Compliance.I-many Inc., a provider of enterprise contract management solutions, has announced the availability of the I-many Sarbanes-Oxley Suite, which provides many key internal controls and reporting capabilities needed for compliance with the Sarbanes-Oxley Act See SOX. of 2002. The I-many Sarbanes-Oxley Suite helps to establish internal controls through a comprehensive set of contract administration tools that facilitate contract-related tasks, events and milestones. Sophisticated compliance functionality tracks and measures key performance indicators Key Performance Indicators (KPI) are financial and non-financial metrics used to quantify objectives to reflect strategic performance of an organization. KPIs are used in Business Intelligence to assess the present state of the business and to prescribe a course of action. , enabling full visibility and enhanced financial reporting across all types of contracts enterprisewide. The suite leverages and complements existing enterprise resource planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. systems in order to verify contract data, which is an integral part of the Act's language and intent. I-many's Sarbanes-Oxley Suite features a centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. , Web-based searchable repository where all contracts enterprisewide can be stored for immediate access. With enhanced contract visibility, companies and their auditors can quickly and easily gather data and information that can be used to comply with the Act's requirements. Specific to the Act's reporting requirements, the I-many Sarbanes-Oxley Suite provides the ability to track compliance, aggregate and summarize the contractual obligations and performance of a company enterprise-wide. Armed with this intelligence, companies can better understand how to continuously improve internal controls and contract performance and take immediate corrective action A corrective action is a change implemented to address a weakness identified in a management system. Normally corrective actions are instigated in response to a customer complaint, abnormal levels if internal nonconformity, nonconformities identified during an internal audit or if it is warranted. Edison, N.J.-based I-many says that more than 250 life science, consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , food service and manufacturing companies use its solutions. Web: www.imany.com |
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