Features
Discover the many ways our product’s unique features help you solve problems – and grow your value to your clients.
Automated Sampling & Testing
Save time and improve quality
Auditors rely on techniques such as sampling to gain assurance over financial statements. Calculating and selecting samples is highly manual and time consuming. Automating the end-to-end process saves time and enhances quality.
Reassuringly consistent
Whether selecting material transactions or guaranteeing random selection, Inflo executes your methodology consistently and correctly every time.
Configured to your firm’s methodology
Inflo incorporates your firm’s methodology, allowing teams to generate compliant samples through a handful of easy steps. This ensures consistent execution and allows samples to be selected in advance of on-site investigation.
Automated Workpaper Generation
Automated reperformance
Many accounting services require accountants to document their work in line with reperformance standards. Capturing the work performed and documenting it in an organised and user-friendly format takes significant time. Inflosaves you time by automating this process.
Comprehensive documentation
Inflo makes preparing consistent, compliant and easy-to-review working papers a matter of a few mouse-clicks. Inflo generates appropriate testing templates to match the nature of the work being performed and prompts users to document their decisions at relevant points throughout the testing process.
Free staff from tedious documentation
The embedded audit trail captures every action performed in the system, meaning that teams can spend more time focusing on analysis and interpretation rather than mundane documentation. Reviewers obtain a consistent deliverable that allows them to immediately identify the key issues during testing.
Business Process Mining
Discover if every transaction follows your process
You know how a business process has been designed, perhaps even tested the controls in place to enforce that process. But how could you know if every accounting transaction followed this process? Before you couldn’t, but now you can with Inflo’s business process mining.
100% of transactions
No stone goes unturned. Inflo analyses every single transaction in a business process, mapping the accounting combination to show which conform with expectations and which demonstrate unusual behaviour. You can focus your attention and spend less time looking at standard transactions.
Advanced visualisations
Inflo presents potentially thousands of relationships across millions of transactions in a format which is instantly understandable.
Supported by InfloHI
InfloHI analyses accounting entry characteristics and decisions made upstream in Inflo to automatically map general ledger accounts to business processes.
Continuous Auditing & Compliance
Attractive for you and your client
The advisory profession has been discussing continuous auditing and compliance for decades. In reality, however, clients have not found the value to be compelling, nor have advisory firms found the cost of delivery to be attractive. Inflo solves both the value and cost of delivery issues, allowing you to work in new ways with clients.
Seamless data ingestion
With clients familiar with Inflo’s data ingestion process, initiating continuous services becomes a part of month end close for client finance teams.
A compelling proposition
Clients receive so much value from Inflo they are actively requesting outputs more routinely during the year. Whether fraud, business process, or KPI benchmarking, Inflo’s outputs combined with your interpretation provide a valuable client deliverable.
Smoothing busy-season peaks
Working with clients in this way allows certain compliance activities to be performed throughout the year. Whether conducting audit tests, or analytical reviews to identify issues early, this reduces the busy-season pain, freeing you to focus on the key year-end issue or adding value.
Data Ingestion
Access to 100% of transactions from 100% of accounting systems.
To provide deep insights into your client’s finances, you need access to disaggregated financial data you can analyse. Obtaining this data from the variety of accounting systems your clients use not only requires skill and effort on your part — it’s a pain point for your clients, too.
Inflo wizardry makes it easy for clients
To provide deep insights into your client’s finances, you need access to disaggregated financial data you can analyse. Obtaining this data from the variety of accounting systems your clients use not only requires skill and effort on your part — it’s a pain point for your clients, too.
An intelligent approach
InfloHI calculates observed user trends and recommends the data ingestion technique that will yield a successful first-time and recurring extraction. Our data specialist teams are also on hand to provide direct support whenever it’s needed.
A pain-free process
This provides a simple, pain-free process to client accounting and finance teams. It also minimises the involvement of accounting firm staff, so they can focus on analysing data and providing value to their clients.
Fraud Detection
Quickly find the notable transactions
In the modern business world, even small and medium sized enterprises often have hundreds of thousands or millions of transactions underpinning their financial statements. Inflo is a critical software tool to quickly finding the notable transactions in such large populations.
No scripting skills necessary
Writing complex scripts to identify transactions involves a lot of skill. Inflo removes the need for these skills, automatically running a suite of routines to identify and then visualise the notable transactions. Custom routines can also be designed through a simple user interface.
Not just the common tests
Identifying transactions for round amounts, or those posted on weekends isn’t ground-breaking, but it’s frustrating to do manually. However, we go further, identifying unusual user behaviours, accounting combinations, and related party keywords. Inflo provides a suite of routines which helps you identify the truly risky transactions.
Multi-dimensional risk scoring
You don’t just want to find items which display one characteristic of potential fraud — you want to find those that show multiple characteristics. Our unique multi-dimensional risk scoring approach disperses a complete population, instantly highlighting the transactions posing the greatest risk.
