http://approva.net/company/releases Approva Company Press Releases en pr@approva.net Copyright 2008 2008-07-21T13:27:00-05:00 http://approva.net/company/ernst-young-signs-multi-year-licensing-agreement/ http://approva.net/company/ernst-young-signs-multi-year-licensing-agreement/#When:12:27:00Z Ernst & Young, one of the world’s leading professional services organizations has renewed their multi-year licensing agreement with Approva® Corporation (http://www.approva.net), the leader in controls intelligence software. Companies faced with a growing mandate to formalize their governance, risk and compliance initiatives will benefit tremendously from the new agreement that offers industry-leading advisory services from E&Y combined with the market-proven Approva BizRights® Controls Intelligence Platform and Process Insights suite. “Ernst & Young believes that continuous controls and transaction monitoring are going to be critical components of enterprise risk management and compliance efforts,” said Paul van Kessel, Global Leader for the Technology and Security Risk Services. “We believe that automation of this kind of monitoring will create more business insight, will help identify errors in financial and business processes and will simplify companies' compliance efforts, all resulting in a stronger control environment and a more competitive position in the market." Approva software will specifically benefit companies in: Creating a repeatable and sustainable audit and compliance management process: The biggest advantage of a controls intelligence strategy that is strongly aligned with your external auditors is that it builds a streamlined audit process. Having a common technology platform that the auditor and auditee employ for controls testing results in more efficient year-end audits. The client companies are able to better fulfill auditor requirements using the standardized controls intelligence platform such as Approva BizRights. Leveraging the dual benefits of expert advice backed by proven compliance solutions: A successful GRC plan incorporates the right balance of people, process and technology. External auditors’ teams of highly experienced professionals help companies meet audit and compliance goals. Companies with external auditors using Approva’s software – like Ernst & Young – will also benefit from the proven Approva BizRights controls intelligence software that accelerates their compliance efficiency. “Approva is delighted to power a new and a high-growth business area for Ernst & Young,” said Prashanth “PV” Boccasam, Chairman and CEO, Approva Corporation. “Ernst & Young is a recognized leader in this sector and we are proud to be selected as the vendor of choice for their risk advisory efforts.” About Ernst & Young Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 130,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve potential. For more information, please visit http://www.ey.com. Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300. 2008-07-21T12:27:00-05:00 http://approva.net/company/approva-ceo-invited-to-speak-at-iia-international-conference/ http://approva.net/company/approva-ceo-invited-to-speak-at-iia-international-conference/#When:15:41:00Z Approva® Corporation (http://www.approva.net), the leading provider of controls intelligence software, announced today the company’s CEO, Prashanth “PV” Boccasam, will present at this year’s Institute of Internal Auditors (IIA) International conference, taking place July 6th-9th at the Moscone Center in San Francisco. This annual event is the world's largest gathering of internal auditors, risk and control specialists. The 2008 conference is expected to draw a high-powered audience of at least 1,500 professionals from more than 45 countries. Boccasam will be co-presenting with the head of internal audit of a Fortune 500 company and a renowned expert in the area of continuous auditing and automation. The session titled, “Implementing Continuous Controls Monitoring as a Corporate-wide Initiative” will take place on Tuesday, July 8th, 4:15 – 5:30 pm PST. This session is geared towards helping auditors with a governance, risk and compliance mandate to successfully deploy a continuous controls monitoring strategy that several Fortune 500 and Global 2000 companies have benefitted from. Innovation in audit automation continues to grow with the increased demand for an end-to-end approach to enterprise security and compliance. However with all the existing automation solutions available in the market, it is imperative to formulate a controls intelligence strategy that delivers the best return on your compliance investments. The Approva session at IIA International 2008 will demonstrate real world examples from a Fortune 500 company that has taken continuous controls monitoring to new levels in audit automation. You can also discuss the best controls strategy for your organization with Approva representatives at the IIA International conference by visiting our booth #314. About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300. 