Software aids in enterprise controls management.
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Press Release Summary:
BizRights® Authoring Studios provide standards-based authoring platforms that enable services organizations to design and deploy optimized enterprise control solutions that address complex IT environments and meet their specific needs. Solutions address application- and entity-level controls from security and access controls to financial, operational, and business process controls. They support Open Controls Framework and utilize XCRL and XCDL to ensure 3rd party compatibility.
Original Press Release:
Approva Expands Standards-Based Approach to Enterprise Controls Management with Release of BizRights Authoring Studios
Next-Generation Authoring Solutions Support Open Controls Framework and Enable Companies and Their Auditors to Expand the Scope of Controls Management Programs
RESTON, Va., May 15 / -- Approva(R) Corporation, the leader in enterprise controls management software, today announced the availability of the BizRights(R) Authoring Studios. With this release, Approva has established itself as the clear leader in deploying standards-based products for enterprise controls management.
"Until now, customers with heterogeneous IT environments and unique financial and operational controls management requirements were forced to develop custom applications and reports or find manual work-arounds," said Approva CEO Prashanth (PV) Boccasam. "With the release of the BizRights Authoring Studios, we have created a set of standards-based tools that internal and external services organizations can use to package their controls knowledge in a reusable way and offer uniquely differentiated enterprise risk management services that help their clients cost-effectively strengthen their controls environment and reduce risk."
The BizRights Authoring Studios represent the industry's first standards- based authoring platform. They mark the end of inflexible, proprietary, "hard-coded" controls solutions by enabling services organizations to rapidly design and deploy optimized enterprise controls solutions that address complex IT environments and meet the specific needs of their organization. The Authoring Studios address the full spectrum of application and entity-level controls from security and access controls to financial controls, operational and business process controls.
The BizRights Authoring Studios support the Open Controls Framework (OCF) and utilize the Controls Reporting Language (XCRL) and the Controls Definition Language (XCDL) to ensure that controls information, reports and rules created with the BizRights Authoring Studios can be easily shared with other users, auditors and 3rd-party applications.
The BizRights Authoring Studios include the following four products:
Control Studio
The BizRights Control Studio enables users to build consistent rules for all of their controls across all of their applications by using a simple graphical user interface. The Control Studio uses XCDL to provide a common format for acquiring and normalizing data and developing the rules in a standard format so that companies and their auditors can easily exchange control-related data and rules. Users can create and maintain rules using either the BizRights interface or a Microsoft Excel Workbook.
Integration Studio
The BizRights Integration Studio provides the ability to integrate with any type of ERP or legacy application so that data can be acquired and normalized for controls documentation, testing and reporting. In addition, the Integration Studio provides pre-packaged integration kits for the leading identity management (IdM) solutions, governance, risk & compliance (GRC) solutions, portals and business process monitoring (BPM) solutions.
Insight Studio
The BizRights Insight Studio serves as an authoring environment that enables users to build their own packaged solution for testing, monitoring and remediating internal controls for a specific application or process. It uses a standard approach, based on XCDL to define the appropriate data schema, which can then be used to create reports and rules that are required to meet specific control objectives. Insights that are created with the Insight Studio utilize the BizRights Platform to collect the required information from the target applications and present it in an easy-to-understand format so that users can understand the relationships between the underlying data and the controls that are being tested.
Report Studio
The BizRights Report Studio enables users to create reports that address their specific business needs. Reports are developed in a standard format, based on XCRL so that they can be easily shared and published to third-party documentation solutions, data warehouses or portals. Since reports are based on XCRL the information can be easily shared and reused by all enterprise applications interested in controls information.
The BizRights Authoring Studios are part of the 3.5 release of Approva's solution suite. They will be demonstrated at the 2006 ASUG Annual Conference and SAPPHIRE '06 Orlando conferences in Orlando, Florida May 15-18 and will be available for general release on June 1, 2006.
About Approva
Approva(R) Corporation is the industry-leading provider of Enterprise Controls Management software. We enable business, finance, IT and audit professionals to automate the on-demand testing, closed-loop remediation and continuous, exception-based monitoring of controls within and across their business systems. Using our solutions, customers are able to significantly increase visibility into their controls, streamline the audit process, cost- effectively sustain their compliance initiatives and reduce exposure to mistakes, fraud and inefficiencies for business processes such as procurement, sales and delivery, payroll and financial close. In addition, our automated solutions act as key preventative and detective controls, further strengthening our customers' financial and operational control environments. Global companies such as Campbell Soup Company, Colgate-Palmolive, DirecTV, Discovery Communications, McCormick & Company, P&G, Pratt & Whitney, Siemens and Wyndham Hotels & Resorts rely on Approva BizRights(R) Platform and Enterprise Controls Suite to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. For more information, visit http://www.approva.net/.
CONTACT: Allison Albanese of FitzGerald Communications for Approva Corporation, +1-212-453-2046, or approva@fitzgerald.com
