Cost-effective solution features pre-built financial models for
six core transaction processes and associated internal controls
GARTNER SYMPOSIUM/ITxpo, ORLANDO, Oct. 21 /PRNewswire/ -- Proforma
Corporation, the leading U.S. provider of enterprise-wide business process
modeling and simulation software, today introduced the Sarbanes-Oxley Express
-- a series of pre-built best practice financial process and control models
that helps companies quickly and effectively meet demands of the Sarbanes-
Oxley Act.
Created in collaboration with audit and financial reporting experts,
Sarbanes-Oxley Express features models for six core transaction processes and
their associated internal controls: cash disbursements, cash receipts,
payroll, purchasing, inventory and revenue. In addition, Sarbanes-Oxley
Express includes a generic financial reporting model, based on best practices
in financial reporting. This solution is housed within Proforma's ProVision,
the premier visual process modeling environment on the market. It was
announced at the Gartner Symposium/ITxpo in Orlando.
"Compliance with the requirements of the Sarbanes-Oxley Act, particularly
for documentation of financial processes and internal controls that pass
external auditors' scrutiny, has resulted in significant increases in
expenditures for external audit, legal and consulting fees, not to mention the
increase in man-hours for already overburdened financial staffs," said Janet
Seefried, president of Seefried & Associates and chairman of the Ethics
Committee, Institute of Management Accountants. "Proforma's Sarbanes-Oxley
Express can significantly reduce the time and expense to document financial
processes and controls, while improving the overall quality and accessibility
of the documentation for future maintenance and audits."
Some key components offered by Sarbanes-Oxley Express include:
* Pre-built framework of financial operating and reporting process models
for documentation and improvement initiatives
* Pre-built framework of audit controls and procedures for compliance
(based on COSO and GAAP)
* Financial process and control transparency via the ability to publish
and communicate processes and procedures
* Integrated and auditable repository of financial processes, controls
and procedures in a visual modeling environment
The flexibility of this Proforma offering makes it ideal for organizations
in every phase of Sarbanes-Oxley compliance. For companies that are just
beginning their documentation, the pre-built models in Sarbanes-Oxley Express
serve as an intelligent starting point. For those that have already begun
their documentation using Excel, Visio or Word, models can be easily imported
into ProVision in order to validate their compliance and to create a
sustainable, uniform, cost effective solution to the ongoing review and
maintenance required to comply with annual audits.
"Our solution provides a fast-start rollout using a structured, process-
driven approach to Sarbanes-Oxley compliance," said Ron Pellegrino, president
of Proforma. "In addition, by allowing organizations to standardize business
procedures and share best practices, Sarbanes-Oxley Express will deliver a
long-term return on investment."
Proforma hosts free Sarbanes-Oxley Express webinars each Thursday at
2 p.m. Eastern. To register, visit
http://www.proformacorp.com/news/seminarsprocessimp.asp or contact Proforma at
800-743-1557.
About Proforma Corporation
Proforma is a leading global provider of business process management
solutions. The company's flagship software suite, ProVision(TM), provides an
enterprise-wide process modeling environment that enables companies to quickly
visualize, improve and implement the most cost effective and efficient
business processes and systems. ProVision's sharable repository of integrated
strategy, process and system models provides the framework to effectively
model all dimensions of the enterprise and support initiatives such as process
improvement, Six Sigma, ISO certification, enterprise architecture, Sarbanes-
Oxley compliance, requirements definition and application development.
Proforma customers include General Motors, American Express, HP, EDS, IRS, DoD
and PeopleSoft. Please visit http://www.proformacorp.com for more information.
About Gartner Symposium/ITxpo
Gartner Symposium/ITxpo is the IT industry's largest and most strategic
conference, proving business leaders with a look at the future of IT. For
more than 10,000 IT professionals from the world's leading enterprises,
Gartner's annual Symposium/ITxpo events are key components of their annual
planning efforts. Attendees are responsible for more than $35 billion in IT
spending for their respective companies, and rely on Gartner Symposium/ITxpo
to gain insight on how their organizations can use technology to address
business challenges and improve operational efficiency. For more information,
please visit http://www.gartner.com/us/symposiumorlando .
Contact: Michelle Bretscher, Public Relations Director
mbretscher@proformacorp.com
614-470-6088
SOURCE Proforma Corporation
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Related links:
http://www.proformacorp.com
http://www.proformacorp.com/news/seminarsprocessimp.asp
http://www.gartner.com/us/symposiumorlando
CONTACT:
Michelle Bretscher, Public Relations Director
of Proforma Corporation, +1-614-470-6088,
mbretscher@proformacorp.com
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