Automated Information Controls Prepared for: Committee on Finance and Information Technology (CFIT) Presented By: Sumit Nijhawan [email protected]

Automated Information Controls Automated Information Controls Prepared for:Prepared for:

Committee on Finance and Information Technology Committee on Finance and Information Technology (CFIT)(CFIT)

Presented By:

Sumit Nijhawan

[email protected]

2008-09-25 © 2008 Infogix, Inc. 2

What is a Top Concern for What is a Top Concern for Financial Executives?Financial Executives?

Integrity of Information Analytical Information Access Rising IT Costs High/Rising SOX Compliance Costs

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Top Concerns for Financial Executives Top Concerns for Financial Executives

Integrity of Information Analytical Information Access Rising IT Costs High/Rising SOX Compliance Costs

Source: Technology Issues for Financial Executives

2008 Annual Survey Report

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Infogix Eliminates Information ErrorsInfogix Eliminates Information Errors

Information errors is a pervasive and universal phenomenon especially in financial processes.

Cost and impact of information errors can be small or catastrophic.

Infogix is the company that has the expertise and technology to solve this problem.

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Managing Errors and Complexity

No Controls Manual Controls Spreadsheets Programming Logic

Integrated

Application

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What We DoWhat We Do

Infogix helps you eliminate information errors

with

independent, automated, and continuous

Infogix Controls™.

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Benefits of Infogix Controls Benefits of Infogix Controls

Reduce Costs Eliminate duplicate payments Eliminate SLA penalties Eliminate billing errors

Reduce Risk Protect company brand Avoid litigation Avoid catastrophic errors

Streamline Compliance Eliminate reporting errors Reduce audit time and costs Increase controls effectiveness

Improve Processes Eliminate manual controls Eliminate rework, re-runs Standardize controls

Infogix Controls increase profits.Infogix Controls increase profits.

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Infogix Controls Can Be Used Infogix Controls Can Be Used Throughout Your EnterpriseThroughout Your Enterprise

Infogix Controls improve information intensive processes.Infogix Controls improve information intensive processes.

General Ledger Statutory Reporting SOX and Other

Compliance Efforts Electronic Payments Accounts Payable Accounts Receivable Data Warehouse/BI/CPM

Statement Generation Claims Processing Inventory Replenishment Billing Payroll Expense Management Commissions

2008-09-25 © 2008 Infogix, Inc. 9

The Infogix DifferenceThe Infogix Difference

Automated Validate all transactions instead of manual sampling

Independent Validate processes/information independent of controlled systems

Continuous Continuously available controls execute as often as needed

Verifiable Audit trail of control results ensures compliance and speeds audits

Standardized Standardize controls throughout the enterprise

Rule-based Implement and maintain controls without software developers

Non-intrusive Capture controlled information in existing formats and locations

End-to-End Validate information between applications across the enterprise

2008-09-25 © 2008 Infogix, Inc. 10

Gartner ReportGartner Report

Cool Vendors, 2008: Innovations from Around the World

Infogix is “cool” because our solution “focuses primarily on data in flight” “can be implemented in an unobtrusive manner without

changes to existing applications and databases” “enables auditing of data consistency in an independent

manner”

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How do Infogix Controls Work?

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Business processes are complex.

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The potential for information errors exists throughout the business process.

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Infogix Controls monitor, detect, and prevent information errors.

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Infogix Controls are deployed as control points.

Process A Process B Process CControl Point 1 Control Point 2

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At each control point, the Infogix Control:

Process ProcessControl Point

1. captures information,2. compares the information,3. controls the process, and4. communicates the control results.

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There are four steps to setting up an Infogix Control.

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To do that, you specify the format of the source information, how it will be accessed,

and where it is located.

First, you define the layout of the information to be captured at the control point.

1

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Infogix Controls can capture data from a wide variety of sources.

financial and

operational reports

applicationfiles and

proprietary formats

databases XML Spreadsheets EDI web

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You specify the fields of information from your sources that the

Infogix Control will capture.

Layout Layout Fields

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Infogix Controls may capture information from multiple sources.

Layout Layout Fields

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The layout definition also specifies the control fields into which the

source information is captured.

Layout Fields Control Fields

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Second, you define the comparison rules the Infogix Control will use to compare the control

fields. The rules can be simple or complex.

