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By Dennis Callaghan  |  Posted 2003-06-02 Print this article Print

The good news for technology managers is that there are several solutions available to meet these requirements and that more are on the way.

Last week, Oracle Corp., of Redwood Shores, Calif., announced its Internal Controls Manager, developed in consultation with PricewaterhouseCoopers, to help companies document and test internal controls and monitor ongoing compliance, using Oracle Workflow, a process-modeling tool built into Oracle E-Business Suite.

Nth Orbit Inc., a San Jose, Calif., start-up launched to help companies tackle Sarbanes-Oxley, last week announced its flagship product, Certus, which can design, document and implement internal and disclosure controls as well as certify and monitor compliance and perform routine assessments of compliance.

HandySoft Corp. and Plumtree Software Inc. last week announced Sarbanes-Oxley Accelerator, which combines business process management and portal software to create a platform for customers to establish internal controls and reporting procedures, while supporting collaboration with auditors and board members and building best practices for the collection and reporting of financial data.

To make financial data more uniform and easier to handle, some enterprises and their software vendors are beginning to use the Extensible Business Reporting Language data format, which was developed for financial reporting (see story).

While Sarbanes-Oxley is imposing financial and manpower constraints on corporations, executives are finding that its enforcing good business practices and validating initiatives already in place.

"Its something weve always done anyway—were just doing it a little bit differently now and doing it sooner," said Irving Tyler, CIO of Quaker Chemical Corp., in Conshohocken, Pa. "Its not a system change; its a process change."

Tyler, a certified public accountant, said giving management better views of information and putting better controls in place is essential to making companies business processes more cost-effective.

"This isnt unique because of Sarbanes-Oxley," said Tyler. "We would have done this anyway. All of our systems are in compliance—they always have been. Its just a matter of going through the review process."


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