Movaris Announces Solution to Enable the Risk-Optimized Enterprise(SM)
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SAN JOSE, Calif., April 3 / -- Movaris, a leader in financial compliance and reporting for the Last Mile of Finance(SM), today announced their expanded solution that transforms the burden of enterprise governance and compliance tasks into business value by tightly integrating business performance with governance, risk and compliance (GRC) efforts. At the heart of this expanded solution is the process-centric, workflow based approach of managing controls that Movaris customers use successfully to manage and govern the Last Mile of Finance(SM). This approach, together with the Movaris Control Management Framework, provides for the central creation, scoping, scheduling, management and reporting of all governance, risk and compliance controls across the enterprise. This expanded solution delivers the industry's most comprehensive and flexible platform that saves organizations both time and money while actively identifying and managing risk.
"The financial close and reporting processes within the Last Mile of Finance(SM) are among the most intricate and complex compliance efforts today," said Eric Keller, CEO of Movaris. "By combining our finance and compliance expertise with our business process technology approach, we have delivered much needed transparency and efficiency for these processes and have revolutionized the compliance, reconciliation and close processes within the Last Mile of Finance(SM). There are many other governance, compliance, risk and performance initiatives across the enterprise that require controls to achieve compliance, mitigate risk and enhance performance and we are certain our approach is the right one to unify these efforts."
Today, GRC efforts are disjointed and dispersed across the enterprise, and often compete for resources with performance management objectives and efforts. Compliance mandates are typically viewed as costly burdens, adding minimal value to the operations of the company. Given the complexity of today's heavily regulated enterprise, many compliance risks are treated equally even though some present more risk than others. Also, the complexity and depth of regulations facing companies can often hide the real threats to the business ranging from missed performance objectives to personal consequences to management for regulatory non-compliance. The challenge is to identify the most significant risks to the business and then to define and execute controls on finance and business operations that can mitigate those risks.
What has been missing is a solution that spans governance, compliance and risks initiatives within the enterprise and tightly links the relevant controls for those activities directly to the operations of the business. The end result is the Risk-Optimized Enterprise(SM) that governs its operations and regulatory efforts based on a set of unified controls and practices that are efficiently performed, managed and reported. The Risk-Optimized Enterprise(SM) is a business that has a high degree of confidence in meeting its governance and compliance as well as business performance objectives.
Questar, a natural gas focused energy company, currently uses Movaris for Sarbanes-Oxley Compliance, Federal Energy Regulatory Commission Standards of Conduct Compliance, and keeping Business Continuity Plans up-to-date. "The main benefit for Questar is having a standard process for compliance," says Jeff West, Enterprise Portfolio Manager at Questar. "We are well-organized and structured with clearly assigned responsibilities," continued Jeff. In the future, the company is looking at using Movaris to help it comply with the Health Insurance Portability and Accountability Act (HIPAA).
The expanded solution, Movaris® Unity(TM), is a comprehensive suite of financial close, enterprise compliance and risk management applications that enables customers to increase their confidence in enterprise performance, reduce the burden of compliance and decrease the risk of material weaknesses and restatements. Deployable as either individual applications or an entire suite, Movaris® Unity(TM) includes Movaris® GRC, Financial Close, Account Reconciliation and SOX Compliance. Financial Close, Account Reconciliation and SOX Compliance applications are also available as the Movaris® OneClose(TM) suite. Movaris® Unity(TM) and OneClose(TM) applications are generally available today.
About Movaris
Movaris enables the Risk-Optimized Enterprise from the First Mile of Business Performance to the Last Mile of Finance(SM). Movaris provides a comprehensive suite of financial close, enterprise compliance and risk management applications that enable customers to increase their confidence in enterprise performance, reduce the burden of compliance and decrease the risk of material weaknesses and restatements.
For more information, please visit movaris.com or call 888-800-7545.
Source: Movaris Inc.
Web site: http://movaris.com/
