|  Compliance
Manager - Sarbanes-Oxley
We are in a new age of compliance and accountability.
Required compliance can feel like a handicap. Xegy gives you the ability to turn
compliance into a competitive advantage. Along with transparency and accountability
comes the opportunity to improve your core financial business
processes.
Stage One - Shock: The
mere mention of the name Sarbanes-Oxley Act struck fear into the
hearts of most business leaders. Are they really going to
take it seriously? Well - they did. And, companies are biting
the bullet and changing.
Stage Two - Aftershock: THE
COST. Large companies are spending as much as 2% of their annual
revenues to address compliance requirements. Smaller companies,
nearing the time they have to implement controls, are facing costs
that take a dramatic bite out of margins. Companies have begun
to figure out the rules and implement the discipline, but it has
come at a high price. Auditors, systems, and employee time required.
Few companies
realize any tangible benefit and most are spending too much on
Sarbanes-Oxley.
Stage Three - Build it To Create
Value. There is little mystery remaining about Sarbanes-Oxley
compliance. Methodologies are pretty much standardized. There
are many systems out there to choose from and SOX-experienced
auditors roam in droves.
The task now is to drive cost out of compliance
and begin to take advantage of the inherent benefits of process
improvement that implementing a risk-control environment brings.
Most software solutions address a narrow scope of compliance,
forcing companies to utilize a number of expensive systems to
create a comprehensive solution.
Compliance Solution Advantages:
- Comprehensive - document and manage SOX
related business processes, implement and manage risk and controls,
manage affirmation process.
- It's a service - flip the switch
and you are up and running. Pay for it as a service - monthly
payments - no large capital outlay
- It
comes preloaded with standard Risk-Control-Testing practices,
architectures, and reports.
- Record
real-time testing for controls on a recurring schedule (each
control has its own testing cycles and criteria)
- Reports
that enable real-time management of testing and assertion activities.
- Affirmation
is online - no paper - no delays
- Security
- Xegy provides customer specific security models. Designed
to each customer's requirements.
- Testing
Integrity - Testing methodology ensures appropriate documentation
and sign-off.
- Auditors, process managers, and
compliance participants all share the same real-time environment.
- Link Risks and Controls to relevant
GL accounts
Flexibility
you don't expect in a service application:
Xegy represents the next generation of service-delivered
applications. Unparalleled power to build custom solutions while
taking full advantage of the rapid implementation benefits of
a service.
- Tailor
the risk and control environment to contain those data elements
critical to your organization
- Aggregate
risks into schemas designed to match your company’s organization
- Adapt
the standard Xegy 404 compliance methodology to match your organization’s
approach to risk management.
- Tailor
the affirmation documentation to meet your company's specfic
compliance strategy.
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