Online audit confirmation enhancements offered

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Online audit confirmation enhancements offered

Confirmation.com announced some enhancements in its latest product release that adds more functionality including a complete redesign of the auditor's platform, a new print fulfillment service, and a batch upload capability.

"These new enhancements reflect the suggestions and valuable feedback we received from our clients and users of our service," says Brian Fox, founder and chief marketing officer of Confirmation.com, which has been endorsed by ABA's Corporation for American Banking subsidiary. "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 include: easier navigation; dashboard views; integrated help; and updates and message boards.

Also featured are the ability to upload company addresses and invoice data in bulk for AR/AP confirmations from an .xls or .csv file, as well as a new Print 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 toward digital processes, most responding entities are not aware that they can respond to audit confirmation requests electronically," says 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 print 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 print fulfillment service or the existing Out-of-Network electronic offering. For those choosing the Print 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.

[This article was posted on October 16, 2012, on the website of ABA Banking Journal, www.ababj.com.]

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