Approva Announces New Version of BizRights Platform; Version 3.0 of Industry-leading Enterprise Controls Management Platform Enhances Scalability and Enables Integration with Complete Compliance Ecosystem.RESTON, Va. -- Approva(R) Corporation, the leader in continuous controls intelligence software for global enterprises, announced the availability of a new version of its core BizRights(R) platform. This next generation system enables organizations to monitor and analyze a broad array of enterprise controls. Intelligence provided by BizRights goes beyond compliance requirements Compliance requirements are a series of directives established by United States Federal government agencies that summarize hundreds of Federal laws and regulations applicable to Federal assistance (also known as Federal aid or Federal funds). to manage and improve operational efficiency. The Approva BizRights platform, an extensible, scalable and comprehensive controls management system designed for the world's largest business environments, automates the testing and monitoring of internal controls and business processes across the enterprise. It is the only platform that provides continuous controls intelligence across leading business software systems, including SAP, Oracle, PeopleSoft and Hyperion, as well as other systems such as legacy applications, and interfaces directly with document management and identity management applications. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a 2003 study by The Hackett Group, the average $1 billion company has 48 financial systems in place. The BizRights platform is designed to meet the needs of large organizations by providing a solution that is flexible enough to support multiple applications, offer scalability to support business expansion and provide peace of mind by continuously monitoring business controls. "Approva's execution on their vision around helping us quickly identify, resolve, and continuously monitor any kind of business exception has helped us realize better visibility and automation around our controls process," said Rob Paradise, SAP Security Manager at Air Products and Chemicals. "Today we not only have resolved our segregation segregation: see apartheid; integration. of duties exceptions and access to sensitive transactions, but have developed processes to ensure that our SAP environment remains free of SOD SOD 1 Sphincter of Oddi dysfunction See Biliary dyskinesia2 Superoxide dismutase, see there issues and we only introduce risks that we understand in advance and can apply appropriate compensating controls." The BizRights platform provides the foundation for continuous controls intelligence. The BizRights Audit, Security, and Process Insights leverage the power of the platform and provide process- or function-specific rules, reports, business controls and logic. The BizRights platform is designed to perform complex analysis associated with operational efficiency of large enterprises and can monitor a variety of ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. platforms. The architecture is built on four pillars Four Pillars may refer to:
Rich Content Framework The BizRights platform provides a full complement of business rules that monitors for compliance, inefficiency and fraud. It includes a comprehensive business controls workbench which allows business users to easily create or modify rules to help them manage control definitions enterprise-wide. With version 3.0, the business controls framework has been extended to support control management and testing of additional business systems, such as data warehouses and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against applications. Auditors can now ensure that not only are transaction systems free of segregation of duty violations, but sensitive corporate and customer data is secured. Business Oriented o·ri·ent n. 1. Orient The countries of Asia, especially of eastern Asia. 2. a. The luster characteristic of a pearl of high quality. b. A pearl having exceptional luster. 3. BizRights was architected from inception to enable collaboration across the enterprise. With its web-based interface and plain English Plain English (sometimes known, more broadly, as plain language) is a communication style that focuses on considering the audience's needs when writing. It recommends avoiding unnecessary words and avoiding jargon, technical terms, and long and ambiguous sentences. rules and reports, BizRights is usable by business and IT professionals alike, addressing compliance efforts as well as supporting business decisions and process improvement. Rules and rule books can be designated for use by specific business process owners The process owner is the person who co-ordinates the various functions and work activities at all levels of a process. This person might have the authority or ability to make changes in the process as required, and manages the entire process cycle to ensure performance , and a rich security infrastructure ensures that only the appropriate parties manage relevant control definitions and the violations that are detected for those violations. Application Independence Unlike other controls management offerings which are inherently tied to a single ERP system, BizRights is independent, allowing a higher quality audit across a wide range of ERP systems, without interface dependencies or performance implications. Version 3.0 of the BizRights platform extends integration capabilities to other technology components of a complete controls environment. For example, BizRights has now been deployed and fully integrated with enterprise portals See corporate portal. , identity management systems, and documentation tools at a variety of Fortune 500 companies. Scalable, High Performance Architecture BizRights was designed to monitor users, configurations, and transactions in very large and sophisticated corporate environments. This scalability has been increased with version 3.0, to support analysis across ERP systems with hundreds of thousands of users and roles, and millions of transactions with virtually no impact on production system performance. BizRights can be easily installed in customer environments, and immediately begins uncovering controls violations, inappropriate system settings, and potentially fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. transactions. "Approva's BizRights is a powerful controls platform for managing business exceptions effectively," says Prashanth (PV) Boccasam, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Approva. "No other platform can offer our combination of rich content, independence, and scalability, in a business-friendly environment. BizRights is quickly becoming the de facto standard Hardware or software that is widely used, but not endorsed by a standards organization. Contrast with de jure standard. de facto standard - A widespread consensus on a particular product or protocol which has not been ratified by any official standards body, such as ISO, needed to strengthen controls, improve efficiency, prevent fraud, and reduce the cost of compliance." About Approva Corporation Approva Corporation enables large organizations to transform compliance efforts into competitive advantage. By offering unique, continuous and actionable Giving sufficient legal grounds for a lawsuit; giving rise to a Cause of Action. An act, event, or occurrence is said to be actionable when there are legal grounds for basing a lawsuit on it. insight into business processes, Approva software provides sustainable compliance and delivers improved control, increased profit and enhanced shareholder confidence. The patent-pending Approva BizRights(R) platform is the first product to allow all corporate compliance stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. - including business managers, auditors, and information technology specialists - to collaboratively manage controls and optimize optimize - optimisation related processes. BizRights provides continuous, independent visibility into ERP activity, producing business-friendly reports that both business and IT managers can act upon. The software correlates user, transaction and system setting data against pre-defined and configurable rules to proactively pinpoint control violations and business exceptions. Valuable risk analysis ranks the impact of potential violations for improved prioritization. With BizRights, companies can resolve issues faster, prevent new control conflicts and create complete audit trails for change management. Global brands such as Colgate-Palmolive, Wrigley, Pratt & Whitney and others are reducing the cost of compliance, minimizing business risk and increasing operational efficiency with Approva solutions. For more information visit us at www.approva.net. |
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