Graphic Packaging Selects Approva For Continuous Visibility Into Business Processes
October 05, 2004 - Vienna, VA
Approva® Corporation, a leading provider of enterprise controls management software for ERP business processes, today announced that Graphic Packaging International, Inc. (NYSE: GPK), a leading provider of paperboard packaging solutions to the beverage, food and consumer product industries, selected Approva BizRights® to provide greater visibility into its internal controls and business processes. Graphic Packaging International, Inc. will deploy BizRights Version 2.1 within its SAP® R/3® ERP system.
To comply with Section 404 of the Sarbanes-Oxley Act, public companies must document that adequate internal controls are in place. As a company committed to innovation, Graphic Packaging already utilizes best practices to monitor its internal controls. The company looked to Approva to improve visibility into existing controls and help ensure a continuous Sarbanes-Oxley compliance program.
Approva’s flagship software, BizRights, enables users to identify, document, test, remediate and monitor business controls in real time. In comparison to traditional audits, which are static and point-in-time, Approva helps its customers test, manage and monitor controls to achieve sustainable compliance. In addition to increasing insight into business and financial processes for companies like Graphic Packaging, BizRights also enhances efficiency and reduces business risk by identifying user and role violations within ERP systems.
Biz Rights enables SAP users to more easily create, define and process user and role authorizations. When SAP users request a new role, BizRights automatically reviews the request, determining if the request causes any segregation-of-duties violations. When no violation exists, the request is quickly approved. If there is a control violation, BizRights flags it immediately for a business manager to review. In addition to using BizRights to identify violations, Graphic Packaging plans to use the software as a preventive tool to stop violations before they occur.
"We are pleased an innovative and solutions-oriented company like Graphic Packaging, which has created numerous, original products that improve the day-to-day lives of consumers, selected Approva to raise the bar on its compliance efforts and existing internal controls," said Prashanth (PV) Boccasam, CEO of Approva.
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 Graphic Packaging Corporation
Graphic Packaging Corporation was formed in August 2003 as a result of the merger of Riverwood Holding, Inc. and Graphic Packaging International Corporation. Graphic Packaging is a leading provider of paperboard packaging solutions to the beverage, food and consumer product industries. Additional information about Graphic Packaging, its business and its products is available on the Company’s Web site at http://www.graphicpkg.com.
For More Information: