Any ERP system is great at running each business processes separately (a single ERP can manage thousands of business processes). However, ERP is unable to handle and monitor a single transaction that consists of multiple business processes. If for example, a user with a given access rights overrides system policies or rules for personal gain, your ERP won’t be aware of any wrongdoing. Most of the frauds cannot be caught by an ERP, as well as, system’s bugs and errors.
In addition to ERP usage, organizations employ controllers and Internal Auditors that use different tools to automate their control process and to manage risks. Watchdog Solutions™ comes in to assist and empower Controllers and Internal Auditors by monitoring value streams, which crosses multiple systems, applications, and databases.
Watchdog Solutions™ is a novel technology makes your control system substantially better by eliminating financial risks rather than managing them.
Any process based technology that runs and coordinates a business process is presented with a continuous explicitly described workflow model. Today, a process that involves execution of different IT systems cannot be managed by one system. The workflow of the entire process is “broken”, into several separate workflows and a “gateway” between different workflows that usually cannot be explicitly described. An example of this would be, procurement-to-payment workflows, a PO preparation and AP invoice processing that sets out the workflow of a supplier that eventually provides the mentioned AP invoice to the buyer. The buyer is not aware of supplier’s workflow, has no access to it, and is, therefore, no system can be built within workflow concept to monitor a single data across the entire (multiple) processes. Moreover, the workflow transaction involves only one input (i.e.one invoice) to process, while an entire business transaction involves multiple inputs (invoices, delivery notes, payments, ACH transmit, etc...) arriving at different points of time for the same workflow. In other words, many invoice processing transactions should be correlated with the initial PO preparation transaction and so on.
Our technology monitors 100% of your raw business data, like order, invoice, shipment data, delivery note and payment that different systems or business processes provide. Then, we correlate this data to a holistic transaction, like customer or supplier deal, and identify any data inconsistency within the context of an individual instance of a value stream. Any detected exception can have one of the following root causes: data entry error, system error, broken procedure, process bypass, system policy breach or staff/supplier/merchant/customer fraud. No inconsistency is missed with our technology.
Start with our Free Trial on historical transaction data and ask for Watchdog Vulnerability Audits™!
We ask for historical data that is dumped into flat files , such as POs, invoices, and payments or sales orders, delivery notes, invoices, returns, and receipts. For this purpose, you would use the script downloaded from our website. If the script is not available, then you would also provide us with the data mapping table. Then we provide you with the results of historical data run and analysis, as a short report with some examples of exceptions.
Now you can decide whether to purchase Watchdog Vulnerability Audits™ services for continuous auditing of historical data or/and purchase Watchdog Patrol™ services for real-time monitoring of your value streams.
When subscribing to Watchdog Patrol™ services, you will be asked to install compatible adaptor to our systems that will send XML messages to our Engine. Then, you will contact us and choose the adaptors according to your data source types.
The data that is taken from an organization represents a very small subset of the value stream data. Furthermore, we ask for numerical data with no names, any names can be omitted and not used. As to credit cards we ask for last four digits of credit cards numbers. As Any data that is hosted on the ARM, web client is delivered via a secure connection.
Our product can be recognized as Continuous Controls Monitoring for Transactions (CCM-T). Unlike the traditional approach, we control an Enterprise value stream that operates in heterogeneous ERP or financial application environments. Watchdog Solutions™ are different because they monitor business process based solely on transactional data. Also, it doesn’t rely on business application’s policies and controls.
Watchdog Solutions™ extend the technological ability to reduce operational risks and prevent money leaks rather than responding to Sarbanes-Oxley Act (SOX) compliance rules only. With our solution, you may intercepts risks for frauds, human and system errors, in real time.
Watchdog Solutions™ do not monitor database transactions like inserting, deleting and updating the data. We do not monitor SQL transactions, as either. Unlike Watchdog Solutions™, database security products correlate the database transactions to a person, time, etc. for auditing “who, what, when, where, and how”.
Security Information and Event Management products are based on intrusion detection events (IDS/IPS), unlike Watchdog Solutions™ that monitors transaction data and detect inconsistencies in transaction data . For example, the SIEM products correlate system login events to a pattern of incident identification alerts, while Watchdog Solutions™ correlate the data to an instance of an Enterprise value stream.
Watchdog Solutions™ monitors business value streams. The database and log transactions are short running IT transactions. The above mentioned short running transactions are measured in seconds or milliseconds. An Enterprise value stream is measured in hours, days or even years. One value stream may consist of many short running transactions. It may also include workflow transactions. A product that monitors short running and workflow transactions usually cannot monitor an entire transaction across disparate systems and business processes. In contrast, Watchdog Solutions™ put process context into a short (IT) transaction’s event analysis.