SOURCE: OpenPages

August 15, 2005 09:22 ET

OpenPages Sox Express 3.1 Introduces New Capabilities to Further Reduce the Time and Resource Costs of Sarbanes-Oxley Compliance

Market-Leading Sarbanes-Oxley Compliance Application Raises the Bar With Enhanced Reporting & Dashboards, Integration With Third-Party Applications

WALTHAM, MA -- (MARKET WIRE) -- August 15, 2005 -- OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced the availability of SOX Express 3.1, the newest version of the company's market-leading application for compliance with Sections 302 and 404 of the Sarbanes-Oxley Act. Available now, SOX Express 3.1 streamlines corporate compliance efforts through new integration with best-of-breed third-party applications, enhanced dashboard and reporting capabilities and further enhancements to the products' unparalleled ease-of-use and administration.

"SOX Express 3.1 continues OpenPages' tradition of working closely with its customer base to develop and introduce new capabilities for sustainable compliance," said Patrick O'Brien, director of product management at OpenPages. "In this newest release, OpenPages has implemented a number of enhancements that continue to ease the burdens of compliance while improving business decision support throughout the company."

OpenAccess API Streamlines Integration with Third-party Compliance Applications

With SOX Express 3.1, OpenPages introduces OpenAccess, the company's web-services-based application program interface (API). With OpenAccess, OpenPages customers can easily, securely and seamlessly integrate SOX Express with best-in-class applications, such as audit workpaper, continuous controls monitoring and automated controls testing. The bi-directional data exchange enables customers to incorporate specialized applications into compliance processes for greater time and cost savings.

Examples of OpenAccess integration, also announced today include:

    
--  OpenPages and PricewaterhouseCoopers unveiled interoperability between
    OpenPages SOX Express and PricewaterhouseCoopers TeamMate, the industry
    standard in audit management software. 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. (See "OpenPages and PricewaterhouseCoopers Team Up to
    Reduce the Costs of Sarbanes-Oxley Compliance Audits," 8/15/2004.)
    
--  OpenPages and Greenlight Technologies, today announced new
    capabilities for SOX Express that provide OpenPages customers the ability
    to fully automate many manually intensive IT controls commonly required for
    Sarbanes-Oxley compliance. Available immediately, Greenlight for SOX
    Express provides companies with more than 1,500 control automations for
    leading enterprise applications including Oracle, SAP and Peoplesoft. (See
    "OpenPages Reduces Cost of Sarbanes-Oxley Compliance with Advanced
    Automation Capabilities," 8/15/2004.)
    
--  OpenPages and Oversight Systems today announced new capabilities for
    continuous monitoring of Sarbanes-Oxley processes. The combination of
    OpenPages' SOX Express and Oversight 3.5 will enable organizations to merge
    internal controls test and review information with real-time transactions
    and business activities in financial systems to prevent risk, fraud and
    error in core business processes including Order to Cash; Procure to Pay;
    Employee Pay; Financial Accounting and Reporting; and Capital Projects and
    Fixed Assets. (See "OpenPages and Oversight Systems Partner to Provide real-
    time transaction inspection for sarbanes-oxley compliance," 8/15/2004.)
    
Enhanced Dashboards and Reporting with OpenPages CommandCenter

SOX Express 3.1 also features CommandCenter, an enhanced suite of executive dashboards and reports designed to accelerate review and approval of governance, risk and compliance management (GRCM) information throughout the enterprise. CommandCenter provides management with a graphical view into the current state of their organization's internal controls framework and potential risk exposures, providing complete confidence in the effectiveness of GRCM initiatives.

More than a static snapshot, CommandCenter enables users to navigate through real governance, risk and compliance information -- status and progress of risks, controls, issues and exceptions -- through a full array of graphical options such as pie charts, heat maps, tables, stoplights and period-over-period trends. The intuitive, easy-to-navigate interface provides users with immediate and easy access to sub-reports and details data for superior exception monitoring. (See "Cognos and OpenPages Extend Technology Agreement to Deliver Enhanced Compliance Dashboard and Reporting Capabilities," 8/15/2004.)

In addition to OpenAccess and CommandCenter, SOX Express 3.1 includes a number of usability and administration enhancements, further improving the application's already easy-to-use interface and minimal impact on IT staff.

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.

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

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