Lava Systems Africa, an affinity partner of Canadian-based Open Text, and one of the companies within the Enterprise Content & Wireless (ECW) Group, today announced Open Text is enhancing its Internal Controls solution by integrating advanced reporting, dashboard and analytics capabilities acquired from Hummingbird.
The expanded solution will help customers gain greater insight into their compliance programmes for regulations such as the Sarbanes-Oxley Act and Basel II Capital Accord, among others.
This integration is among the first Open Text is introducing to combine complementary ECM capabilities following its acquisition of Hummingbird. In addition to its Internal Controls solution, Open Text also said the query and reporting capabilities will be integrated with Open Text's other compliance solutions.
"Because of commonality across compliance requirements, and the associated costs, organisations are turning from point solutions to a single platform to manage all of their governance, risk and compliance initiatives. The integration of Open Text's platform with the Hummingbird reporting technology enables us to provide immediate value to our customers, helping them to better measure compliance efforts, reduce risk and increase accountability," commented Bill Forquer, Executive Vice-President, Compliance Solutions Business at Open Text.
"The fact that we are already demonstrating tangible benefits for our Internal Controls solution is a real testament to our ability to quickly integrate our offerings from the Hummingbird acquisition, which can result in increased value for our customers."
Livelink ECM - Internal Controls offers a centralised, enterprise-wide system to manage internal controls information. With the addition of the advanced reporting and dashboard capabilities, Livelink ECM - Internal Controls customers will be able to evaluate data across the entire business process. The new capabilities will give executives access to data from multiple systems and organise and analyse the information easily, enabling organisations to detect patterns in financial statement data and help ensure accuracy of financial information. Users can proactively alert management to potential problems and deliver daily, real-time reporting to stakeholders. Executives gain an enterprise-wide view of risks, issues and the effectiveness of compliance and governance efforts.
The Livelink ECM solution provides full reporting capabilities to address the needs of different users in the organisation with a wide range of reports, formats and delivery methods. The capabilities include end-user ad hoc query and reporting, which allows users to pose questions about data and communicate the results in meaningful reports. Other key features include:
* The inclusion of standard reports
* Multi-dimensional reporting for more reliable results more efficiently
* Report upon Internal Controls metrics, information from other Open Text compliance solutions, and third-party applications
* Scheduled reports that can be automatically saved to Livelink ECM or sent to Livelink ECM users via e-mail
* Connections to third-party databases and applications for reporting on key performance indicators (KPIs).
"Open Text is committed to helping our customers not just with specific compliance challenges such as SOX 404, but to help them implement a holistic and centralised approach to identifying, rating and mitigating corporate risks," added Forquer. "By offering stronger reporting and analytics capabilities, we empower our customers to extend their existing investment into a complete enterprise risk management programme."
For further information, please contact Ray Dalgarno, Lava Systems Africa: telephone (011) 675 7193, fax (011) 675 4075, e-mail rayd@lavasystems.co.za.
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ECW is the merged entity of Lava Systems Africa and Lava Systems Mobile (LSM).
The Lava Systems Africa (LSA) team originated in the late 1990s with the objective of becoming a premier supplier of enterprise systems based around knowledge management, document management, records management, image management, collaboration and workflow solutions. The emerging demands that were identified included government process re-engineering, supply chain co-ordination, customer relationship management, e-government and B2B processing.
In support of these business aims the technology platforms chosen had to enjoy a proven global track record and adhere to open Internet architecture standards and developments. LSA is a South African-based company dedicated to the sales, marketing, support and consultancy founded upon the Livelink product suite from Open Text, a product that the staff have been involved with since 1998. LSA user base embraces customers from both the private and public sector and includes organisations such as Bateman Projects Limited, Alexander Forbes, the Gauteng Provincial Government and the National Social Security Fund of Uganda.
Lava Systems Mobile, a company focusing on the development of mobile applications and tools, was originally created in 2005 and later that year absorbed KeyTools, a well-established mobile applications software developer with international links.
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