Air Products Chooses Approva
September 21, 2004 - VIenna, VA
Approva® Corporation, a leading provider of enterprise controls management software for ERP business processes, today announced that Air Products (NYSE: APD), a leading provider of atmospheric gases, process and specialty gases, performance materials and chemical intermediates to the global technology, energy, healthcare and industrial markets, has selected Approva BizRights® to enhance visibility into its internal controls and business processes. Air Products will deploy BizRights Version 2.1 within its SAP® R/3® ERP system.
In response to the Sarbanes-Oxley Act, public companies must conduct internal controls audits. As an innovative company already utilizing corporate best governance practices, Air Products had internal controls in place. It looked to Approva to provide greater visibility into its existing controls, improving business efficiency and boosting its compliance efforts in preparation for the November 15, 2004, deadline for Sarbanes-Oxley Section 404.
Approva’s enterprise software product, BizRights, enables users to identify, document, test, remediate and monitor business controls in real time. Unlike point-in-time audits that quickly become outdated, Approva helps customers continuously manage controls. This increased insight into a customer’s business and financial processes not only helps with Sarbanes-Oxley compliance, but also increases efficiency and mitigates business risk.
“Since its founding in 1940, Air Products has become a global force in the gas industry, employing the highest standards for running its business,” said Rob Paradise, security manager at Air Products. “BizRights business-friendly, plain English interfaces encourage users who are not fluent in SAP to tailor business rules and reports, then notify the appropriate people when violations occur in the system. Lowering business risk with this software also reduces the burden on my security team, allowing us to focus on the core IT activities critical to managing security for Air Products.”
Air Products will receive numerous business benefits from deploying BizRights, including improved workflow through resolution of internal controls violations. For instance, when SAP users request a new role, BizRights will process that request smoothly and notify the appropriate manager for approval. If there is a segregation of duties violation, BizRights immediately flags it for review. The ”what-if” and workflow capabilities built into BizRights ensure that appropriate access is given to authorized users.
Air Products will begin implementing Approva BizRights immediately.
“With a strong focus on evolving its existing internal controls, we are pleased Air Products has selected Approva to elevate its corporate governance efforts,” said Prashanth (PV) Boccasam, CEO of Approva. “We look forward to working with Air Products to increase the breadth and depth of visibility into business processes and reporting.”
About Approva Corporation
Approva Corporation is a leader in enterprise controls 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, application security and auditors continuously identify, document, test, remediate 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.
About Air Products
Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. With annual revenues of $6.3 billion and operations in over 30 countries, the company’s 18,500 employees build lasting relationships with their customers and communities based on understanding, integrity and passion. For more information, visit www.airproducts.com.
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