Compiled ByTraci Purdum To help companies comply with the Sarbanes-Oxley Act, Documentum, a provider of enterprise content management, and BearingPoint Inc., a business consulting and systems integration firm, have teamed to provide the Documentum/BearingPoint Corporate Governance and Compliance solution. The solution will help companies plan, assess and implement procedures needed to meet mandatory Sarbanes-Oxley requirements for internal controls and certification of financial statements, say the companies. "Regulatory changes and impending compliance deadlines demand a rapid shift in CFO and CEO priorities," says Andrew Warzecha, senior vice president and service director at META Group Inc., a Stamford, Conn.-based provider of information technology research. "Accuracy, timeliness, transparency and completeness of financial reports are now mandatory requirements with company executives personally responsible for ensuring compliance." According to the companies, the solution includes processes, controls and technology components that can be tailored to meet unique compliance requirements. Some of the key components of the solution include:
- Enterprise Controls and Records Repository -- provides a secure, centralized environment and repository to manage financial procedures and reports. It also enables companies to automatically capture, share, track, archive and eventually destroy financial reports and records and corporate communications including e-mail and business transactions.
- Expedited Securities and Exchange Commission Reporting -- automates and records the collection, compilation, review, formatting, publication, archival and disposition of financial records and related documents. Helps to accelerate accurate 10K and 10Q reporting.
- Compliance Digital Workplaces -- a series of digital workplaces can be used to channel content to targeted recipients, enable real-time meetings and discussions and facilitate collaborative management of relevant content.