2

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For example, you might want to halt further processing or to execute other Infogix Controls.

3

Third, you define control actions to be performed based on the result of the

comparisons.

Record audit trail into control report.

Stop further processing of this transaction.

Execute reconciliation controls.

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Finally, you define what and how you want to communicate about the results of the execution

of the Infogix Control.

4

For example, you may want to send alerts to specific people via pager, email, exception report,

Infogix Inbox, etc.

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Let’s Look at Examples.

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Infogix Controls can automate, simplify and streamline daily or month-end financial

accounting practices. Let’s look at a simplified General Ledger Application example.

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On a daily basis, all Branch Teller Journal activity is received and tabulated based on Branch location in

different regions of the country.

On that same day, internal applications augment and centralize the information into Sub Ledgers prior to

updating the General Ledger

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Infogix Controls can automatically verify that transactions in the Teller Journal application are received and processed by the Sub Ledger and accurately posted to the General Ledger before

any month-end information is generated.

Teller Journal General LedgerSub Ledger

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Teller Journal Activity

Excel or XML File Layout

Layout Fields

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Sub Ledger Process

Sub Ledger Transaction

Capture

Sub Ledger Summary Capture

Layout Fields

Layout Fields

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General Ledger Activity

Excel or Database

Layout

Layout Fields

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Teller Activity Posting Process Control

Teller Activity Detail

Control Point 1

Sub Ledger Detail & Summary

Control Point 2Results

Control Point 3

General Ledger Summary Postings

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What about more complex processes…..


General Ledger ControlsGeneral Ledger Controls

Infogix Controls

•Balance Corporate General Ledger•Reconcile all GL Accounts to Activity Within Accounts•Reconcile General Ledger to Sub Ledgers

LOB 1

LOB 2

GeneralLedger

TrialBalance

SourceSystems

Sub Ledgers

CorporateGL

GeneralLedger

TrialBalance

•Reconcile Trial Balance to GL•Manage all Outstanding Inventory Items•Manage Production of Posting Entries

SourceSystems

Sub Ledgers


Loan Processing ControlsLoan Processing Controls

Calculated Balance

Origination

Reference Sources-Fee Tables

-Credit Cards

LoanData

GeneralLedger

MortgageProcessing

Payments and Refunds

VendorCharges

Infogix Controls

•Validate loans •Reconcile Fees to Reference Sources

•Validate Payments and Refunds •Validate Vendor Charges•Reconcile GL Posting of Loans


Inventory ControlsInventory Controls

Receiving Inventory MRP Distribution

BillingCost AccountingAccounts

Payable

General Ledger

Infogix Controls

•Account for all units from receiving to distribution•Account for all costs posted to financial systems

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Complex ProcessesComplex Processes

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Infogix Controls PlatformInfogix Controls Platform

Easy and Non-intrusive implementation leads to Easy and Non-intrusive implementation leads to business benefits in several weeks.business benefits in several weeks.

2008-09-25 © 2008 Infogix, Inc. 40

Infogix Eliminates Information ErrorsInfogix Eliminates Information Errors

Information errors is a pervasive and universal phenomenon especially in financial processes.

Cost and impact of information errors can be small or catastrophic.

Infogix is the company that has the expertise and technology to solve this problem.

2008-09-25 © 2008 Infogix, Inc. 41

The Infogix DifferenceThe Infogix Difference

Automated Validate all transactions instead of manual sampling

Independent Validate processes/information independent of controlled systems

Continuous Continuously available controls execute as often as needed

Verifiable Audit trail of control results ensures compliance and speeds audits

Standardized Standardize controls throughout the enterprise

Rule-based Implement and maintain controls without software developers

Non-intrusive Capture controlled information in existing formats and locations

End-to-End Validate information between applications across the enterprise


Discussion

Infogix, the Infogix checkmark logo, Information With Confidence and Information Integrity are registered trademarks of Infogix, Inc. Other designated phrases and product names used here are the property of their respective owners. For a list of Infogix trademarks, visit www.infogix.com/legal

Documents

Automated Information Controls Prepared for: Committee on Finance and Information Technology (CFIT) Presented By: Sumit Nijhawan [email protected]