2008-06-30T15:41:00-05:00 http://approva.net/company/releases/sspa-honors-approva-with-star-award-for-best-practices-in-customer-support/ http://approva.net/company/releases/sspa-honors-approva-with-star-award-for-best-practices-in-customer-support/#When:12:59:01Z The Service & Support Professionals Association (SSPA), the largest and most influential association for technology service and support professionals, earlier this month named Approva Corporation the winner of the 2008 SSPA STAR Award for Best Emerging Company Support. The award recognizes technical support within emerging businesses (defined as companies with under $500M in total annual revenue) for which exemplary customer support is important for company growth and is typically provided with constrained resources. Approva demonstrated how their technical support effectively maintains their customers’ satisfaction and loyalty, and helps drive new business. Approva was honored during a luncheon awards ceremony at the SSPA Best Practices Conference in Santa Clara, California, on May 6. “SSPA standards are the benchmark for IT Service and Support professionals worldwide,” said Stephen Smith, executive director, SSPA. “The competition especially in the Emerging Company Support category was fierce this year and Approva’s Global Customer Support organization demonstrated a 90% satisfaction rate which is way above the industry standard. It is quite impressive for a young venture like Approva to have established industry best practices in superior technical support and service offerings that align their support efforts with some of the big brand names in the IT industry.” This is the second year in a row that Approva Global Customer Support has been recognized by SSPA for excellence in technical support and customer satisfaction ratings. The company’s global support team has introduced several key initiatives including “Get SMaRT,” a monthly training program to provide ongoing customer education and Approva University, a formalized curriculum to address the learning needs of customers and audit partners and help them achieve the status of Approva Certified Professionals (ACP). There are currently over 1,000 Approva Certified Professionals worldwide representing Big Four audit firms and Global 2000 companies and the demand for Approva University’s standardized BizRights® education program has grown exponentially. “We are truly honored to be a winner of the SSPA Star Award for Best Practices,” said Judith Platz, VP of Global Customer Support, Approva. “Customers have been the centerpiece of Approva’s success as an industry leader in controls intelligence and this award validates our mission to provide world class support that enhances the value customers achieve from Approva’s products. We are constantly innovating our service offerings and our customers can now choose from three dedicated service options: Support Account Management, Designated Technical Contact Services and High Touch Response Services, all geared towards increasing our customers’ operational efficiency.” About the SSPA As the industry’s foremost professional association, the Service & Support Professionals Association (SSPA) is a key resource for the information and best practices needed to make better business decisions. It brings together the best minds from across the industry spectrum – from established companies with successful track records to the pioneering newcomers with out-of-the-box ideas. The SSPA also partners with thought leaders such as J.D. Power and Associates and the Wharton School of Business to create programs that benefit the industry. The SSPA is a member of a global network of associations that includes the Technology Professional Services Association (TPSA), the Association for Services Management International and the Electronic Supply Chain Association. For more information, visit http://www.thesspa.com About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300. 2008-06-03T12:59:01-05:00 http://approva.net/company/releases/approva-ceo-selected-to-present-at-mavas-capital-connections-2008/ http://approva.net/company/releases/approva-ceo-selected-to-present-at-mavas-capital-connections-2008/#When:22:55:00Z Approva® Corporation (http://www.approva.net), the leading provider of controls intelligence software, announced today the company’s CEO, Prashanth “PV” Boccasam, will present at this year’s Mid-Atlantic Venture Association’s Capital Connection 2008 event, taking place May 27-28 at the Baltimore Marriott Waterfront Hotel. Thirty-three early through expansion stage companies – representing a wide range of industries, including e-commerce, Internet, media, security, software and wireless – were chosen through a competitive process to address the audience of prominent investors with information about their leading-edge technology companies. Approva was selected to represent later stage growth companies among a pool of highly competitive applicants. Boccasam’s session – taking place on Tuesday, May 27th, Presentation Room #2 5:00 - 5:15 pm EDT – will share Approva’s success in helping Global 2000 and audit and risk advisory firms to implement effective governance, risk and compliance strategies. During the presentation, Boccasam will discuss the growing demand for innovation in audit and compliance technologies, and how controls intelligence solutions like the Approva BizRights® Platform and Controls Intelligence Suite Version 4.1 have helped marquee brand names establish themselves as benchmarks for good corporate governance. Approva is backed by leading venture capitalists New England Associates (NEA), Sierra Ventures, Novak Biddle and Columbia Capital. “As our market has significantly advanced, the investment needs of our members have matured