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News >> Technology >>
Bajaj selects Approva for corporate controls
By siliconindia staff writer
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Thursday, 12 May 2005, 19:30 IST
VIENNA:Approva Corporation today announced that Bajaj Auto, India's second largest manufacturer of two and three-wheel vehicles, is using BizRights software to manage enterprise controls and improve business processes.
With annual revenues over $1 billion, Bajaj Auto uses SAP system to process thousands of invoices, receipts and other documents every day. BizRights will monitor these business processes and ensure that fraudulent or erroneous transactions are flagged to business managers.
"We are very practical about using technology to improve the business," said Anil Khopkar, CIO for Bajaj Auto. "After installing a large ERP system at the heart of our operations, we recognized the obvious business benefit of being able to understand the controls and policies of the system, and to know immediately if any transactions are suspicious."
BizRights software will be used to examine vital business processes, such as the procure-to-pay cycle, by using predefined rules to monitor the company's controls and transactions, then reporting on any deficiencies in clear, jargon-free English.
"As well as informing us of any suspect transactions going through the system, Approva will also help us to view controls in the context of policy - who is allowed to do what, and under which circumstances," added Khopkar. "To us, it is a very sensible business objective to keep IT systems independent of people and to maintain definite policies across the whole organization. Approva will help us to accomplish this."
"Bajaj Auto is a great example of how monitoring controls goes beyond Sarbanes-Oxley and compliance - it's a way to improve the business," said Prashanth Boccasam, CEO of Approva. "Even without a requirement to comply with U.S. regulations, Bajaj Auto has adopted a pro-active approach to ensuring that their controls and business processes are working well. What Approva BizRights can offer Bajaj Auto is the best of both worlds: an intuitive tool that can be easily used by business owners, yet robust enough to become a trusted controls management product within the information technology group."