SOURCE: OpenPages

August 15, 2005 09:31 ET

OpenPages and PricewaterhouseCoopers Team Up to Reduce the Costs of Sarbanes-Oxley Compliance Audits

New Interoperability Between SOX Express and PwC TeamMate Streamlines Section 404 Audits

WALTHAM, MA -- (MARKET WIRE) -- August 15, 2005 -- OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, and PricewaterhouseCoopers today unveiled new capabilities to further reduce the time and resource costs of Sarbanes-Oxley compliance through interoperability between OpenPages SOX Express and PricewaterhouseCoopers TeamMate. Interoperability between SOX Express and PwC TeamMate enables companies to leverage the testing and review expertise within their internal audit organizations to further streamline Section 404 audits.

"In Year Two of the Sarbanes-Oxley era, organizations continue to seek ways to remove costs and inefficiencies from compliance processes," said Peter Morgan, vice president of marketing at OpenPages. "Extending SOX Express to be interoperable with PwC TeamMate further enhances our ability to adapt to the way our customers work, allowing them to use their tools of choice to reduce learning curves and maximize efficiency."

PwC TeamMate, a leading audit management system is used by over 36,000 auditors from over 1,000 organizations. When used in an integrated mode with SOX Express, an organization's internal audit staff can export internal control and plan information documented in SOX Express into PwC TeamMate. Auditors then use PwC TeamMate to audit those controls and export the final results back into SOX Express.

"PricewaterhouseCoopers is pleased to enter into this strategic alliance with OpenPages. We are excited by the possibilities that this alliance opens up for internal audit departments," said Mike Gowell, managing director at PricewaterhouseCoopers. "We strongly believe that the interoperability between PwC TeamMate and Sox Express will drive significant efficiencies into the Section 404 audit process."

OpenPages SOX Express is the market-leading software solution for reducing 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 end-to-end compliance 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 is the leading provider of enterprise governance, risk and compliance management (GRCM) software solutions. OpenPages' solutions 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 SOX Express, the market-leading enterprise application for automating the compliance requirements of Sections 404 and 302 of the 2002 Sarbanes-Oxley Act, and OPtimum ORM, an enterprise risk management software solution that enables entities to identify, analyze and manage operational risk on an integrated, company-wide basis. The world's largest corporations in diverse markets -- including financial services, manufacturing, telecommunications, media/entertainment, retail/consumer, energy, high technology, health services and life sciences -- rely on OpenPages for cost-effective, efficient, sustainable governance, risk and compliance management. The company is headquartered in Waltham, Massachusetts, with international headquarters in the United Kingdom and Hong Kong, and regional offices throughout North America.

About PricewaterhouseCoopers

PricewaterhouseCoopers (www.pwc.com) provides industry-focused assurance, tax and advisory services for public and private clients. For more information on PwC TeamMate visit www.pwc.com/teammate.

Unless otherwise indicated, "PricewaterhouseCoopers" refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.

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

PricewaterhouseCoopers TeamMate is a trademark of PricewaterhouseCoopers. All rights reserved.

Contact Information