Deal delivers industry-leading governance, risk and compliance capabilities to Lawson and Infor financial applications
Acquired technology focuses on reducing risk, improving audit efficiency and readiness, and managing complex financial rules
Lawson Software Americas, Inc., an Infor affiliate, today announced it has acquired Approva® Corporation, the company that created continuous controls monitoring (CCM) software. Approva products bring industry-leading CCM capabilities to the financial applications offered by Lawson and Infor. Terms of the transaction were not disclosed. The deal closed Sept. 1, 2011.
Approva delivers products that directly address organizations’ governance, risk and compliance challenges, helping them improve the way they run, plan and control their businesses. Approva’s CCM applications will become a key element of the financial applications currently offered through Lawson and Infor. The CCM applications automatically monitor key control points across an enterprise and alert business users to fraud, risks, process inefficiencies, and non-compliance. Approva delivers the only CCM product that independently monitors multiple controls across multiple applications; serves finance, audit and IT functions within one CCM platform; and provides rich business context to help clients quickly reduce and mitigate risk.
“Within the last decade, bad business practices, coupled with inadequate processes and controls, have brought down high-profile companies virtually overnight. Approva created a new category of software with its continuous controls monitoring applications to directly address these issues and has proven to be a leader in this market,” said Stephan Scholl, chief executive officer, Lawson. “By adding this CCM capability to the Lawson financial applications, our customers will have new tools to help them quickly identify inconsistencies or broken processes and address them right away. And, with increasing scrutiny and governance challenges, organizations cannot afford mistakes. Far too many organizations are still relying on manual processes and controls, which puts them at great risk.”
Lawson and Infor are already working to integrate Approva’s applications into the existing financial suites offered by both companies. Infor ION middleware simplifies the integration of multiple applications into a single platform. Lawson plans continued investment in the Approva products, particularly looking at industry-specific functionality for customers. In addition, Lawson will continue to support interfaces with non-Lawson and non-Infor enterprise applications.
“This combination was a perfect match to accelerate our vision and leadership in the CCM market with Lawson’s and Infor’s global presence,” said John Becker, Approva’s chief executive officer. “As part of a larger organization, we will have greater resources to further develop our award winning products, reach a much broader customer base and support the requirements of our global customers. The governance and reporting requirements on our customers and prospects are only going to get more complex, and we’ll be well-positioned to help even more organizations operate more effectively, efficiently and in compliance with a wide range of requirements.”
About Approva Corporation
Approva® Corporation is the industry-leading provider of continuous controls monitoring software and is the industry standard at Big-4 audit firms. Approva enables business, finance, IT and audit professionals to identify, manage and prevent business exceptions in order to reduce risk, increase operational efficiency and prevent inappropriate payments.