Business Software mitigates compliance audit risks for organizations.
Press Release Summary:
Ensuring that regulated businesses in energy, financial services, and healthcare industries are audit ready, Cameo(TM) eCompliance enables transfer of knowledge regarding business policy management. Program maintains traceability between hardcopy documents, corporate goals, strategies, policies, and business rules, allowing companies to maintain regulatory compliance. Deployed on or off premise, its transparency control center operates via web browser.
Original Press Release:
Cameo(TM) eCompliance Brings Next Generation Full Transparency to Enterprise GRC
No Magic Delivers an Affordable Solution Mitigating Compliance Audit Risks For Companies in the Energy, Financial Services and Healthcare Industries
HOUSTON, May 6 / / - TechConnect World - No Magic, Inc. announced today at TechConnect World, the general availability of Cameo eCompliance at cost-effective pricing. This powerful software solution provides a validated process reinforced by a set of tightly integrated components that work together to ensure that regulated entities in the Energy, Financial Services and Healthcare industries are "audit ready." As more and more companies are being scrutinized through federal and industry regulations, the need for a structured system is paramount to support not only measuring compliance to existing laws but also determine future compliance to new regulations as they are announced.
Most all industries throughout the world are impacted by current and pending regulations. A few of the more common regulatory bodies include the SEC, FDIC, FERC, NERC, FDA, CMS, State and International agencies. Cameo eCompliance maintains the traceability links between the hardcopy documents, corporate goals, strategies, policies and business rules so an organization can sustain proper compliance activities. Primary deployment of the software solution can be either on or off client premises since the main transparency control center requires only a web browser.
"With the advent of more policies, rules, and multiple regulations, it is clear that an organization of any size must look to proven technologies to help manage all of this chaos. With compliance assessment fees now reaching one million dollars per day, even for a single infraction, no corporate enterprise can ignore compliance issues without putting their entire business at risk," said Gary Duncanson, President and CEO of No Magic, Inc. and Board of Director Member at the Object Management Group (OMG). "Our new fourth generation compliance solution has been fully tested and validated at existing sites. We now are pleased to be introducing our Cameo eCompliance solution as one of the most cost-effective offerings of its kind in the industry. It can help in both adding structure to an organization's existing compliance process as well as suggesting improved methods to ensure full compliance to avoid paying costly fees."
A key benefit of Cameo eCompliance is the transfer of knowledge regarding Business Policy Management. The Policy Management Process provides a proven methodology, a set of workflows, activities and artifacts that enable organizations to:
- Discover the existence and characteristics of policies in legacy
documents
- Model the current state of policy compliance with management
objectives and regulations
- Assess the behavioral objectives stated in the policies and evaluate
their ability to be enforced by manual or automated processes
- Identify contradictions in policy collections
- Determine a plan of action for maximizing compliance with policy
objectives
About No Magic, Inc.
One of the most respected providers of standards-compliant architecture and business modeling offerings in the industry celebrates its 11th year anniversary of its product line this year. The Cameo Suite supports the full enterprise application life-cycle from business requirements/planning through and including final testing with award-winning, OMG® standards-compliant products that efficiently model your organizational structure, business processes, applications, information and technology. MagicDraw® supports multiple domain-specific models based on UML including: BPMN, SysML, DoDAF/UPDM, MDD, SOA, unit testing, data modeling and more. Professional services include training, consulting, custom applications and MagicDraw product customizations such as custom modeling domain diagrams, requirements management, team collaboration, design and analysis.
Founded in 1995, No Magic, Inc. is headquartered in Plano, Texas with operations worldwide. More information can be found by visiting http://nomagic.com/.
Source: TechConnect World