over the years and this event has evolved with them,” said Julia Spicer, Executive Director of MAVA. “By providing the opportunity to interface with a wider range of private growth companies, we are striving to satisfy the changing needs of companies and investors alike. The impressive line-up of industry leaders on our agenda and our expanded focus will serve to drive more investment in companies in the mid-Atlantic region.” About MAVA’s Capital Connection 2008 Produced by the Mid-Atlantic Venture Association (MAVA), Capital Connection is one of the nation’s most successful and influential venture events. Over the years, MAVA venture fairs have helped to shape the region's entrepreneurial economy, generating more than $2.7 billion of venture investments in the presenting companies. MAVA represents private equity and venture capitalists with investment interests in the mid-Atlantic. Founded in 1986, MAVA provides a wide range of programs, information and forums designed to facilitate quality deal flow, encourage collaboration, and foster relationships with entrepreneurs and investors in order to promote private equity investment. Membership includes more than 500 venture capital professionals representing nearly 125 firms with collectively more than $90 billion in capital under management. In addition, more than 250 key professional service providers from the legal, financial, executive search and consulting fields are also MAVA members. For more information, please visit http://www.mava.org About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300. 2008-05-27T22:55:00-05:00 http://approva.net/company/releases/red-herring-announces-approva-as-north-america-top-100-winner/ http://approva.net/company/releases/red-herring-announces-approva-as-north-america-top-100-winner/#When:18:29:00Z Approva® Corporation (www.approva.net), the leading provider of controls intelligence software, announced today that the company has been selected a Red Herring Top 100 winner.  The award recognizes the 100 most innovative private technology companies headquartered in North America. "The large number of entries in this year's competition demonstrates that the economic slowdown has not affected technology innovation," said Joel Dreyfuss, editor-in-chief of Red Herring. "The companies on this year's list are proof that creative ideas continue to find the funding that turns them into promising businesses." Red Herring's annual lists of top private companies are an important part of the company's tradition of identifying new and innovative technology companies and entrepreneurs. Companies like Google, eBay and Skype were spotted in their early days by Red Herring editors, and touted as leaders that would change the way we live and work. Red Herring's editorial staff rigorously evaluated more than 800 private companies through a careful analysis of financial data and subjective criteria, including quality of management, execution of strategy, and dedication to research and development.  To honor the CEOs of Red Herring 100 North America companies, Red Herring invited each one to present his or her company at its Red Herring North America 2008 event, May 12-14, at the San Jose Fairmont.  As the venue for the unveiling of the Top 100 private companies in North America, this event draws unparalleled attention from decision makers and industry observers across the continent.  This year marks the 11th anniversary of the Red Herring 100 Awards.  "The Red Herring Top 100 has historically been awarded to companies that define their industry," said Prashanth "PV" Boccasam, Founder and CEO, Approva. "Approva's recognition as a Red Herring Top 100 winner is a strong validation of our continued growth and market leadership in delivering next generation controls intelligence solutions that reduce risk, streamline compliance and accelerate our customers core business processes." 2008-05-21T18:29:00-05:00 http://approva.net/company/releases/approva-ceo-named-ey-entrepreneur-of-the-yearreg-2008-award-finalist/ http://approva.net/company/releases/approva-ceo-named-ey-entrepreneur-of-the-yearreg-2008-award-finalist/#When:18:19:00Z Approva® Corporation (http://www.approva.net), the leader in controls intelligence solutions, today announced that CEO Prashanth “PV” Boccasam is a finalist for the Ernst & Young Entrepreneur of the Year® 2008 Award in the Greater Washington Region. According to Ernst & Young, the awards program was designed to recognize outstanding entrepreneurs on a regional, national and global level who are building and leading dynamic, growing businesses. PV was selected as a finalist from over 100 nominations by a panel of independent judges. Award winners will be announced at a special gala event on Thursday June 19, 2008 at the Ritz Carlton, Tysons Corner. “I am deeply honored to be a finalist for the Ernst & Young Entrepreneur of the Year Award,” said Boccasam. “This recognition is a testament to Approva’s leadership in the governance, risk and compliance (GRC) sector and our world class team of professionals that are dedicated to innovation and customer success. Approva has demonstrated consistent growth in the last five years and is now the de-facto controls intelligence solutions used by Global 2000 and Accounting and Risk Advisory firms.” PV has been Approva’s Chairman and CEO since he founded the company in 2001. As reports of corporate financial misstatements