Comply with the Sarbanes-Oxley Act - A Simple Approach
Manage process for SOX compliance
Sarbanes-Oxley makes governance and compliance a business priority: Ever-growing regulatory compliance requirements, like the Sarbanes-Oxley Act (SOX), require your organization to manage compliance issues in an efficient, cost-effective and dynamic way
How Enterprise Process Center Can Help? A Business Process Management (BPM) solution can help you fulfill your governance and compliance mandates and improve your overall strategic risk management so that you can leverage the required investment in compliance to improve all your organizational processes.
The Enterprise Process Center (EPC) BPM software product allows you to implement a pro-active governance framework for managing your risk and processes, now and for the future. It is dynamic, simple to use, and helps you face the future with confidence and peace of mind.
Compliance requirements are growing!
The Sarbanes-Oxley Act (SOX) introduced an intense new focus on the documentation, auditing and monitoring of key business processes. In light of corporate scandals like Enron, Tyco and Worldcom, this type of compliance legislation served to protect investors by improving the reliability and accuracy of corporate disclosures.
Legislation dictates increased rigor and accountability for:
Implementing the new legislation means applying well-thought-out internal controls that identify weaknesses - a good overall business practice for any organization. However, it also presents business and IT managers with a complex task that involves increased responsibility and liability, and many get bogged down with auditing and reporting procedures
Furthermore, such regulatory and compliance requirements will continue to become more complex, which makes it important to leverage the methods used to manage Sarbanes-Oxley (SOX) issues to create a dynamic compliance solution that evolves as requirements intensify and change.
Enterprise Process Center (EPC) software puts you ahead of the game
Interfacing Technologies' Enterprise Process Center (EPC) software is a Business Process Management (BPM) solution that provides more than the ability to manage compliance initiatives. It allows you to move from a reactive approach to SOX and other compliance requirements, to having a fully dynamic risk management and better business process management infrastructure.
Because EPC employs a systematic approach to the management of all your organization's processes – everything from knowledge management, to performance and compliance monitoring, to the enhancement of processes for change management and customer satisfaction – it allows you to
- create a governance framework,
- ensure compliance to laws and regulations,
- ensure the reliability of financial reporting and readiness for audits,
- ensure all control points are clear and visible to all business partners,
- improve the overall operational efficiency of your organization.
The Enterprise Process Center (EPC) – The proactive choice
Interfacing Technologies' Enterprise Process Center™ (EPC) software package meets your SOX-specific and other compliance enforcement needs, while optimizing your ongoing risk and compliance management and operational efficiency.
Complete audit trails that allow you to track all changes can be extracted and reported - a vital component for managing change and ensuring process compliance to standards and regulations. EPC's ability to capture process performance data and make that data available to participants gives your organization the real-time feedback necessary to stay on top of process performance.
A closer look at the advantages
Ensuring governance and compliance – Enterprise Process Center allows your business users to define and share your organization's governing policies, so as to ensure the compliance of your processes. By automatically applying these policies to the related processes, EPC takes care of compliance for you.
Reducing human error – Enterprise Process Center standardizes processes to meet compliance with corporate and regulatory policies, eliminating many of the errors created by manual compliance solutions. By automating the processes and providing appropriate reporting and tracking, errors can be avoided, resulting in significant cost savings.
Increasing Transparency - Complete audit trails that allow you to track all processes and changes can be extracted and reported - a vital component for managing change and ensuring process compliance to standards and regulations. This improved visibility allows you to identify and correct weaknesses with ease.
Increased overall productivity – Enterprise Process Center streamlines processes and their development and allows for their fully integrated end-to-end management. Our BPM solution helps you cut through the clutter and maximize the effectiveness of your processes every time.
Making compliance cost-effective – Enterprise Process Center lets you streamline and automate your compliance initiatives, including reporting and executing change, which lowers the soft and hard costs of compliance and risk management.
While Sarbanes-Oxley has issued forth a new wave of compliance stringency, and compliance requirements will continue to become more demanding, Interfacing is your BPM expert. We lead the way to corporate transparency with our easy to deploy, comprehensive solutions for all your compliance, risk and process management needs.
Turning Complexity into Simplicity
A Sarbanes-Oxley (SOX) Case Study
The CEO of one of the U.S.' leading energy marketers, was faced with the challenge of ensuring managers assumed ownership and accountability for the company's processes.
Because of its simple, straightforward methodology and ease of use, even the most complex processes were simplified and understood at a glance with Interfacing's Enterprise Process Center (EPC) software. Intimidation was turned into confidence and the business users found it easy to document and review their processes and related controls on an ongoing basis. For the CEO, that delivered great peace of mind.
Using the EPC software not only allowed the company to streamline its processes and engage all managers, but also prepared them for the regulatory SOX audits that had become a part of their daily jobs.
Furthermore, the auto web publishing allowed the CEO to view all process areas and review process-ownership reports, so he could determine who was on time and who was delayed in the review and approval of their processes and related documentation.
This transparency of ownership and actions across all levels ensures process maturity at the required level for Sarbanes-Oxley compliance. Another reason why Interfacing's EPC software is continuing to play a fundamental role in supporting SOX compliance.