Developers of Hydrogen Battery Technology Choose BI International SOX Tool
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Aline4SOX is preferred module for SOX Compliance of Millennium Cell
MALVERN, Pa., Nov. 7 -- Business Intelligence International (BII), developers of the on-demand Aline(TM) Governance, Risk and Compliance plus Performance (GRC+P) platform, announced today that Millennium Cell (NASDAQ:MCEL), a leading developer of hydrogen battery technology, selected its Aline4SOX tool to automate the company's Sarbanes-Oxley compliance program.
Aline4SOX is a web based, user-friendly, Software as a Service (SaaS) solution for Sarbanes-Oxley Sections 404 and 302, allowing companies to automate and streamline the SOX process while reducing their total cost of compliance.
BI International has created a turnkey solution specifically for the Non-Accelerated Filer market called CompleteCompliance. The solution contains a best practice library of risk and control frameworks which provide a baseline to start with instead of working from a clean slate. As a result, Non-Accelerated filers can be up and running in weeks instead of months, and without any internal IT requirements since it is a hosted solution.
"As a non-accelerated filer experiencing our first year of SOX compliance, we want to make sure that our internal control systems are designed right the first time and that we can keep track of our controls and test results," John Giolli, CFO of Millennium Cell said. "We chose Aline SOX software because of its easy to use interface and deep collection of key control documentation templates that helps us document and manage SOX requirements more quickly and easily.
"Being a small company as we are, managing costs is very important so we are relying on Aline to ensure we do just the right amount of work to meet the SOX standard."
CompleteCompliance provides companies with a single repository of all SOX data, dynamic update of standard deliverables, as well as integrated on-line project management reporting and powerful analytics.
Like other non-accelerated filers, Millennium Cell found Aline4SOX to be the quickest, most cost-efficient way to begin its path towards compliance. The simple, yet comprehensive, methodology of Aline4SOX proved to be a good fit for not only their immediate compliance but future efforts as well, Giolli said.
"Our goal is to help our Non-Accelerated filer clients achieve SOX compliance as rapidly as possible and with minimum resources. Our built-in best practice library gives our clients a great starting point to perform a Risk Based Assessment for their company, and can quickly determine what documentation and testing is required to achieve compliance. This significantly shortens the 'time to compliance'," said Bill Tomassini, SVP of Sales and Operations for BI International. "We look forward to working with Millennium Cell to achieve their SOX goals and their implementation partner Withum, Smith and Brown, GA".
Aline4SOX, which was included earlier this year as a niche player in Gartner, Inc.'s Magic Quadrant Research Study for Finance Governance, Risk and Compliance Management (GRCM) Software, is the only on-demand solution proven to reduce the cost and time of SOX compliance by up to 50% and transform compliance into sustainable business improvement.
About Millennium Cell
Millennium Cell is a leader in the development of hydrogen battery technology used to power portable applications. Through its proprietary Hydrogen on Demand® fuel cartridges and PowerSkin(TM) fuel cell modules, the Company provides increased energy density resulting in longer runtime and lighter weight in a compact space. The Company is working with market partners to meet the demand for a better battery in the military, medical, industrial and consumer electronics markets. For more information, visit www.millenniumcell.com.
About Business Intelligence International (BII):
Business Intelligence International (BI International) is a global software and consulting company specializing in the development of web-based business-intelligence solutions to provide GRC + P functionality to companies of all sizes. Since 1996, BI International has provided robust, flexible and secure solutions to enable customers worldwide to cost-effectively manage their compliance, risk and performance initiatives.
Leveraging its Aline(TM) platform, BI International offers a suite of affordable yet powerful and easy-to-use tools that provide a single repository of data along with integrated analytics and standard reporting. This allows clients to gain real time visibility to critical information to identify key issues and driving critical decision-making. Visit www.aline4value.com for more information.
Source: Business Intelligence International
CONTACT:
Bill Tomassini
of BI International,
+1-610-993-0100, or
+1-877-ALINE-BII,
btomassini@aline4value.com
Web site: www.aline4value.com/
