Captaris Debuts SOX Compliance Solution
04/07/2004
Captaris (NASDAQ: CAPA), a provider of business information delivery solutions, today announced the launch of the Captaris Teamplate Sarbanes-Oxley (SOX) Accelerator. Captaris says, “The SOX Accelerator enhances the Microsoft Office Solution Accelerator for Sarbanes-Oxley to provide expanded control, business process workflow and reporting capabilities.”
Captaris offered the following details:
Microsoft's accelerator uses Microsoft Office InfoPath 2003 to capture and manage metadata as well as Microsoft Windows SharePoint Services for team collaboration and as a document repository. The Captaris Teamplate SOX Accelerator expands Microsoft's offering by incorporating business process workflow, visual process execution, process mapping capabilities, task assignment and notification, issue escalation, process status metrics, and progress reporting mechanisms.
"Organizations with Sarbanes-Oxley and other financial disclosure compliance requirements should consider multi-vendor offerings with comprehensive and rapidly deployable tool sets," according to Lane Leskela, Research Director at Gartner, Inc.
The Captaris Teamplate SOX Accelerator focuses on section 404 of the Sarbanes-Oxley Act, which requires organizations to complete an annual assessment of their internal controls. It also provides the framework to address sections 302 (quarterly reporting), 409 (material event reporting), and 806 (anonymous whistle blowing). In addition, organizations are able to leverage the business process models used to comply with Sarbanes-Oxley regulations as a first step to improve their business operations, mitigate risks, and streamline future compliance reporting. "In reality, compliance management is all about process and structure," said Brent Stankowski, president of Teamplate, the business process automation operation of Captaris, Inc. "And expanding that framework throughout the entire business will not only accelerate future reporting, but will also reduce risks and increase operational efficiency."
Captaris builds upon the Microsoft Office Solution Accelerator for Sarbanes-Oxley with business process workflow to assist compliance managers adopting the COSO framework for overall compliance. By providing this assistance to manage the overall process, organizations can minimize risks and maximize the productivity for those people involved. "Captaris is doing exactly the right things for its customers," said Peter Rinearson, vice president of Microsoft's Information Worker New Markets group. "It has taken the strong foundation laid by the Microsoft Office Solution Accelerator for Sarbanes-Oxley and enhanced it with its own business-process workflow and notification and reporting features. The result is an affordable Sarbanes-Oxley solution that lets customers solve a critical business problem using the familiar Microsoft Office System environment."