Protiviti has officially secured its first
patent, a significant milestone in the company's history of
innovation
The newly patented process solves for
automated audit artifact reconciliation and achieves cost-saving
benefits for SOX testing and internal audit activities
MENLO
PARK, Calif., Dec. 10,
2024 /PRNewswire/ -- Protiviti has been awarded a
patent – for Systems and Methods for Automated Audit Artifact
Reconciliation - by the U.S. Patent and Trademark Office. The newly
patented process dramatically cuts the time required to test for
unauthorized access, which is a common SOX and operational risk,
and provides organizations with greater confidence in their
controls in minutes, rather than days. This patent is a testament
to the success of the company's Global Patent Program, launched in
2022, which encourages continual innovation among employees and
furthers its goal to deliver groundbreaking solutions to
clients.
The patent is a novel and unique combination of algorithms that
execute "fuzzy matching" on names, to identify unauthorized access
from users that have been terminated, thereby expediting the
testing of controls in this key, and often problematic, area.
This flexible innovation can also be used in the assistance
of user access reviews (UARs), which can take months to execute and
are often ineffective. This solution allows users to execute
access comparisons that would have normally taken several days down
to a few minutes.
"Logical access controls are a leading SOX and operational
control failure among companies of all sizes and are time consuming
to execute. Through this patented process, we can help clients
expedite and improve the efficiency and effectiveness of processing
full populations tests to identify issues quickly," said
Jeremy Wildhaber, Senior Director,
IAFA Technology Enablement at Protiviti. "This patent is not just
about the recognition of our current capabilities but also about
paving the way for future innovations at Protiviti."
"The patented technology solves a critical pain point for our
clients and also reinforces Protiviti's standing as a leader in
cutting-edge technological advancements that address real-world
challenges," said Andrew
Struthers-Kennedy, global lead for the Internal Audit and
Financial Advisory practice at Protiviti.
"We are committed to delivering innovative solutions for
clients," said Ashley Cuevas, global
lead, Innovation at Protiviti. "Key to that is the Protiviti Patent
Program, which we formed in 2022 to facilitate the development and
protection of our people's innovative ideas."
The patented solution is a component of several dozen
accelerators that exist in Protiviti's Technology Accelerator
Platform, which brings market-leading packaged automation,
analytics and AI-enabled solutions to address common challenges in
Internal Audit and SOX.
About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that
delivers deep expertise, objective insights, a tailored approach
and unparalleled collaboration to help leaders confidently face the
future. Protiviti and its independent and locally owned member
firms provide clients with consulting and managed solutions in
finance, technology, operations, data, digital, legal, HR, risk and
internal audit through a network of more than 90 offices in over 25
countries.
Named to the Fortune 100 Best Companies to Work
For® list for the 10th consecutive year,
Protiviti has served more than 80 percent
of Fortune 100 and nearly 80 percent of Fortune
500 companies. The firm also works with government agencies and
smaller, growing companies, including those looking to go public.
Protiviti is a wholly owned subsidiary of Robert
Half (NYSE: RHI).
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SOURCE Protiviti