clients.

‘It’s a high class product for SMEs that has risen to another level,’ said one judge.

Despite the depth of its functionality the product is easy to use and runs straight off the internet. Log in and off you go. It requires little, if any, training and is designed to be accessible by non-financial users as well as experts within the finance function.

Forensic accountants RGL said Validis allows the firm to analyse accounting records quickly and automatically.

‘I consider this an important tool for accountants – it is equally applicable to our business environment of forensic accountancy as well as accountancy functions of businesses and their auditors,’ said RGL’s James Stanbury.

In rude Health

Validis and Mamut entered into a deal last November to offer the Validis technology as part of Mamut’s business platform. Users of Mamut’s software will be able to run health-checks on their accounts.

‘[The deal] gives all our customers an opportunity to validate their accounts quickly and efficiently before presenting their numbers internally to the management team, board or shareholders, or externally when reporting to government or financial institutions,’ said Mamut CEO Eilert Hanoa.