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Capitalizing on its business process management capabilities, integration software provider Tibco Software Inc. will announce Monday afternoon an alliance with Protiviti Inc. that will offer ongoing compliance capabilities to users.
Protiviti, of Menlo Park, Calif., is an internal audit and risk consulting firm that also develops its own brand of Sarbanes-Oxley compliance software.
Under the terms of the agreement, which includes joint marketing and development, Tibco has integrated Protivitis SarbOx Portal application into its namesake Staffware Process Suite.
Protivitis SarbOx Portal application acts as a repository for control documentation. Staffware Process Suite, on the other hand, provides BPM (business process management) capabilities that include workflow and task automation, activity monitoring and rules-based enforcement of policies.
Tibco, of Palo Alto, Calif., acquired Staffware plc in July of 2004 for $217 million.
By combining the Staffware capabilities with Protivitis SarbOx Portal, users have the ability to document, test, assess and monitor internal controls after theyve achieved the early stages of compliance with Section 404 of the Sarbanes-Oxley Act of 2002, Tibco officials said. The idea is that once companies have gotten over the initial task of compliance, they will need to implement internal controls and processes to keep up with compliance efforts—where Tibco steps in with Protiviti, officials said.
To date, Tibco has integrated a handful of specific compliance-related business processes from Protiviti into the Staffware suite. Those include documentation review and scheduling of documentation; schedule of test plans; the implementation of a test plan; project review; and approval processes. In its next phase of development Tibco plans to delve into additional vertical industries, for example finance and health care, to include compliance workflow capabilities for those areas.
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