were first emerging, he envisioned a huge market potential in developing controls intelligence solutions that would continuously monitor key processes to prevent another Enron or WorldCom from happening. Over the last seven years, PV has transformed Approva from an idea on a white board to a market leader in controls intelligence software. Approva customers have moved beyond segregation of duties monitoring and SOX compliance to a more end-to-end approach to controls of their mission-critical business processes. With the Approva BizRights® Platform and Controls Intelligence Suite, companies can also monitor critical transactions, master data, key business processes at a much deeper level and take calculated risks while preventing fraud or other financial catastrophes. The Ernst & Young Entrepreneur Of The Year awards program celebrates its 22nd anniversary this year. The program has expanded to recognize business leaders in over 135 cities in 50 countries throughout the world. Regional award winners are eligible for consideration for the Ernst & Young Entrepreneur Of The Year national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year award winner, will be announced at the annual awards gala in Palm Springs, California on November 15, 2008. The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation’s most prestigious gathering of high-growth, market-leading companies. Sponsors Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors. In Greater Washington sponsors include HSBC Bank, Pillsbury Winthrop Shaw Pittman, Reznick Group, Lockton Companies and the Washington Business Journal. About the Ernst & Young Entrepreneur Of The Year Awards The Entrepreneur Of The Year(R) awards program was created and is produced by professional services firm Ernst & Young LLP. As the first award of its kind, the Ernst & Young Entrepreneur Of The Year(R) Award recognizes outstanding entrepreneurs who are building and leading dynamic and growing businesses. The program, which celebrated its 20th anniversary in 2006, honors entrepreneurs through regional, national and global award programs in over 125 cities and 40 countries. About Ernst & Young Ernst & Young, a global leader in professional services, is committed to enhancing the public’s trust in professional services firms and in the quality of financial reporting. Its 114,000 people in 140 countries pursue the highest levels of integrity, quality, and professionalism in providing a range of sophisticated services centered on our core competencies of auditing, accounting, tax, and transactions.  Further information about Ernst & Young and its approach to a variety of business issues can be found at http://www.ey.com/perspectives.  Ernst & Young refers to the global organization of member firms of Ernst & Young Global Limited, a U.K. company limited by guarantee, each of which is a separate legal entity.  Ernst & Young Global Limited does not provide services to clients.  Ernst & Young LLP is a U.S. client-serving member firm of Ernst & Young Global Limited. About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls.  Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit www.approva.net  or call us at +1-703-956-8300. 2008-05-21T18:19:00-05:00 http://approva.net/company/releases/approva-announces-release-of-bizrights-41/ http://approva.net/company/releases/approva-announces-release-of-bizrights-41/#When:17:36:00Z Approva® Corporation (http://www.approva.net), the leading provider of controls intelligence software, today released the latest version of its BizRights® Platform and Controls Intelligence Suite Version 4.1. The new release provides a significantly faster and more targeted approach to user access and system configuration monitoring in the most complex enterprise resource planning (ERP) environments.  “Approva BizRights Version 4.1 includes improved performance and scalability for Oracle, PeopleSoft, SAP, and other critical systems.  Approva continues to provide very detailed analysis and now at an incredible speed,” said Charles Braswell, Director of GRC Services, Sunera LLC.  “This new release enables global organizations with hundreds or thousands of ERP users to quickly and easily analyze control risks at a detailed level across the enterprise in minutes.” Organizations with Oracle E-Business Suite will benefit from deeper, more detailed analysis of Oracle security, more reporting flexibility, enhanced closed-loop remediation capabilities, and extended support for Oracle E-Business Suite Release 12. Approva is the first company to provide enterprise support for all the latest and previous releases of all Oracle modules. Organizations with PeopleSoft Enterprise will benefit from new reports that provide more detailed information in business friendly formats, more granular analysis of PeopleSoft security, improved closed-loop remediation options, and extended support for PeopleSoft Enterprise Release 9.0. Approva is the only company to maintain its solution to support both legacy and current releases of PeopleSoft versions. With a new industry-leading predictive control analytics engine and embedded PredictX™ technology, Approva BizRights version 4.1 performs fine grained analysis of every nuance of ERP controls, with faster analysis time and controls violation reporting that reaches down into the most detailed levels of ERP systems’ security models of any application or niche