Software enables controls automation and monitoring.
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Press Release Summary:
BizRights® Platform and Enterprise Controls Suite v3.5 is used to automate independent on-demand testing; remediation; and continuous, exception-based monitoring of application controls. Reducing time required for enterprise-wide deployments, products aid in preparing for Sarbanes-Oxley 404 and 302 controls audits, managing segregation of duties, implementing compliant provisioning process, and monitoring ongoing transactions for key business processes.
Original Press Release:
Approva Releases New Version of BizRights Platform & Enterprise Controls Suite for Controls Automation & Monitoring
Version 3.5 Offers New Products and Innovative Functionality that Lowers the Cost of Compliance, Streamlines Audits and Reduces Risk
RESTON, Va., May 15 -- Approva(R) Corporation, the leader in enterprise controls management software, today announced a new release of its software suite. Version 3.5 of the BizRights(R) Platform and Enterprise Controls Suite includes new products and innovative enhancements designed to further reduce the cost of compliance and enable companies and their auditors to cost-effectively expand the scope of their controls automation and monitoring programs.
"As companies and their auditors move beyond their initial round of controls audits they are seeking to further reduce the time and effort spent on compliance activities while expanding the scope of controls that they test and monitor," said Rick Cobb, chief operating officer at Approva. "With the release of version 3.5, we are delivering on our commitment to provide long- term customer value by continuously innovating and responding to the needs of our customers in this quickly evolving marketplace. Approva continues to offer the industry's only cross-application solution which manages the full spectrum of system, access and process controls."
Approva's products are used by business, finance, IT and audit professionals at the world's largest and most admired companies to automate the independent on-demand testing, remediation and continuous, exception-based monitoring of their application controls. With version 3.5, Approva users will now be able to further reduce the time and costs associated with preparing for their Sarbanes-Oxley 404 and 302 controls audits, managing segregation of duties (SoD), implementing a compliant provisioning process and monitoring ongoing transactions for their key business processes. In addition, new enhancements accelerate time to benefit and further reduce total cost of ownership by reducing the time required for enterprise-wide deployments. By implementing Approva's controls automation and monitoring solution more broadly across their enterprises, customers will be able to further improve financial reporting data quality and reduce exposure to mistakes and fraud.
New Products & Features
As part of version 3.5, Approva has added significant new products and features that expand the scope of controls which can be automated and monitored with Approva's Enterprise Controls Suite.
System Configuration Insight
The System Configuration Insight is a new product that extends the scope of Approva's controls management solution to system-level controls for SAP, Oracle and PeopleSoft systems. The System Configuration Insight is the first product in the market to monitor system settings and parameters, security and password policies, transport procedures, system update information, process configurations and other ERP-specific configurations.
Emergency User Access Management
The new Access-on-Demand capability expands the features of the Access Management Insight by automating the super-user access request process so that IT administrators can automate the process for managing temporary user requests for firefighting access. Access-on-Demand enables pre-approved users to request and receive temporary role assignments with full activity tracking and reporting. Unlike solutions which let users "ghost" into different IDs, Approva's role assignments provide full transparency into user activity during the emergency access assignment period.
Enhanced Capabilities
Version 3.5 also includes new enhancements designed to increase usability, reduce the cost of ownership and streamline enterprise-wide deployments across multiple geographies and business units.
Cross-Application Controls Management
Enhanced functionality expands cross-application support and enables correlation of rules across all applications including JD Edwards, Oracle, PeopleSoft, SAP and Hyperion.
Improved Ability to Manage Rules
Increased flexibility in audit rules enables users to rationalize the number of controls they monitor and ensure that controls are consistent across multiple geographies and business units. Parameter-driven rules enable users to design a single set of rules and apply them across all parts of an organization so that they can filter the analysis and see exceptions for a particular portion of their environment.
Expanded Reporting Features
A new reporting interface provides increased security and enhanced reporting by enabling users to tailor reports and design the scope of access control violation reports so that users see only the specific information that they need to meet their control monitoring objectives.
Enhanced Workflow
New workflow capabilities streamline the compliant provisioning process by enabling more granular control over requests, approvals, and notifications. Violations can now be mitigated at any stage of the approval process saving further time and reducing risk. Automated integration with SAP's Central User Administration helps to further consolidate requests and automate cross- instance completion.
Increased Security
Enhanced user management capabilities expedite enterprise-wide implementations of Approva by streamlining the process of adding and managing user access.
Expanded Integration Capabilities
Several enhancements strengthen integration of Approva to third-party applications and enable users to scale their deployments more quickly. Packaged integration to identity management (IdM) solutions and governance risk and compliance applications (GRC) enables customers to expand the value of their Approva deployment. In addition, offline adapter support enables disconnected extractions through the BizRights Extraction Utility and provides new integration options.
"As the leading independent provider of enterprise-class controls automation and monitoring software we are excited to be able to serve not only some of the world's most prestigious customers but also the external audit community," said Silas Matteson, Approva's senior vice president of Products. "These product enhancements will empower our customers to expand their control initiatives while achieving tangible efficiencies."
Version 3.5 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 www.approva.net.
CONTACT: Allison Albanese of FitzGerald Communications for Approva Corporation, +1-212-453-2046, or approva@fitzgerald.com
