Captara Corporation Announces Sarbanes-Oxley Reporting Solution for Capex Finance Obligations.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- Captara Corporation, a provider of business process management solutions for capex finance, today announced the availability of its Sarbanes-Oxley Reporting Application. Among other requirements, the Sarbanes-Oxley Act See SOX. demands that a company's annual and quarterly reports disclose all material off-balance sheet financial obligations and amounts due under specified contractual obligations such as lease arrangements, loans and other debt instruments. The end-to-end Captara solution enables corporations to gain visibility and control over all enterprise capex finance activity. It allows them to efficiently consolidate and report financial disclosures, avoid incomplete reporting and potential management liability. In addition, the Captara solution generates millions in savings by creating best practices and implementing process efficiencies. A front page Wall Street Journal article on September 22, 2004 detailed the critical nature of asset financing Asset Financing Using balance sheet assets (such as accounts receivable, short-term investments or inventory) to obtain a loan or borrow money - the borrower provides a security interest in the assets to the lender. obligations in Corporate America. The article noted that the amount of these obligations is large: companies in the S&P 500 carry over $480 billion just in off-balance sheet operating lease Operating Lease A lease contract that allows the use of an asset, but does not convey rights similar to ownership of the asset. Notes: An operating lease is not capitalized it is accounted for as a rental expense. commitments alone. Therefore, accurate reporting of this information is paramount to effective corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. . "Before companies can appropriately report on their asset financing obligations, they must have visibility into and control of financing activities across the enterprise. Captara provides optimized business processes for the planning, sourcing, execution, management and reporting of all phases in this critical enterprise function," said Michael Caglarcan, 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 Captara. "The solution is comprehensive, easy-to-deploy, provides compliance with Sarbanes-Oxley, and is being increasingly relied on as evidenced by our growing roster of Fortune 2000 clients." The Captara solution delivers visibility into and control of the complete capex finance lifecycle, from policy creation and deployment to compliance monitoring and reporting. Key reports include disclosure of capital leases, operating leases, loan payments and other material disclosures, enabling compliance with FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (FASB). and Sarbanes-Oxley. Other reports include transaction listings, notification summary, asset management, lender transactions, evergreen evergreen, term commonly used as synonymous with conifer and applied also to all those broad-leaved plants that bear green leaves throughout the year. Of the latter, most are plants of the tropics, subtropics, and other areas where the growing season is prolonged (e. warnings, and payment summaries. For more information about the Captara solution, please contact info@captara.com or call 800/973-7830. About Captara Captara is the business process management solution for capex finance. Our web applications and services deliver optimized processes that provide visibility and control, regulatory compliance and dramatic savings. For more information, please visit www.captara.com. |
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