vendor in the marketplace. The ability to analyze both granular application control settings contemporaneously with security and transactions reduce the false-positives while increasing the accuracy identifying and predicting control breakdowns in mission-critical business processes. “Approva BizRights 4.1 delivers on the promises we made earlier this year to offer the fastest, most accurate and most comprehensive controls intelligence solution to our Oracle and PeopleSoft customers,” said Steve Elliott, CTO and Senior VP of Products, Approva. “This release builds on the market-leading capabilities of Approva BizRights 4.0, and offers unrivaled depth, breadth and performance to the largest of enterprise customers. At the end of the day these new capabilities translate into lower costs, reduced risk of fraud and more reliable and sustainable control frameworks for our customers.” About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls.  Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300. 2008-05-19T17:36:00-05:00 http://approva.net/company/releases/approva-named-red-herring-north-america-top-100-finalist/ http://approva.net/company/releases/approva-named-red-herring-north-america-top-100-finalist/#When:11:53:00Z Approva® Corporation (http://www.approva.net), the leading provider of controls intelligence software, announced today that the company has been selected as a finalist for the 2008 Red Herring 100 list.  The award recognizes the 100 most innovative private technology companies headquartered in North America. Technology industry executives, investors, and observers have regarded the Red Herring 100 lists as an invaluable instrument to discover and advocate the promising startups that will lead the next wave of disruption and innovation. Past award winners include Google, Yahoo!, Skype, Netscape, Salesforce.com, and YouTube. The Red Herring editorial board diligently surveyed the entrepreneurial scene throughout the North American region and identified the top 200 out of more than 800 closely evaluated companies that are leading the next wave of innovation. “We can see the exciting evolution of the technology sector reflected in the quality and variety of exceptional companies that we had to choose from in putting our list together,” said Joel Dreyfuss, editor-in-chief of Red Herring.” It was tough to choose just 200 finalists from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists.” Red Herring will gather well over 300 CEOs, venture investors, government officials and senior corporate business development executives to its annual Red Herring North America conference on May 12-14 in San Jose, Calif. As the venue for the unveiling of the Top 100 private companies in North America, it draws unparalleled attention from decision makers and industry observers across the continent. “We are honored to be selected as a Red Herring 100 finalist,” said Prashanth “PV” Boccasam, Founder and CEO, Approva. “Our dramatic growth over the last five years is a testament to the value our controls intelligence solutions deliver to our customers and our commitment to innovation.” About Red Herring Red Herring is a global media company which unites the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine, an online daily technology news service, technology newsletters and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. More information about Red Herring is available on the Internet at www.redherring.com. About Approva Approva® Corporation is the leading provider of controls intelligence software and is the industry standard for three of the five largest audit and advisory firms. We automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, Colgate Palmolive, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls.  Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit http://www.approva.net or call us at +1-703-956-8300. 2008-05-01T11:53:00-05:00 http://approva.net/company/releases/approva-corporation-appoints-richard-m-cobb-as-vice-president-of-sales/ http://approva.net/company/releases/approva-corporation-appoints-richard-m-cobb-as-vice-president-of-sales/#When:13:00:00Z Approva Corporation, a leader in continuous monitoring of sensitive business transactions within enterprise applications, today announced the appointment of Richard M. Cobb as vice president of sales. In his new role, Cobb will be responsible for worldwide sales operations. Cobb has an extensive background in technology sales, as well as expertise in developing and leveraging worldwide sales and distribution networks. "We welcome Rick to our team here at Approva," said Prashanth V. Boccasam, Founder and CEO of Approva. "With his 15 years of experience with technology companies, Rick brings a unique mix of applied market knowledge and effective methods for using sales and distribution channels to achieve bottom-line results." "As an early leader in an emerging market, Approva is known for developing innovative products that address a growing market need and offer a competitive advantage over existing manual processes and niche audit software tools” said Cobb. "Approva has the three critical elements required for success: great products, strong customer interest, and unlimited opportunity in the continuous monitoring market space. One of my primary goals here at Approva is to expand its sales operations and leverage its early successes with Pilot customers." “Rick