Monarch Professional
2021 Innovation Awards
Apr. 09, 2012
2012 Innovation Awards Nomination:
Monarch Professional
www.MonarchProfessional.com
10,000 accountants, auditors and CPAs rely on Monarch Professional to increase their personal productivity by having easy access to the data they need. Often, accountants are forced to work with data from PDF files and other hard-to-work with data. Monarch Professional allows them to easily extract that information and export into Excel, making analysis and auditing much more efficient and ensures the data is trustworthy. 9 out of the top 10 global accounting firms use Monarch and report they save untold hours of manual rekeying of data.
One accountant using Monarch comments, “Monarch really enables a forward-thinking approach to accounting and auditing. It optimizes the in-person time at the client site. That time on site is expensive because it involves travel, lodging and related expenses. The more data-related work we get done before we are at the client site, the more productive we will be.”
Monarch Professional version 11, which became available in July 2011, brings an entire new look and feel to Monarch. With Monarch 11, accountants can extract data from nearly any data source and in almost any format – including semi-structured and loosely structured data – and export it into popular office applications and relational databases. Monarch complements traditional audit software packages, which tend to be database-focused and cannot access some of the data needed.
Monarch 11 also provides a self-service data platform so that accountants can build report models for specific data, and simply run those reports as needed. The alternative to Monarch is to manually rekey data or to resort to expensive, custom report programming from IT. A recent survey by Datawatch showed that most accountants do not have dedicated IT resources for data access and reporting.
Because Monarch accesses and extracts the data directly from source systems, resulting in no one touching the data, it completely eliminates the ‘human error factor.’ As one accountant said, “Monarch gives us reports with a 100% guaranteed accurate dataset.”
A key benefit to using Monarch 11 is the ability to easily consolidate data from multiple systems, such as accounting software, positive pay software, mainframe systems and others, into a single report. Not only does this provide better insight into the data, but it also enables accountants to focus on the data, and not spend valuable time learning how to extract data from multiple systems.
Contact: Kelly Kassa
kelly_kassa@datawatch.com
978-275-8240