Compliancy unveils management solution

Compliancy Software, a provider of governance, risk management and compliance (GRC) automation, has released a financial close management solution, which extends its General Ledger Reconciliation module to include the management of journal entries, variance analysis and improved business intelligence, reports Carolina Newswire.

Managing the close process has traditionally been a manual process of assigning and tracking responsibility for the various tasks using spreadsheets, says the company. These manual processes do not provide timely status reports or a direct link to the actual reconciliation spreadsheets and supporting documentation.

The challenge is to increase the speed of closing while also improving the quality, accountability, auditability, and efficiency of this recurring process, it adds.

Global IT governance organisation ISACA has introduced a best practice framework to provide the missing link between enterprise risk and IT risk management, states Computer Business Review

Risk IT builds on the existing COBIT framework and is aimed at helping firms identify and manage IT-related business risks, such as late project delivery, an outdated IT infrastructure or a lack of relevant skills.

Mismanagement of these risks more could potentially cost firms millions in lost revenues and opportunities.

AmberPoint is positioning the AmberPoint Governance System as an approach that does not dictate what the application development life cycle process must be, as a solution to the frameworks that impose a top-down approach to application development, says CTO Edge.

The AmberPoint system can be applied to the entire application development process or just a specific subset of applications. The system then monitors events and updates and will send an alert any time a particular rule has been violated during the development process.

Ed Horst, chief marketing officer for AmberPoint, says rather than building the system around a central database, the AmberPoint Governanace Systems uses the same meta-data model as the company's application management suite to track changes to the environment.