TechnologyAA Awards 2008: Best Use of Internet – Business

AA Awards 2008: Best Use of Internet - Business

Mamut/ Validis wins 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.

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