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Future Route wins "Best Use of Internet in Business Award" for Validis

Thursday, November 15th, 2007

"This technology could change the way businesses operate"

Future Route Ltd, the London-based company specialising in the development of intelligent data analysis software for mass markets, is delighted to announce that its flagship product, Validis™, received Accountancy Age's Award for 'Best Use of Internet in Business' at the publication's 2007 awards ceremony held at Battersea Evolution, Battersea Park last night.

Validis, which has been developed and brought to market by Future Route, is a web-based 'Software as a Service' ('SaaS') that provides its users with a cost-effective, on-demand data checking services for financial accounts.

Using a combination of business intelligence and advanced data algorithms to streamline error-checking by applying rules and analytics to every transaction, Validis provides its users with a simple, automated way of validating 100% of accounts data and generating powerful management reports within seconds, dramatically improving the speed and accuracy of accounts reviews.

The software is capable of identifying errors, spotting anomalies, highlighting suspicious transactions, analysing business trends, checking against internal and external accounting rules, enabling Validis' users to maintain their accounts efficiently and publish them with total confidence.

When undertaken manually, the review process and production of reports can take several hours and only includes a sample of transactions held in a company's accounting system.

Validis is available through the Internet and requires little or no training to use. This makes the product particularly attractive to small and medium sized enterprises, as it means they do not have to incur the financial costs or spend the substantial time required to put in place the necessary processes for conducting accounts reviews. Instead, they can simply log on to Validis, upload their accounts for analysis and receive a full report almost instantly.

Stewart Holness, Chief Executive of Future Route Ltd, said:

"We are delighted that Validis has won Accountancy Age's Award for best use of internet in business. It recognises that Validis has the ability to change the way in which businesses operate by providing a cost effective way of reviewing all accounts data online and producing detailed management reports almost instantly, thus alleviating the burden associated with the whole audit process. I would like to take this opportunity to thank the Future Route team for their dedication and commitment, without which the Validis product would not have been brought to market or recognised for the invaluable contribution it can make to businesses of all sizes."

Commenting on Validis, the Accountancy Age Awards judges said:

"This technology could change the way businesses operate. The use of the internet to deliver the product and the flexible approach is very inventive."

Sri Rajaratnam, Finance Director at charity group Visiting Arts, a Validis customer, said:

"Validis is a revolutionary product that produces rapid results which you do not even have to be an accountant to interpret. It is very easy to install, simple to use and offers an inexpensive way of verifying accounts."

Leslie Jeans, an independent book keeper who works with a number of small companies and a Validis customer, said:

"Validis is such a fantastic product and there is nothing else like it on the market. Not only does it provide an incredibly cost effective way of validating all accounts data within seconds but it cuts down the time associated with the whole review process dramatically."

ENDS

 

About Validis™:

Validis™, created and brought to market by Future Route, is a revolutionary 'Software as a Service' ('SaaS'), on-demand, data checking service for financial accounts. By using a combination of business intelligence and advanced data algorithms to streamline error-checking by applying rules and analytics to every transaction, Validis provides its users with a simple, automated way of validating 100% of their accounts data in a matter of seconds.

It identifies errors; spots anomalies; highlights suspicious transactions; analyses business trends; compares data against internal and external accounting rules; and generates powerful management reports in seconds. This means users can maintain their accounts efficiently and publish them with total confidence. With virtually no training required, Validis provides its users with a fast, efficient and cost effective way of checking the accuracy and completeness of their underlying accounting data.

In order to see what impressed the judges and how you can benefit, please visit www.validis.com.

 

About Future Route Ltd:

Future Route Ltd specialises in the development of very sophisticated technology products that focus on producing highly complex data analysis software using proprietary algorithms and making it available for various mass markets.

Future Route has filed a number of global patents in the use of artificial intelligence, inductive logic programming and information theory to solve a range of information based business issues. The company is backed by a group of experienced and influential city investors.

The Company has recently formed a strategic alliance with Mamut, a leading European provider of complete, integrated software solutions and internet services for small and medium enterprises (SMEs), which will see all Mamut customers throughout Europe provided with access to Validis, its flagship product.

Further information on Future Route Ltd can be found at www.future-route.com.

 

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