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HandySoft & Plumtree Take Corporate Governance to the Next Level with SOXA
Accelerator 2.0
Industry leaders HandySoft Global Corporation & Plumtree Software unveil SOXA
Accelerator 2.0 with enhanced reporting, flexible auditing methodology support,
Sarbanes-Oxley Sections 302 and 404 rollup & certification, and more
VIENNA, Va. and SAN FRANCISCO, March 30 /PRNewswire/ -- HandySoft Global
Corporation, the leader in business process management (BPM) solutions, and
Enterprise Web leader Plumtree Software today announced version 2.0 of the SOXA
Accelerator. This solution adds new and enhanced compliance functionality to
the SOXA Accelerator, released in June of 2003, which has a growing roster of
Global 500 customers.
The enhanced version demonstrates HandySoft's commitment to helping public
companies address the many challenges they face as a result of the Sarbanes-
Oxley Act. SOXA Accelerator 2.0 now provides updated reporting capabilities for
improved control and administration and enhancedsupport for Sarbanes- Oxley
Sections 302 and 404. Section 302 requires CEOs and CFOs of public companies to
personally certify their company's financial results quarterly and annually.
Section 404 requires that public companies report annually on theeffectiveness
of their reporting process and internal controls, and requires that external
auditors attest to the company's conclusions.
According to a December 2003 Outlook by AMR Research, "Money will need to be
earmarked to pay external staff, withtechnology expenditures exceeding $1B in
total ... Where more than half of companies originally viewed Section 404
requirements as involving only financial processes, now 79% consider that
compliance mandates must include finance, operations, and IT processes."
In an October 2003 AMR Research report, analyst Eric Austvold stated: "BPM will
become a cornerstone of long-term active compliance by putting a ceiling on the
rising costs of compliance through the automation of manual audit tasks,
rules-based enforcement of policies, and as a common platform that coordinates
Sarbanes-Oxley related activities." (BPM Software is a Cornerstone of
Sarbanes-Oxley Compliance)
"Our customers have been telling us that they need help in the areas of
financial process control, tracking and enforcement, so the SOXA Accelerator 2.0
makes it even easier for companies to compile, monitor and view reports of
important financial data critical to Sarbanes-Oxley compliance," says Daryn
Walters, vice president of worldwide marketing and strategy for HandySoft. "More
importantly, companies are realizing that they can leverage the benefits of
process design, control and enforcement beyond corporate governance and
Sarbanes-Oxley compliance to institutionalize best practices, save time and
money, and improve the way they do business."
"The first version of the SOXA Accelerator was well received because it was a
comprehensive application that combined BizFlow's BPM capabilities with our
suite's collaboration, content management, search and personalization. The SOXA
Accelerator 2.0 adds compliance dashboards and incorporates Sarbanes- Oxley
frameworks from the major audit firms," said Plumtree CFO Eric Borrmann.
"HandySoft was one of the first application partners in our Applications
Incubator program, and continues to be a leading adopter."
Expanded Capabilities of the SOXA Accelerator 2.0
New Section 302/404 Rollup and Certification Enforcement: Workflow and forms
completed by each business unit's managers or executives on a quarterly or
annual basis help a company determine if any material changes which would impact
the company's financial metrics have taken place.
Enhanced Visibility and Reporting of Financial Data: New enhanced dashboard
provides a graphical, high-level view of key performance indicators and
pre-configured reports concerning the financial controls of Sarbanes-Oxley
compliance.
Even Easier to Use: A more intuitive user interface for administration,
searching and filtering helps financial officers of a company to get the
information they need quickly, while decreasing their reliance on IT.
Expanded Support for Three Major Accounting Methodologies and Standards: Support
for the methodologies for Sarbanes-Oxley used by PricewaterhouseCoopers (COSO),
Ernst & Young and Deloitte Touche.
SOXA Accelerator 2.0 is offered as a stand-alone solution or as an add-on to
existing HandySoft or Plumtree products. A highlight sheet with expanded
information on the SOXA Accelerator 2.0 is available upon request. For more
information on the SOXA Accelerator 2.0, please visit:
http://www.handysoft.com/solutions/sarbanes-oxley
About Plumtree Software
Plumtree Software is the Enterprise Web leader. Plumtree's mission is to create
a comprehensive Web environment for employees, customers and partners across the
enterprise to interact with different systems and work together. Plumtree's
Enterprise Web solution consists of integration products for bringing resources
from traditional systems together onthe Web, shared services such as
collaboration, content management and search for building new Web applications,
and a portal platform for delivering these Web applications to broad audiences.
Plumtree's independence and its Web Services Architecture allow this solution to
span rival platforms and systems, helping to maximize customers' return on their
existing technology investments. With offices in more than a dozen countries,
Plumtree has licensed over 575 customers, including Boeing, Ford MotorCompany,
Procter & Gamble and the U.S. Navy.
About HandySoft Global Corporation
HandySoft Global Corporation is the premier provider of configurable software
solutions that simplify and automate business processes; capture and enforce
best practices;improve productivity and quality while reducing costs; integrate
information technology; and foster collaboration among employees, customers, and
partners.
The foundation for HandySoft's industry and departmental solutions is
BizFlow(R), the award-winning platform for business process management,
automated workflow, and collaboration. BizFlow offers complete capabilities for
building and managing automated business processes, including tools for
designing and monitoring the processes, presenting and accessing work,
integrating existing IT systems, and administering the platform itself. As a
global solutions provider, HandySoft has headquarters locations in Vienna, VA,
and Seoul, Korea, with strategic partner representation throughout the world.
HandySoft has implemented process management solutions at hundreds of sites
worldwide. For more information call +1-703-442-5600, email or visit
http://www.handysoft.com/
Plumtree is a registered trademark of Plumtree Software, Inc. and/or its
subsidiaries in the US and/or other countries. All other registered and
unregistered trademarks in this document are the sole property of their
respective owners.
HandySoft, the HandySoft logo, BizFlow, and BizFlow Accelerator Suites are
trademarks of HandySoft Global Corporation. All other trademarks are the
property of their respective owners.
For more information, please contact:
Dennis O'Connor Carilu Dietrich
Peter Arnold Associates (for HandySoft) PlumtreeSoftware
781.239.1030 415-399-7047
DATASOURCE: HandySoft Global Corporation
CONTACT: Dennis O'Connor of Peter Arnold Associates (for HandySoft), +1-
781-239-1030, ; or Carilu Dietrichof Plumtree Software,
+1-415-399-7047,
Web site: http://www.handysoft.com/