SOURCE: OpenPages

July 05, 2005 10:58 ET

Commerce Bancshares Selects OpenPages SOX Express for Sarbanes-Oxley Compliance

WALTHAM, MA -- (MARKET WIRE) -- July 5, 2005 -- OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that Commerce Bancshares, Inc. (NASDAQ: CBSH) has selected OpenPages Sarbanes-Oxley Express (SOX Express) for its Sarbanes-Oxley compliance initiatives. Commerce Bancshares will deploy SOX Express to automate the company's ongoing test and review of its internal controls documentation in order to reduce the time and resource costs associated with Section 404 and 302 compliance.

Commerce Bancshares is a registered bank holding company offering a full line of banking services, including investment management and securities brokerage. The Company currently operates in approximately 330 locations in Missouri, Illinois, and Kansas. The Company also has operating subsidiaries involved in mortgage banking, credit related insurance, venture capital, and real estate activities.

"We chose SOX Express due to its extreme flexibility -- the software is easily configured to match our unique entity structure and our approach to SOX attestations and certifications," said Wayne McGaugh, SOX audit director at Commerce Bancshares. "By providing interoperability with our current work paper tool, SOX Express will help use to realize additional cost savings and inefficiencies around Section 404 audits."

OpenPages SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404 of the Sarbanes-Oxley Act. SOX Express combines powerful document management, business process management and flexible reporting capabilities in an extremely easy-to-use environment that enables an organization to document financial controls and automate the ongoing test and review process. Completely web-based, SOX Express maximizes end-user participation with little training. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls framework of the company, and to attest to the financial statements.

For more information on OpenPages' line of enterprise governance, risk and compliance management solutions or to register for a weekly webinar, please call 781-647-3800 or visit www.openpages.com.

About OpenPages

Founded in 1996, OpenPages develops enterprise governance, risk and compliance management (GRCM) solutions that streamline knowledge-intensive processes to improve corporate accountability, reduce disclosure process cost, enhance internal controls management productivity, and increase investor confidence. The company's portfolio of solutions includes Sarbanes-Oxley Express (SOX Express), the market-leading enterprise application for automating the corporate financial reporting and disclosure compliance requirements of Sections 404 and 302 of the 2002 Sarbanes-Oxley Act.

OpenPages is a trademark of OpenPages, Inc. All other trademarks contained herein are the property of their respective owners.

Contact Information

  • OpenPages
    Ed Thomas
    OpenPages
    781.647.3800, ext. 241
    Email Contact

    North America
    Mike Antonellis
    Lois Paul & Partners
    781.782.5832
    Email Contact

    Europe
    Louise Matthews
    Harvard Public Relations
    +44 208 759 0005
    Email Contact