Cobb is a superior sales leader who has consistently produced highly satisfied customers and significant revenues” said Suzanne King, Partner at New Enterprise Associates. “With Rick leading the sales effort, Approva will continue to build upon its very successful start.” Rick joins the Approva team with more than 15 years of experience and success in building and leading global field organizations known for creating win-win relationships with customers and partners. Prior to joining Approva Corporation, Rick served briefly as senior vice president of worldwide sales and field marketing at Macromedia. In the four preceding years he built and led worldwide Sales and Strategic Alliances at Intraspect Software, an enterprise collaboration and knowledge management company. Through eight years at Cadence Design Systems, Rick held executive field management positions including vice president and general manager of the Asia Pacific region, vice president of Japanese field operations, and Southeastern regional manager. In addition, he has held sales and sales management positions at companies including Westinghouse and ASI. Rick received a Bachelor of Science degree in Management Engineering from the Unites States Naval Academy. About Approva Corporation Approva Corporation is a leader in enterprise control management software for ERP business processes. Continuous monitoring has become increasingly critical as companies consolidate their ERP instances, upgrade to new versions, and roll out ERP to more users. Complying with government regulations, such as the Sarbanes-Oxley Act of 2002, amplifies the need for companies to increase the frequency, accuracy, and depth of their audit process. In contrast to existing snapshot-in-time tools or manual solutions, Approva BizRights product suite is an integrated monitoring business application that is continuous, business-friendly, and proactive. Its business user-oriented solutions help financial executives, business managers, and auditors continuously identify, document, test, manage, and monitor business controls. The end results are greater visibility into business risk, improved compliance, and increased efficiency. For more information visit us at www.approva.net. For More Information: Kerri Glover 202-973-2976 kglover@fitzgerald.com 2008-04-17T13:00:00-05:00 http://approva.net/company/releases/approva-corporation-appoints-philip-b-livingston-to-its-board-of-directors/ http://approva.net/company/releases/approva-corporation-appoints-philip-b-livingston-to-its-board-of-directors/#When:12:57:00Z Approva Corporation, a leader in continuous monitoring and auditing of sensitive business transactions within enterprise applications, today announced the appointment of Philip B. Livingston to its Board of Directors. Complementing the company’s expanded business development initiatives, Livingston will provide critical expertise to help the company achieve its sales and professional services goals. Philip B. Livingston was named president and CEO of Financial Executives International (FEI) in January 1999. FEI is the preeminent membership association for senior financial executives. Serving 15,000 members, the association is a proactive advocate to regulators and legislators on behalf of the interests of corporate financial executives. Prior to joining FEI, Livingston served as Senior Vice President and CFO of Catalina Marketing Corporation (NYSE:POS), a $400 million supplier of electronic marketing services for the consumer packaged goods industry. Before joining Catalina, Livingston served three years as vice president and CFO of Celestial Seasonings, where he successfully managed the company’s initial public offering and debt refinancing in 1993. “Approva offers an unparalleled enterprise software solution and is poised to achieve tremendous success,” said Livingston. “As part of the team, I look forward to helping the company build on its vision and customer excitement to become a dominant force in the marketplace.” “Phil brings a strong track record of thought leadership, strategic planning and business management to this board position,” said Prashanth Viswanath Boccasam, Founder and CEO of Approva. “As an experienced CFO, he understands the industry and people we serve and will become a valuable asset in our company’s growth.” About Approva Corporation Approva Corporation is a leader in enterprise control management software for ERP business processes. Continuous monitoring has become increasingly critical as companies consolidate their ERP instances, upgrade to new versions, and roll out ERP to more users. Complying with government regulations, such as the Sarbanes-Oxley Act of 2002, amplifies the need for companies to increase the frequency, accuracy, and depth of their audit process. In contrast to existing snapshot-in-time tools or manual solutions, Approva BizRights product suite is an integrated monitoring business application that is continuous, business-friendly, and proactive. Its business user-oriented solutions help financial executives, business managers, and auditors continuously identify, document, test, manage, and monitor business controls. The end results are greater visibility into business risk, improved compliance, and increased efficiency. For more information visit us at www.approva.net. For More Information: Kerri Glover 202-973-2976 kglover@fitzgerald.com 2008-04-17T12:57:00-05:00