Ongoing Monitoring Tools For Sarbanes Oxley Act Compliance
Santa Clara, California: January 22, 2004 - InfoSTEP today announced the availability of monitoring capability for internal controls in its flagship solution "eLustroHarmony" to help companies with Sarbanes Oxley Act compliance.
eLustroHarmony empowers internal audit and business managers to monitor the progress of compliance as per predefined controls. Stakeholders can identify laggards, pinpoint deficiencies and take corrective actions before the certification process is initiated. The tools provide anytime anywhere access to the management to measure and monitor compliance across the business processes within the enterprise. By automating the routine tasks of launching periodic assessment programs, progress reports and escalations, the audit team reaps the benefits of the efforts spent during the initial compliance phase on an ongoing basis.
eLustroHarmony helps in managing the following key information and procedures:
* Program Management: Management of assessment programs for measuring the health of internal controls
* Risk and Control Catalog Management: Classification of internal controls based on likelihood and impact of the related risk areas
* Issue Tracking: Communicating with Process and Control owners
* Control Assessments: Recording and handling of exceptions resulting from assessment programs
* Monitoring: Ability to monitor the progress of compliance across the business systems
* Reporting: Documentation and Reporting of internal controls for certification
* Executive Dashboard: Analyzing the overall maturity of internal control environment for suitability and effectiveness
"We are noticing a trend among our customers towards automating ongoing monitoring activities beyond the initial compliance. Achieving initial compliance is just an end of the beginning. In absence of strong processes leveraging technology, maintaining status quo for the internal control environment alone could take up all available resources. To automate these activities, we have now added strong monitoring capabilities into our eLustroHarmony suite" says Sagar Anisingaraju, CEO of InfoSTEP Inc. "Using eLustroHarmony, CFOs, Audit Directors, Process Owners and Control Owners can track and monitor the progress of various internal controls across the enterprise. Empowerment and accountability are both institutionalized in this monitoring activity."
About InfoSTEP
With headquarters in Santa Clara, California, InfoSTEP has been providing pioneering software solutions to the global enterprises since
1998. InfoSTEP's eLustro product suite is successfully deployed at several enterprises including Cisco Systems, Oki Semiconductors & Sun Microsystems. eLustroHarmony is a Risk Management and Control Assurances application built on top of eLustro suite.
