ING DiBA Honored with Prestigious Audit Innovation Award

Online, March 30, 2011 (Newswire.com) - Pallas Athena, a global Business Process Management and Software Solutions vendor, today announced that its customer ING DiBa has been awarded for results achieved by implementing ReflectOne Audit Software.

The Audit Innovation Award recognizes outstanding innovations impacting Internal Audit methods and achievements. Winners were selected by a panel of 50 Internal Audit Executives. Pallas Athena´s Customer ING DiBa was honored at a festive Award Ceremony of the prestigious Frankfurt School of Finance Audit Innovation Award in Frankfurt on March 29th, 2011.

"We are honored to have received the Audit Challenge Award because it symbolizes an achievement of higher efficiency, quality, and effectiveness within our Internal Audit department, says Volker Panreck, Head of Audit Services, ING DiBa. We are very happy to have implemented ReflectOne within our Internal Auditing process. It helps us identify and discover specific issues and risks in the processes in a very simple and effective way."

Top 5 Evaluation Criteria for the prestigious Audit Innovation Award have been stage of innovation, impact on strategy and effectiveness, degree of efficiency, value and benefits, easiness to implement.

"We are honored to ING DiBa being awarded for the groundbreaking use of ReflectOne. We see the award as another proof point for the potential which comes with ReflectOne for Internal Audit functions. We can see that ReflectOne Audit will be a world standard software product for Internal Audits", says Tobias Rother, CMO at Pallas Athena.

Pallas Athena's ReflectOne Audit Software Solution is tailored to the Audit Industry needs. ReflectOne uses a Process Mining technique that can analyze an organizations "as is" processes and control structures automatically. Massive volumes of data, and not just sample cases in processes, can be analyzed within seconds. ReflectOne increases the effectiveness and efficiency in any process audit. ReflectOne Audit can create process animations, identify exceptions, check process validities and creates 100 % confirmation for an exact audit.