About Us
Watchful Eye – Quality Control for Xero, MYOB
Mission
To help Accountants help their clients or businesses.
Vision
To drive quality and integrity into SME business processes.
Product Objective
Provide a simple, yet comprehensive assurance product giving companies comfort that all is well in their business.
Our Story
The Watchful Eye story began a long way from quality control. Watchful Eye was born out of the founder experiencing employee fraud first-hand while working as a CFO.
With 5% of company revenues lost annually to employee fraud globally, fraud is a huge issue.
As such, it’s critical for small to medium businesses to understand how they can protect themselves from employee fraud.
The perverseness of employee fraud has necessitated a platform that allows for companies to have visibility of suspicious activity.
A tool was needed to highlight anomalies so that they could be proactively investigated, reducing the risk of employee fraud and the loss of company funds.
Watchful Eye’s initial approach to protecting companies against error and fraud was to take a holistic view of improving the integrity of Xero data while also investigating suspicious anomalies within the transactional data.
As early adopter companies connected to Watchful Eye’s platform, it became apparent that the actual use of accounting tools was quite poor.
This triggered a flip in Watchful Eye’s approach, bringing processing quality to the forefront to help SMEs get the most out of Xero’s functionality (while simultaneously protecting against error & fraud).