SUNNYVALE, Calif.--Taking the accounting solution industry’s boldest stand to date on offering a packaged audit-ready financials fix for curtailing fraud or honest mistakes, Corefino CEO Karen Watts challenged corporate boards, and Chief Financial Officers in particular, to review improved frameworks for cutting down on the rampant fraud tied to financials preparation.
Armed with David Callahan’s Best Selling Book, “The Cheater’s Culture: Why More Americans are Doing Wrong to Get Ahead,” Watts says that current accounting solutions are clearly vulnerable.
“It’s not the fault of CFOs and the executive team – they have been given little choice to date, and the big ERP giants have locked them into expensive, insular technologies with ongoing spends and without assured controls. Once you capitalize millions paying for onsite software installations, then months training your corporate employees on these systems, you end up pretty much stuck with both,” Watts said. “This traditional accounting approach is ridiculously expensive and does not provide sufficient controls. The faster CFOs patch this hole in the financial controls and their pocketbooks, the better off they will be,” she said
Corefino’s ‘triple play’ internet accounting solution alternatively provides an off-premise; audit-ready financials solution with a comprehensive Best Practices outsourced approach – similar to the heavily-adopted outsourced payroll solutions now in general practice. Operating as a value-added-reseller of proven Software-as-a- Service, SaaS accounting software solutions, and deploying its own custom accounting team in a scalable, factory process style and modular approach, Corefino gives would-be cheaters no place to hide.
“I feel very comfortable saying that while determined cheaters are geniuses at hiding, our Corefino customer CFOs sleep a lot better at night,” Watts said. “When you have an independent, external team compiling financials that has no vested interest and no opportunity to profit from the numbers reading one way or the other – it greatly eliminates the motivation to cheat.”
The Corefino Triple-C Platform™ is a collection of more than 500 Best Practices and business processes that have been built out over a four-year period and are continually updated/improved. Corefino’s three-part solution is available on a monthly subscription basis, and the company handles all of the technology, data integration and ongoing compliancy change needs.
(source: DonPanek, http://www.erpdirectory.com/)
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