Lawson , an affiliate with Infor, has announced the acquisition of Approva Corporation, the company that creates Continuous Controls Monitoring (CCM) software. Approva Corporation has supplied Lawson, and Infor, the CCM capabilities in their range of financial applications.
"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," says 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, organisations cannot afford mistakes. Far too many organizstions are still relying on manual processes and controls, which puts them at great risk."
Approva Corporation, are a software development company, which delivers products that directly address organisations’ governance, risk and compliance changes, helping them improve the management and plans of their business.
Approva’s CCM software will become a key element in the development of Lawson and Infor’s financial applications. CCM applications help identify and alert business users of fraud, risks, process inefficiencies, and non-compliances across a whole business.
"This combination was a perfect match to accelerate our vision and leadership in the CCM market with Lawson's and Infor's global presence," says 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."
Lawson and Infor are already working on integrating Approva’s applications into their exiting financial suites. Lawson plans to continue investing in Approva products and will continue to support interfaces with non-Lawson and non-Infor enterprise applications.