ACL Announces 15th Annual Impact Award Winners, Recognizing the World's Most Innovative Risk, Compliance, Finance and Audit Professionals Phillips 66 to be Honored at ACL Connections 2013 Conference with Grand Prize for Using ACL Technology to Achieve 500% Increase in Productivity
VANCOUVER, British Columbia, April 18, 2013 /PRNewswire/ -- ACL, the company that is transforming audit and risk, today announced its 15th Annual Impact Award Winners. This premier technology award for audit, finance, compliance and risk professionals celebrates the outstanding achievements of customers that have made a significant, positive impact on business processes and operations through the use of ACL technology. The winners, comprised of 10 companies around the globe spanning various industries, include The Coca Cola Company, the Public Services Management Department of Zambia, the Office of the Comptroller of Puerto Rico, and Grand Prize winner, Phillips 66 (NYSE: PSX), which is one of the world's largest oil and gas refining companies.
Fortune 500 company Phillips 66 used ACL data analytics technology to create an Employee Expense Report Monitoring System for its team of approximately 14,000 employees worldwide, establishing a continuous auditing process to identify travel and procurement policy violations, mistakes and instances of fraud before such abuse could negatively impact the business. The system identifies anomalies such as company credit card purchases that occurred when an employee was absent from work, purchases made with suspicious merchants, transactions by former employees, and cash advances that were not fully expensed. Monthly reports showing violations of policy, which can now be produced for management, are used by the Compliance, Global Security, Audit and Controllers departments.
"As a direct result of the implementation of this new system, over US$3 million of transactions were identified as having some violation of policy," said Richard Twilley, Analyst, Commercial Card Services at Phillips 66. "We've experienced a 50% increase in accuracy, 1000% increase in efficiency, and a 500% increase in productivity."
"It's amazing to see the innovative ways in which audit, finance, compliance and risk professionals are integrating ACL's solutions to positively impact their organizations," said Laurie Schultz, President and CEO of ACL. "We want to thank all who entered, as your stories have truly been inspiring."
This year's ACL Impact Award winners are:
- Grand Prize Winner: Richard Twilley, Phillips 66
- Regional Award, North America: Sean Pinto, The Coca Cola Company
- Regional Award, Latin America and Caribbean: Francisco Ortiz, Office of the Comptroller of Puerto Rico
- Regional Award, Asia: Glen Laslett, Metcash Trading Limited
- Regional Award, Europe, Middle East and Africa: Siame Matthews, Public Services Management Department of Zambia
- Best Use of Analytics: Desolyn Foy and Christina Ervin, Harris Health Systems
- Best Use of Audit Management Technology: Lisa Traina, Traina and Associates
- Best Application of Continuous Auditing or Monitoring: Enrique Vazquez Escobar, Nacional Monte de Piedad IAP
- Most Promising New User: Eduardo Staino, Construtora Andrade Gutierrez SA
- Most Innovative Use: Michel Picinin, Suzano Papel e Celulose SA
The Impact Awards winners will be honored at the annual customer conference, ACL Connections 2013, taking place April 28–30 at the Hyatt Regency in Atlanta, Georgia. Harald Will, Executive Chair, Board of ACL will present the awards during a luncheon ceremony on Tuesday, April 30.
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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.
© 2013 ACL Services Ltd. ACL and the ACL logo are registered trademarks of ACL Services Ltd. All other company and product names are trademarks of their respective owners.