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Agent Logic's Virtual Auditing Solution for Commercial Card Programs

2009-04-30

VIENNA, Va., April 30 -- Agent Logic, a leading provider of award-winning Operational Intelligence (OI) software, unveiled the company's virtual audit solution, before 600 purchasing card professionals and industry insiders at the NAPCP's national conference.

CardLogic provides 100% transaction monitoring, custom policy and rule writing, and real-time visibility into maverick spending and suspected non-compliance. This new concept in card program management moves the industry beyond reports to a proactive, automated, and comprehensive awareness of commercial card misuse.

"As commercial card programs grow, it becomes increasingly difficult for card administrators to review all transactions among a sea of reports, to identify non-compliance, and to mitigate financial loss. To address these challenges, technology with virtual auditing capabilities has emerged for the commercial card industry," said Frank Martien, a Partner at First Annapolis Consulting who leads the firm's commercial card practice area. "For example, Agent Logic delivers capabilities required for organizations to overcome these challenges by rendering employee card transaction monitoring more targeted, efficient, and effective."

By consistently, continually, and automatically running policy rules on all transactions and cardholders, CardLogic dramatically increases visibility into non-compliance and maverick spend. Cardholders and program managers are able to receive instant notification of possible policy non-compliance.

"Given current economic conditions, Fortune 500 companies are demanding that indirect spend increasingly move toward electronic forms of payment, such as purchase, travel, and fleet cards, without allocating more manpower to audit these expenditures," said Michael Appelbaum, Agent Logic's CEO. "CardLogic offsets the impact of the economic downturn by allowing commercial card spend to increase without requiring an increase in FTEs for auditing."

CardLogic also has the capability to expand by leveraging other forms of spend, including T&E, fleet, and e-procurement data sources. This allows corporations to reap the efficiency gains from virtual audit across their procurement organization--achieving a comprehensive view of spend for all cardholders and business units.

About Agent Logic, Inc.

Founded in 1999, Agent Logic provides award-winning Operational Intelligence (OI) with its user-driven Complex Event Processing (CEP) server RulePoint(R). The company's focus is on empowering the end user by providing simple and effective ways to obtain Operational Intelligence without involving IT personnel. The easy-to-use CEP software enables OI solutions for commercial and U.S. national security initiatives in complex environments requiring world-class reliability, scalability, security, flexibility, and speed of deployment.

Contact: Kerrin Russell
Phone: 703-744-7734

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