OpenPages and Approva Corporation Partner to Automate Governance, Risk and Compliance Processes
Joint Webcast to Detail How Product Integration Automates End-to-End Controls Management Process; Reduces the Cost of Compliance
August 28, 2006 - Reston, VA
Approva® Corporation and OpenPages today announced a joint technology integration that automates the end-to-end financial and operational controls management process. The joint solution allows organizations to test and analyze their applications’ control environments using Approva and then publish that control evidence in OpenPages’ Business Governance solutions. By offering the industry’s first solution to automate these processes, OpenPages and Approva allow organizations to strengthen their overall controls environment while significantly reducing overall compliance costs.
“The integration between OpenPages and Approva allows organizations to utilize a single system of record for automating and continuously monitoring transactions throughout the enterprise to reduce risk and ensure compliance with various regulations,” said Michael J. Duffy, president and CEO of OpenPages. “This will significantly reduce the cost of compliance for our joint customers while providing a more comprehensive and holistic enterprise-wide business governance solution.”
Together, OpenPages and Approva provide companies with dynamic decision support that goes beyond financial controls management. The integration allows companies to design, test, monitor and manage governance, risk and compliance information for both financial and operational controls, providing a holistic governance solution. Users can map Approva’s out-of-the-box rules for testing segregation of duties controls, system configuration settings, sensitive transaction monitoring and business process transactions directly to controls that are documented in the OpenPages platform. In addition to eliminating the manual effort associated with testing and documenting controls, the solution provides on-demand access to comprehensive and reliable controls information for a larger community of users. It also streamlines the audit process by enabling users to document all control evidence in a single location.
“We’re excited to partner with OpenPages,” said Prashanth (PV) Boccasam, Approva’s CEO. “By offering the first integrated solution of its kind we are enabling our joint customers to maximize the investments they have made in our solutions by streamlining the audit preparation process and further reducing the cost of compliance.”
OpenPages and Approva Webcast Will Showcase Integration
OpenPages and Approva will demonstrate their integrated offering in a joint webcast on Wednesday, September 20, 2006 at 12:00 p.m. EDT, which will feature John Hagerty, vice president and research fellow, AMR Research. The webcast will detail how the OpenPages Business Governance Platform and Approva BizRights integration allows organizations to automate the compliance lifecycle and streamline integration with other processes including provisioning, financial controls management and compliance monitoring. On-line registration for the webcast is available at www.approva.net/amr.
About OpenPages
OpenPages is the leading provider of governance, risk and compliance management software solutions. The company’s solutions provide the visibility, decision support and control to improve accountability, better manage risk, achieve compliance with numerous regulations, improve operational performance and align strategies to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications, media/entertainment, retail/consumer, energy, high technology, health services and life sciences rely on OpenPages to help them achieve sustainable governance, risk and compliance management—enabling them to become well-governed businesses. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in Hong Kong, Japan, France and the United Kingdom, and regional offices throughout North America.
For more information on OpenPages’ suite of business governance software solutions or to register for an online demonstration, please call 781-693-5999 or visit www.openpages.com.
About ApprovaApprova® Corporation is the industry-leading provider of Enterprise Controls Management software. We enable business, finance, IT and audit professionals to automate the on-demand testing, closed-loop remediation and continuous, exception-based monitoring of controls within and across their business systems. Using our solutions, customers are able to significantly increase visibility into their controls, streamline the audit process, cost-effectively sustain their compliance initiatives and reduce exposure to mistakes, fraud and inefficiencies for business processes such as procurement, sales and delivery, payroll and financial close. In addition, our automated solutions act as key preventative and detective controls, further strengthening our customers’ financial and operational control environments. Global companies such as Campbell Soup Company, Colgate-Palmolive, the Commonwealth of Pennsylvania, DirecTV, Discovery Communications, McCormick & Company, P&G, Pratt & Whitney, Siemens and Wyndham Hotels & Resorts rely on Approva BizRights® Platform and Enterprise Controls Suite to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. For more information, visit www.approva.net.