Osaba, Inc. Releases GL Compliance Manager

The Creators of SOLOMON Manager Series Announce a New Compliance Solution

CALABASAS, CA (PRWEB) March 20, 2004 -- Osaba announced today the release of SOLOMON GL Compliance Manager, the latest addition to the SOLOMON Manager Series suite of applications.

GL Compliance Manager provides structure and automation in support of the general ledger account reconciliation process, tracking who is responsible for reconciling and reviewing each account, which accounts have been reconciled and certified, which accounts have exceptions, and which accounts are at risk for material error. Completed reconciliations are archived and stored in an on-site document repository.

The application is designed to strengthen the internal controls supporting the financial reporting process," explained Therese Tucker, Osabas CEO. General Leger account reconciliations are one of the primary procedures used by firms to confirm the accuracy of financial statements. The regulatory climate, and in particular the introduction of the Sarbanes-Oxley Act, has everyone looking more carefully at their internal controls. Manual, inefficient procedures create risk to the organization and must be eliminated where possible in order to reduce the chance of error."

Although the primary purpose of the application is to support compliance initiatives, GL Compliance Manager offers dramatic improvements in efficiency. What is currently a largely manual process involving distribution, collection, and collation of Excel spreadsheets is replaced by an on-line, real-time system where users log in, submit their reconciliations, report their exceptions, and certify the results. Follow-up on delinquent certifications is also fully automated, using the firms email system as the method for delivering delinquent notifications.

About Osaba

Osaba is the developer of SOLOMON Manager Series, a suite of applications developed using Microsoft .NET technologies. Through a creative use of technology, Osaba has developed a powerful application framework (SOLOMON Application Environment) that forms the basis of each SOLOMON Manager Series solution. Designed for strength and scalability, SOLOMON Application Environment encapsulates security and infrastructure, allows data sharing, incorporates flexible user interfaces, and includes a library of reusable business logic. SOLOMON Application Environment enables new solutions to be deployed in a minimum amount of time. SOLOMONs performance and reliability is being certified by our extremely satisfied clients.

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