As corporate governance places more stringent risk management and compliancy demands on executives through the proliferation of new regulations and legislation, the need for effective mechanisms to manage the roll-out and measurement of governance projects is growing. By inking a partnership with Dynasec, international leader in the field, Magix Integration now offers the only proven governance management software and services solution in South Africa.
"To assist companies in ensuring their compliance efforts are precisely aligned to legislative and regulatory demands, Dynasec provides a platform that enables organisations to efficiently measure and manage these processes," says Amir Lubashevsky, director of Magix Integration. "Depending on which regulations a company wants to comply with, we provide a software solution that checks every requirement, down to the smallest detail and delivers a compliance percentage indicating how close to perfect the business is.
"Given the complexity of compliance regulations, Magix also provides consulting services to assist in the installation, customisation and configuration of the package to the client`s specific needs. Once the audit is completed, the organisation manages the process itself and updates data as each area is brought up to speed."
With Dynasec implemented, executives are able to call up graphical reports on any segment of the business, in real-time, to determine the progress of the compliance process. This assists them in effectively managing subordinates tasked with updating their areas of responsibility. Instead of having to rely on people`s reports, executives can instantly view the progress of compliance projects and drill down into specific problem areas where necessary.
Currently, Dynasec offers managed Sarbanes-Oxley assistance for companies involved in the US market, Basel II compliance for banks as well as software and services for HIPAA and ISO17799 compliance. It also supports multiple other regulations from the US and EU, and is constantly adding more.
Magix understands that compliance regulations are having a greater impact on larger organisations at the moment and is therefore targeting Dynasec to this market. It will also launch a hosted version for small companies that will provide compliance services without requiring customers to license the software.
"It won`t be long before companies are unable to meet governance requirements without a management system," adds Lubashevsky. "The Dynasec software runs as a layer above the operational systems of the organisation, providing the ability to manage risk, governance and compliancy processes without disrupting operational systems or processes."
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