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Software to Track Corporate Fraud
20 Feb 2009
With the unfolding of the Satyam accounting fraud, software product companies have now found a new business opportunity to make software which can track a fraud.
Solix Technologies, a California based IT company, started by Indian techies, signed an agreement with Oracle to embed a functionality in Oracle's Flexcube software, which will be able to track if any financial or employee data is tinkered with in a company and alert authorities immediately.
The software can also alert via an SMS to the board if a crucial change has been made in a financial or employee database without authorisation.
Oracle has nearly 350 Flexcube banking customers in nearly 120 countries. Through this added functionality, Flexcube customers, like major banks will now be able to archive historical data like financials, customer information and employee data.
The software may archive and lock a data, thus making it impervious to change.
Tags
solix, oracle, financial, fraud, data fraud
Visit http://www.solix.com/
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