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Home | Business | Management Extended Support for Financial Compliance Up to now, traditional business performance management solutions alone have not been able to meet the increasingly complex regulatory requirements for financial governance, risk and compliance. But with the addition of finance GRC functionality, the Cartesis 10 BPM solution will help companies to comply with global compliance legislation by supporting the management, workflow, documentation and reporting associated with financial reporting and disclosure, which are required by SOX and other similar regulations. “Global regulatory requirements are a fundamental part of doing business today, but now companies are actively looking for ways to better manage the costs and processes associated with financial compliance,” says Didier Benchimol, CEO of Cartesis. One way to accomplish this is through the alignment of all compliance systems, which enables companies to rationalize controls, improve accuracy, simplify processes and gain a cost advantage. Cartesis Governance provides support for a range of compliance legislation including Sarbanes-Oxley, Loi de Sécurité Financière, J-SOX, Tabaksblat, and so-called Euro-SOX requirements, which will be implemented under local member state law through 2008. A combination of internal development and third-party technology, Cartesis Governance will integrate with Cartesis Finance and Cartesis Analytics applications. Users to Benefit From Market Convergence “The finance GRC and business performance management markets have, to date, operated independently from each other,” says Kathleen Wilhide, research director, Compliance and Performance Management solutions at IDC. “As a result, companies struggle to rationalize key controls and create sustainable financial reporting and compliance processes. We're predicting a convergence in these markets which will result in substantial benefits for users who adopt a more unified approach to finance GRC and financial performance management. Cartesis is the first business performance management vendor to actively respond to this by offering finance GRC as a core part of its financial reporting and performance management suite.” Cartesis Governance will deliver a framework for modeling risk and control, which will include control testing, documentation, issue and task management, compliance reporting and dashboards, all of which are needed to address global compliance requirements more easily. “This expansion of our business performance management software suite represents significant growth opportunity for Cartesis and furthers our commitment to solving problems for the CFO,” says Benchimol. “We are already entrusted to the financial compliance and consolidation processes at the world's largest companies so it makes perfect sense for us to enter this market.” Article Source: http://www.articlewheel.com
James Fisher and Dean Lombardo
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