Accounting and Financial Software
Software integrates and manages compliance efforts.
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Press Release Summary:
With Movaris Unity Release 10, users can plan, scope, schedule, perform, manage, and report on all corporate performance, governance, risk, and compliance efforts. Enterprise Risk Manager documents risks, establishes key risk indicators, automates control activities, and displays status for all risk mitigation efforts. Defining and assigning close tasks to large cross-function group, Close Collaboration Manager displays consolidated results, comments, and attachments.
Original Press Release:
Movaris Drives Business Value from Integrated Performance and Compliance Efforts in Unity Release 10
Expands Capabilities Across Risk, Scoping, Collaboration and Reporting
SAN JOSE, Calif., Oct. 31 /-- Movaris, a leader in solutions that integrate and manage financial close and other compliance processes, announced today the next generation platform that transforms the burden of compliance into business value by integrating and managing compliance and performance efforts across the enterprise. Building on the Movaris Control Management Framework, Movaris Unity Release 10 includes both new applications such as Enterprise Risk Manager as well as enhanced functionality in the areas of scoping, close collaboration, management dashboarding and XBRL.
"Risk management -- be it enterprise-wide or operationally focused -- has arrived," said John Hagerty in the February 2007 AMR Research Alert "Compliance Is Still a Priority." "GRC is no longer solely an esoteric discussion, but one that has captured the minds of business executives and the attention of buyers looking to identify, categorize, assess, and mitigate potential problems before they adversely affect performance."
To achieve sustainable competitive advantage and to enter and win new markets and increase profitability, companies must integrate compliance into the fabric of their operations by unifying, managing and coordinating performance management with governance, risk, and compliance initiatives. Movaris Unity Release 10 provides a unified, "single version of truth" for governance, risk and compliance and associated performance management efforts across the enterprise. Movaris helps customers improve business value and reduce overall corporate risk through best practice processes that ensure that the right things are done by the right people, in the right sequence and within the right time frame.
"Movaris Unity Release 10 is the most comprehensive release in company history and builds on our extensive workflow and process-centric platform to enable users to plan scope, schedule, perform, manage and report on all corporate performance, governance, risk, and compliance efforts. Risks to an enterprise can never be fully eliminated, but the end goal is to optimize risk control efforts so that a company can focus on those areas deemed to be most critical to the success of the enterprise," commented Eric Keller, CEO, Movaris. "The integration of compliance efforts with performance efforts is the next big step in performance management and progressive companies are taking advantage of that integration to be more competitive."
"At Celanese Corporation, we are always looking for ways to improve our capabilities to provide the highest level of compliance across the organization", said Scott Thornton, Manager Sarbanes-Oxley, Celanese Corporation. "We anticipate that the new multi-dimensional scoping functionality in Release 10, together with our existing Movaris capabilities, will continue to improve the timeliness and efficiency of our compliance processes".
Movaris Unity Release 10 includes both new applications as well as enhanced capabilities in existing modules including:
-- Enterprise Risk Manager -- Provides an enterprise framework to document risks, establishes key risk indicators (KRI), automates control activities, and displays status for all risk mitigation efforts. Also integrates risk factors and controls across other compliance and performance initiatives.
-- Multidimensional Dynamic Scoping -- Expands on Movaris' already robust scoping capabilities to evaluates quantitative and qualitative conditions with pre-defined rules to categorize controls as in-scope or out-of-scope.
-- Close Collaboration Manager -- Defines and assigns close tasks to a large cross-function group, displays consolidated results, comments and attachments, thereby reducing the time consuming process of collection structured and unstructured data for period end close and financial reporting processes.
-- XBRL Manager -- Uploads financial statement data and XBRL tags from system of record, or adds XBRL tags via tag wizard. XBRL information can be viewed in key consoles.
-- New Management Dashboards and User Interface -- State-of-the-art UI improves ease of use across all Unity applications. New management dashboards provide real-time, role-based summary and status via user-configurable homepage.
"Using Movaris, we have improved the timeliness and efficiency of our compliance processes," Howard Cumme, Senior Manager of Internal Audit, Covad Communications Group, commented. "The depth and breadth of knowledge in the finance and compliance space, in addition to outstanding service and support are just two reasons Movaris continues to be a trusted vendor."
Movaris Unity Release 10 is currently in beta and will become generally available in December, 2007.
About Movaris
Movaris enables the Risk-Optimized Enterprise by allowing companies to reduce enterprise risk exposure and focus on improving enterprise performance. Movaris Unity is a comprehensive suite of financial compliance and risk management applications that transforms the burden of compliance into business value by enabling customers to increase confidence in enterprise performance and reduce the risk of material weaknesses and restatements.
For more information, please visit movaris.com/ or call 888-800-7545. For inquiries, please contact Linda Wilhelm, Director, Product Marketing, at lwilhelm@movaris.com.
Movaris is a registered trademark of Movaris Inc. All other company and product names are trademarks or registered trademarks of their respective holders.
CONTACT: Linda Wilhelm, Director, Product Marketing of Movaris Inc., 1-888-800-7545, lwilhelm@movaris.com
Web site: movaris.com/
