New York, NY -- (SBWIRE) -- 10/03/2016 -- Nancy Hetrick, CEO and founder of Smarter Divorce Solutions, LLC discussed the benefits of PerfectAudit, Powered by Ocrolus. Hetrick explained the top three challenges in collecting, reviewing, and auditing financial data for divorce attorneys and auditors is the process. It has always been largely manual unless a client keeps quality QuickBooks records and is willing to share the files, which is very rare. So auditors are literally inputting transactions, one by one; the process is horribly time consuming. Additionally, the inaccuracy of human data entry is a huge concern requiring full review by another party to ensure accuracy. The typical time constraints and/or requirements to conduct a complete and accurate audit was between 4-6 weeks to complete a full forensic engagement.
Hetrick noted, "Now I can quote a week with PerfectAudit. My competitor forensic accounts are quoting 10k-40k to do a full lifestyle analysis. I can now quote the same job for about 5k. When considering the technology options, PerfectAudit is far better than anything else I found and the only one catering to my field, divorce." Hetrick added that she sees the benefits of PerfectAudit include time savings, accuracy of data, and increased competitiveness.
PerfectAudit (http://www.PerfectAudit.com), is a FinTech platform that eliminates the need to review bank and credit card statements manually. The system analyzes PDF statements from all US financial institutions allowing users to quickly and confidently make financial determinations. PerfectAudit extracts the transactions into an interactive, exportable database for the reviewer to search and analyze. All files, regardless of format and quality, are digitized with over 99% accuracy.
PerfectAudit's proprietary backend combines transaction detection OCR technology, crowd-sourced data validation, and algorithmic reconciliation. This innovative approach enables PerfectAudit to leverage machine learning, continually enhancing automation while accelerating analysis time. The PerfectAudit API will be available beginning in September and includes analytics such as average daily balance, number of days of a negative balance per month, number of interbank deposits, and number of deposits from outside sources.
PerfectAudit goes to great lengths to protect clients' private information. All files are encrypted at rest with AES-256 bit encryption, and TLS 1.2 is supported for communications. These encryption standards are recommended and used by many financial institutions as well as the federal government. User data is stored with Amazon Web Services, the same platform used by the National Security Agency and the Department of Defense. Amazon's ultra-secure facilities are monitored 24/7 by security guards and accessible only by biometric scanning. This infrastructure meets the requirements of an extensive list of global security standards, including: ISO 27001, SOC, HIPAA / HITECH, FedRAMP, and the PCI Data Security Standard. PerfectAudit guarantees the highest level of data protection.
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