Halo for Journals

Halo for
Journals

Halo for JournalsNew generation technology that helps identify higher risk transactions and process inefficiencies.

Learn more

A window on your business

Many regard journals as the ultimate management override. They can be used to bypass control processes, move and change transactions outside the normal business processes and hide error and fraud. Halo for Journals was created to help manage this risk.

A risk assessment tool

Using a suite of algorithms that test your data, Halo for Journals helps you identify higher risk transactions and inefficiencies in finance processes and systems. It works on any system, at any scale – from small companies with one ledger and 1,000 journals at one end of the spectrum, to organisations with tens of millions of journals at the other.

A key line of defence

The review of journals is a key line of defence, but traditional methods have made oversight difficult due to the high number of journals coming from different departments and processors. This new generation technology has changed that, making real time oversight possible.

What Halo can do

With Halo, you can interrogate journals to reveal relationships and patterns in account codes, individual users, months, times of day, types of journals and amounts.

It can answer questions like...

  • 1

    Are infrequent users causing potential quality and efficiency issues?

  • 2

    Are there unexpected journals posted to key accounts?

  • 3

    Do you have an unusually high number of postings just below your authorisation limits?

  • 4

    Is someone outside of the finance department posting journals?

  • 5

    Are people wasting time posting entries twice, or reversing them?

  • Are infrequent users causing potential quality and efficiency issues?

  • Are there unexpected journals posted to key accounts?

  • Do you have an unusually high number of postings just below your authorisation limits?

  • Is someone outside of the finance department posting journals?

  • Are people wasting time posting entries twice, or reversing them?

How Halo Works

  • Your data

  • Your Halo

  • Yours to explore

  • We capture and extract relevant data.

  • We load it into Halo for you.

  • 24 hours a day, 365 days a year.

  • Your data

    We capture and extract relevant data.

  • Your Halo

    We load it into Halo for you.

  • Yours to explore

    24 hours a day, 365 days a year.

  • Extract

  • Transform

  • Test

  • Discover

  • We extract and refresh your data monthly or quarterly
    – the choice is yours.
    We use secure file transfer techniques that encrypt the data transmission
    to our PwC data centre.

  • Our transform and load process works on any system and organises your data into our standard Halo format. At all stages, your data is stored on secure servers that have undergone and passed extensive penetration testing.

  • Halo tests transactions in data populations using automated algorithms executed on a real time basis.

  • Halo reveals patterns and trends that tell you things about your business. You can explore and discover yourself, or PwC’s real time assurance team can help you do more.

  • Extract

    We extract and refresh your data monthly or quarterly
    – the choice is yours.
    We use secure file transfer techniques that encrypt the data transmission
    to our PwC data centre.

  • Transform

    Our transform and load process works on any system and organises your data into our standard Halo format. At all stages, your data is stored on secure servers that have undergone and passed extensive penetration testing.

  • Test

    Halo tests transactions in data populations using automated algorithms executed on a real time basis.

  • Discover

    Halo reveals patterns and trends that tell you things about your business. You can explore and discover yourself, or PwC’s real time assurance team can help you do more.

NavigationIt’s quick and easy.

The set of icons in the bottom left hand corner of the screen allows you to access the key Halo functions including – status of data quality on load, your dashboard, all tests and the export function that allows you to export the results of your tests or any data into Excel at the touch of a button.

DiscoverIt’s your information.
Look at it how you want.

Halo has four dynamic visualisations to help you explore your data. Depending on what you’re looking for, you can shift focus and cut the data in different ways. The zoom and hover functions allow you to isolate specific transactions and see more detail. Wherever you are, visuals are supported by headline data. And at any point in your exploration, clicking on the data icon in the bottom right hand corner of the chart pages will take you through to the underlying data set.

Get in touch

Halo for Journals is just one of PwC’s suite of Halo products designed to deal with industry and business issues. We also build bespoke applications for specific client needs.

If you want to know more, please contact us at halo@uk.pwc.com