Supported by InfloHI
InfloHI monitors the outputs of routines along with user behaviour, providing recommendations for evaluating risk. This supports accounting firms in identifying the transactions that require their focus.
Alignment with auditing standards
Testing of fraud, specifically journal entries, by auditors is under ever increasing scrutiny. Inflo provides a sophisticated and logical approach to executing testing in line with ISA 240, AU-C 240 or other standards, including detailed and re-performable workpaper documentation for inclusion in your files. No black box; simply a compliant and powerful approach.
KPI Calculation & Benchmarking
An automated approach to producing ratio analysis
Ratios, KPIs and statistics are a fundamental element of many accounting services. Calculating them is time consuming and guaranteeing accuracy and consistency is laborious. Inflo embeds a disciplined, automated approach to producing ratio analysis, aiding in comparability and reliability.
All the common ratios, plus those unique to Inflo
As well as calculating common ratios like receivable days across categories such as liquidity and profitability, Inflo computes deepdive KPIs across business processes, such as expenses, treasury and payroll. This provides a range of statistics only available in Inflo.
Industry tailored outputs
Different industries or client sectors focus on different KPIs. Inflo uses client characteristics to present a tailored list of KPIs.
The bigger picture
Calculating KPIs and trends in performance internally is achievable for any organisation. However, using Inflo allows accounting firms to provide an unrivalled external evaluation of performance.
Benchmark groupings
Inflo uses a blend of reliable data sources to provide you with deep and meaningful statistics from comparable peers. You can also filter peers based on characteristics such as industry or organisation type.
Performance Analysis
Financial information visualised
Whether based on trial balances, management accounts or other data sources, a significant amount of time is spent by accountants using tools like Excel to prepare basic information or more advanced visualisations. Inflo automates the production of both financial information and visualisations based on transactional data taken from the source accounting system.
Variance analysis
Inflo automatically computes trend and variance analysis, computing the movement in the current year against prior year amounts or expectations defined by the engagement team.
Through the simple use of colour, accountants can instantly identify the key variations, based on value or percentages. This helps them quickly focus on the notable variations requiring consideration.
Reliability
Given the automated preparation on source accounting system data, users of Inflo can confidently review analysis and findings safe in the knowledge the interpretations they draw are reliable.
Explore and drill-down to the root cause
Through visualisations analysing user, date, or source document information, users can explore variances and drill down to the source accounting entries causing variations.
Prepared-By-Client Templates
A standardised, scalable and repeatable approach
Creating Prepared-by-Client (PBC) lists tailored to your client and their industry can be time-consuming. Inflo consolidates this process, providing you with a standardised, scalable and repeatable approach.
A detailed library of PBC requests
Inflo automates this process by accessing a library of potential PBC requests. Based on research by domain experts, Inflo then matches the engagement circumstances to pre-built PBC requests to populate a tailored listing for your review. It’s easy to create and copy bespoke templates so you can manage consistency of approach across your client portfolio. You can also create your own bespoke templates for a broad range of engagements, and the roll-forward functionality means time invested in tailoring has a multi-year and multi-client pay off.
Remove duplicated requests and efforts
This also avoids duplication by consolidating requests from multiple service lines and removing requests for information which can instead be extracted through Inflo’s Data Ingestion process, minimizing the time it takes clients to run system reports.
Project Management
Easily manage a portfolio of engagements
Keeping track of the status of information being shared during engagements is time-consuming and labor-intensive. Managing a portfolio of engagements compounds this problem. Inflo transforms this process, allowing both firm and client users to monitor the status of information requests in real time and in one central location.
Visibility over inefficiencies
Delays and inefficiencies can easily be identified as they occur. Inflo’s interactive dashboards and summary reports allow for timely communication with clients regarding overrun situations.
Deadline management and work allocation
Each user can see items that are outstanding from their individual dashboard and filter these by assignee, status, or due date to prioritise tasks. In larger finance teams or group engagements, management can oversee how their team is progressing and quickly pinpoint and resolve delays.
Capturing client knowledge
A full record is retained in the Inflo system, demonstrating the information provided to satisfy requests. This aids efficiency in future years by rolling forward this client knowledge, making team continuity less critical.
Secure Collaboration
A safe and secure platform
Email is an ineffective and unsecure way to share confidential financial data with clients, though all too often it’s still relied on. Inflo moves all information exchange and communication to a safe and secure platform.
Guaranteed confidentiality
It has never been more important to ensure that information received from, or shared with, clients remains confidential. Collaborating through Inflo allows you and your clients to safely exchange information and communicate with peace of mind.
Structure and workflow
Unlike other file-sharing systems Inflo has been tailored to meet the specific needs of accounting engagements. The diligent structure through PBC templates, built-in workflow and status monitoring offer transformational project management.
No more email chasing
Inflo gives you access to client files anywhere on any device through the Cloud. Your clients can add comments, upload files or even use mobile devices to work with your team. Scouring through emails to try and find a document is a thing of the past — instead, navigate straight to the information you need in Inflo’s secure file-sharing portal.
