webMethods Introduces Continuous Controls Monitoring Solution for Sarbanes-Oxley and Other Regulatory Requirements
July 18 2005 - 9:00AM
PR Newswire (US)
webMethods Introduces Continuous Controls Monitoring Solution for
Sarbanes-Oxley and Other Regulatory Requirements webMethods for
Compliance Helps Sustain Compliance Initiatives by Continuously
Monitoring the Accuracy and Validity of Business Processes,
Transactions and Control Points FAIRFAX, Va., July 18 /PRNewswire/
-- webMethods Inc. (NASDAQ:WEBM), a leading business integration
and optimization software company, today debuted webMethods for
Compliance, a new solution designed to verify the completeness,
accuracy and validity of transactions and business processes in
accordance with the Sarbanes-Oxley Act and other regulatory
requirements. Built with the technology components of webMethods
Fabric(TM), this new solution provides businesses with the ability
to continuously and automatically monitor their compliance control
points without the risks or costs associated with manual testing
and controls. At the same time, the process integration, assembly
and optimization capabilities offered by webMethods for Compliance
can also be used to further streamline and enhance these
fundamental operations, which means enterprises can use their
compliance investments to achieve continuous process improvements
as well. Building and sustaining compliance controls has proven
costly for most corporations. According to AMR Research's John
Hagerty [AMR Research Alert - Active Compliance is Becoming a
Reality March 24, 2005], "Making compliance repeatable,
sustainable, and cost-effective must become the priority for
ongoing investment. Continuous monitoring and automated testing is
maturing in approach and applicability to be considered for
evaluation now rather than later." Without standardized business
processes, or integration between business units or divisions,
companies often rely on manual monitoring and spot-testing to
verify compliance agreement, which provides limited predictability
or certainty. Alternatively, webMethods for Compliance brings
extended visibility into these high risk enterprise business
processes, provides for continuous monitoring of process controls,
and standardizes and automates resolution procedures. As such,
enterprises can significantly reduce compliance costs and realize
other benefits through the automation and real- time monitoring
operations enabled by webMethods for Compliance. "The monitoring,
analysis and evaluation of internal controls is labor intensive,
costly and often fails to flag issues in time to take corrective
action," said Arnold Huffman, vice president, Global Strategic
Business Solutions, webMethods Inc. "webMethods for Compliance
leverages the proven capabilities of our business integration
product suite to fully monitor critical business processes so that
real-time alerts of potential and actual violations can be
consistently enacted. Automation of this process is critical and
can produce significant savings for the corporation." Designed for
rapid implementation, webMethods For Compliance encompasses the
following components within an integrated platform: * Business
process automation and management -- Allows business users to model
and execute business processes encompassing a variety of certified
requirements, such as e-Signoff and other authenticated approvals.
* Continuous controls and monitoring -- Mitigates risks by
proactively identifying material events and violations in
real-time. * Compliance dashboard -- Provides users with
additional, end-to-end process visibility with correlations to key
performance indicators, graphically depicted. * Document management
-- Improves and secures information flow by controlling and
managing all control and disclosure procedures. One of the key
benefits offered by webMethods for Compliance is greater
predictability by which enterprises can track key real-time
operational and business metrics without the need for additional
programming. Furthermore, these monitoring and alerting features
also provide users with the ability to better anticipate and
predict future patterns in business operations based on comparison
with past activity for a given time of day, day of the week, and
time of year. Alerts are automatically triggered when key
performance indicators or control points move out of range relative
to historical norms and the previously-seen anomalies detected with
webMethods' patent-pending 'fingerprinting' technology.
Additionally, having faced the need to fully document and test
their core business processes in compliance with Sarbanes-Oxley and
other mandates, enterprises today have a far greater understanding
of the numerous weaknesses, bottlenecks and manual execution
inherent in many of these processes. Through the use of webMethods
for Compliance, enterprises can take advantage of a single
integrated platform to not only monitor these processes for ongoing
compliance, but to also automate and optimize them for improved
business performance and additional cost savings. "In today's
regulatory climate, there are many vendors offering compliance
solutions. Many of these compliance solutions focus on the
documenting and reporting aspects of regulatory compliance. These
are important, but only part of the technology needs," said Lee
Dittmar, principal, Deloitte Consulting. "Automated controls
monitoring will be an important area of focus. Plus, many CFO's
today are leveraging their compliance efforts as an opportunity for
business improvements. Technology is key to supporting these
broader efforts, addressing both compliance and performance."
Pricing and Availability The webMethods For Compliance solution is
available immediately with pricing available directly from
webMethods. About webMethods, Inc. webMethods (NASDAQ:WEBM)
provides business integration software to integrate, assemble and
optimize available IT assets to drive business process
productivity. webMethods delivers an innovative, enterprise-class
business integration platform that incorporates proven integration
technology with next generation capabilities into one interoperable
set of tools that delivers a unique combination of efficiency,
agility and control. webMethods combines industry leadership with a
zealous commitment to customers to deliver tangible business value
to more than 1,300 global customers. webMethods is headquartered in
Fairfax, Va., with offices throughout the U.S., Europe, Asia
Pacific and Japan. More information about the company can be found
at http://www.webmethods.com/. The webMethods name and logo are
registered trademarks, and webMethods Fabric is a trademark, of
webMethods, Inc. in the United States of America and certain other
countries. All other marks mentioned are trademarks or service
marks of their respective companies. DATASOURCE: webMethods Inc.
CONTACT: Brenda Hansen of webMethods Inc., +1-703-460-5847, or Web
site: http://www.webmethods.com/
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