New York-based agency Marcum has launched a brand new knowledge analytics product for audits by means of Marcum Know-how, the agency’s know-how arm. Clever Prism is an automatic knowledge analytics service for corporations that don’t have inner knowledge analytics capabilities.
Clever Prism automates consumer knowledge consumption and evaluation with the intention of accelerating audit high quality, effectivity and profitability. Utilizing robotic course of automation and different applied sciences, Clever Prism processes and standardizes giant volumes of information to provide clear, consumable knowledge units.
The concept is for accountants to maneuver away from utilizing SALY (similar as final 12 months) knowledge, giving them entry to up-to-date, usable consumer knowledge.
“Historically, auditors have confronted the fixed problem of working with knowledge in no matter format they obtain from shoppers,” mentioned Peter Scavuzzo, a Marcum companion and CEO of Marcum Know-how, in a press release. “Manually sorting and analyzing knowledge is just not solely inefficient, it diverts auditor expertise from higher-value strategic providers. By automating and streamlining the method of information consumption and evaluation, Clever Prism helps decision-making and permits corporations to raised capitalize on their professionals’ strategic strengths.”
Options of Clever Prism embody:
- Normal ledger evaluation and completeness testing;
- Journal entry testing with custom-made transactional scoring;
- AR and AP ageing;
- Stock acquisition cost-to-sale worth;
- Depreciation recalculation;
- Funding worth testing and categorization;
- Vendor-to-employee approximate comparisons;
- Sampling (random, stratified, financial unit sampling or by attribute);
- Summarization by one or a number of attributes;
- Knowledge extraction primarily based on user-provided standards; and
- PDF-to-Excel conversion and formatting to the agency’s specs;
For extra data, e mail hey@marcumtechnology.com.