FLEMINGTON, NJ--(Marketwired - Aug 20, 2013) - Greenlight Technologies, the market leader in continuous, real-time Enterprise Business Controls Monitoring software announced today that it was mentioned as a sample vendor in three recent Gartner Hype Cycle Reports: the Hype Cycle for Business Process Management, 2013, (1), the Hype Cycle for Legal and Regulatory Information Governance, 2013 (2) and the Hype Cycle for Governance, Risk and Compliance Technologies, 2013 (3).
Gartner identified Greenlight Technologies as a sample vendor for transaction operational intelligence platforms as well as for controls monitoring. According to both the Gartner Hype Cycle for Business Process Management, 2013 and the Hype Cycle for Governance, Risk and Compliance Technologies 2013 reports, "Operational intelligence platforms operationalize objectives such as reducing customer churn, expanding sales and reducing the cost of manufacturing or delivery. They help people share a common operating picture, which improves their ability to collaborate when making business decisions. They improve the quality of decisions by providing more contextual information and off-loading mathematically based business logic from people and application programs, so that decisions are better informed and more precise."
In the Hype Cycle for Legal and Regulatory Information Governance 2013 report, Gartner identified specific benefits that can be realized from transaction controls monitoring. "Transaction controls monitoring (TCM) contributes value to risk management and compliance initiatives in three ways:
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Lowering compliance costs -- A TCM solution can reduce the cost of audits by eliminating much manual sampling and minimizing the time it takes to gather documentation. When controls are automated, auditors can test the automated control, which is less labor-intensive.
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Improving financial governance -- TCM can increase the reliability of transaction controls, improve auditor trust and increase the effectiveness of anti-fraud controls. When the general computing controls are determined to be effective, auditors will consider automated controls to be lower-risk than manual controls.
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Improving financial organization operational performance -- TCM controls, such as those that monitor duplicate payments, incorrect discounts or misapplied warranties, go beyond what most people consider compliance. By preventing these violations of business rules, TCM can improve key financial processes and increase the availability of working capital."
"We believe this certainly validates the importance and value that organizations can realize by implementing an enterprise business controls monitoring solution," stated Anand Adya, CEO and Founder of Greenlight Technologies. "By using Greenlight, business stakeholders will now have the visibility into the actual financial impact of risks to the organization."