The latest iteration, Daily Business Intelligence for Compliance, is an embedded compliance management system for Oracle E-Business Suite users—or prospective users—that offers prebuilt KPIs (Key Performance Indicators) around compliance metrics.
The software also offers reports around business performance and risk indicators, in a consistent reporting format.
The software is designed to help companies comply with federal regulations that require top-level executives to certify financial statements, and to help the companies prove the effectiveness of their internal controls, on an annual fiscal basis.
What DBI for Compliance does is provide a view into the negative evaluation and certification results within Internal Controls Manager, officials said. The same process, coupled with completion percentages, lets users track their certification progress.
There are actually two Oracle applications that work side by side to help companies automate approaches to the compliance quagmire: the new DBI for Compliance module, and Oracle Internal Controls Manager. The latter documents and tests internal controls and monitors ongoing compliance initiatives.
The DBI for Compliance software is available now.