Confirmation.com Announces New Enhancements of its Online Audit Confirmation Service
BRENTWOOD, Tenn., Oct. 11, 2012 /PRNewswire/ -- Confirmation.com, the creator and world's leading provider of secure audit confirmation services, today announced some major enhancements in its latest product release that adds more functionality including a complete redesign of the auditor's platform, a new paper fulfillment service and a batch upload capability.
"We are extremely excited about this latest product release because these new enhancements reflect the suggestions and valuable feedback we received from our clients and users of our service," said Brian Fox, founder and chief marketing officer of Confirmation.com. "Improving the whole user experience is a top priority, so we completely revamped the auditor platform to simplify workflow and plan to do the same for the responder platform early next year."
Highlights of the latest Confirmation.com product release:
- Easier navigation
- Dashboard views
- Integrated help
- Updates and message boards
- Ability to upload company addresses and invoice data in bulk for AR/AP confirmations from an .xls or .csv file.
- New paper fulfillment service, which means that when an auditor sends standard Asset, Liability and Accounts Receivable/Accounts Payable (AR/AP) confirmations to out-of-network responders, Confirmation.com will handle the materials, printing, postage and shipping of those requests.
Typically, auditors created AR/AP confirmation requests using some type of mail merge functionality and sent those out to responding entities by mail, email or some other delivery method with little or no ability to track responses. Now auditors can batch upload company addresses and invoice data into Confirmation.com and the service will automatically identify which responding entity is a validated responder in the system. The auditor can then send those confirmation requests electronically to the validated responding entity.
"Even though businesses continue to move towards digital processes, most responding entities are not aware that they can respond to audit confirmation requests electronically," said Fox. "In reality it's going to take some time to transition a majority of the responding entities to Confirmation.com, and until then auditors will sometimes have to rely on paper confirmation forms for their responses. Knowing that paper confirmations are going to be with us for awhile, our new paper fulfillment service and AR/AP upload feature are two enhancements that will significantly improve how auditors manage both their paper and electronic confirmations."
For companies that are not validated responders in the Confirmation.com system, the auditor can choose to send those requests using the new paper fulfillment service or the existing out-of-network electronic offering. For those choosing the paper fulfillment option, Confirmation.com will handle the processing, printing and shipping of those confirmation requests, and even provide a mailed ship date for better tracking. As with electronic confirmations, a copy of the request will automatically go into the client control log, and auditors will be able to recall paper confirmations and set up paper confirmations for a future date.
Confirmation.com is the creator and world's leading provider of secure electronic audit confirmation services. It processes over $1 trillion in confirmation information annually for a majority of public companies, as well as private companies, non-profits and government agencies. In addition to its bank confirmation solution, the company provides solutions for more than 30 different types of audit confirmations including accounts receivable confirmations. Confirmation.com is the Preferred Provider of Electronic Confirmations for the AICPA Trusted Business Advisor™ Solutions Program and is endorsed by the American Bankers Association. Confirmation.com has also received numerous awards including being a multi-year alumnus on the Inc. 500 list for 2010 and 2011. Several hundred In-Network responding companies including all of the Top 10 banks in the U.S. and over 8,000 accounting firms in more than 100 countries trust Confirmation.com for their audit confirmation needs. For more information, visit Confirmation.com.
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Brian Fox | http://www.profnetconnect.com/brian-fox