Tampa, FL (PRWEB) January 16, 2007
OiWare, Inc., a leading Sarbanes-Oxley compliance and corporate governance software application provider, today announced the availability of its iNTENTcheck™ software application. The product will be offered through its business partner channels. iNTENTcheck™ serves as the foundation for company-wide corporate governance through its ability to join an organization's governance, risk and compliance operations into a single software management solution. iNTENTcheck™ helps management control its intent from the top down approach and comply with the Sarbanes-Oxley section 404a.
A direct excerpt from the Sarbanes-Oxley (SOX) Act of 2002 report for section 404a states that the Commission shall prescribe rules requiring each annual report required by section 13(a) or 15(d) of the Securities Exchange Act of 1934 to contain an internal control report, which shall: (1) state the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial reporting; and (2) contain an assessment, as of the end of the most recent fiscal year of the issuer, of the effectiveness of the internal control structure and procedures of the issuer for financial reporting.
Today, software vendors are revising old products to deal with SOX, but they are doing so in an environment where the product needs are not fully known. Auditors are simply trying to keep from drowning in the workload as they rush to meet mandated deadlines. Therefore, in many cases, they are using the software products they know well, rather than the new products that might increase their productivity and help them reduce costs and work hours. Unlike iNTENTcheck™ built from the ground up and under the Committee of Sponsoring Organizations of Treadway Commission (COSO) framework that is specifically designed to meet SOX compliance and organizations corporate governance.
"The small to mid-sized businesses need guidance for an affordable, intuitive Sarbanes-Oxley compliance and corporate governance solution," said Alec Brophy, CEO of Oiware. "Not only is compliance expensive, the market lacks technology tools and solutions that are specifically designed, priced and built from the ground up on a COSO framework for the small to mid-sized market until now with iNTENTcheck™."
iNTENTcheck™ is a comprehensive, affordable, intuitive, easy to implement software developed for Sarbanes-Oxley compliance and corporate governance. Thus allowing corporate management to define its intent and synchronize it throughout the organization in an integrated fashion.
iNTENTcheck™ is a solution that does not require a major investment of resources or complicated IT infrastructure. This solution leverages off of existing information and highlights what is needed to comply with SOX.
1. Affordability. The software application is affordable based on site license and maintenance fees for small to mid-sized businesses. Additionally, small to mid-sized businesses must evaluate off the shelf software instead of costly, more expensive customized solutions.
2. Flexibility. iNTENTcheck™ is able to be used by a variety of industries and departments. Small to mid-sized businesses need to look for technology solutions that are horizontal and are not limited to one particular industry.
3. Scalability. This compliance solution not only works for large companies, but for companies of all sizes, or even just one department within an organization.
4. Integration. The iNTENTcheck™ compliance solution integrates seamlessly with other business processes and enhances overall productivity and workflow within an organization. iNTENTcheck™ allows an organization to share processes, risks and controls across business units to reduce complexity, eliminate duplication of efforts and understand interdependencies between key business processes.
Unlike large corporations that employ full-time compliance professionals, small to mid-sized businesses often do not have the expertise on staff for complicated IT implementations and overall compliance requirements. For that reason, small to mid-sized businesses should first determine a prioritized set of rules and regulations they face and then select a solution that offers a fast, user-friendly implementation and intuitive compliance and corporate governance solution like iNTENTcheck™.
About OiWare, Inc.
OiWare is a company that seeks to provide comprehensive, affordable, easy to use solutions that are easy for internal management to implement and maintain processes and procedures going forward. OiWare provides world-class support through the business partner channels and direct software support. OiWare maintains a high degree of ethics and enables companies to grow, people to develop and communities to prosper.
The company can be reached at http://www.oiware.com, or call us at 415.738.2326.
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