Las Vegas, NV � May 21, 2007 � iWay Software, an Information Builders company and an innovator of enterprise integration solutions, today announced iWay Compliance Solution Framework (iComply), its new framework for business-process and regulatory compliance. iComply is the first and most comprehensive solution to automate, monitor, and report on critical cross-enterprise business processes, dramatically reducing auditing costs and business risk. The framework leverages Sarbanes-Oxley (SOX) compliance management tools and data from more than 300 disparate systems, via the power of iWay Service Manager and adapter suite, for truly real-time, event-driven management of the entire compliance lifecycle.
A recent Forrester report cited that business complexity, along with increased regulatory and market scrutiny, is driving organizations to adopt a structured approach to governance, risk, and compliance (GRC). The practice of GRC has evolved from siloed applications, documents, and spreadsheets to enterprise content management in order to manage compliance documentation. The introduction of workflow has enhanced communication in GRC processes during the past few years, putting an increased focus on supporting these initiatives through the use of business-process management, rules engines, and automated monitoring.1
Much attention has been paid to automating business processes specifically for financial compliance, leaving the monitoring and reporting of a myriad of other critical business processes to be conducted manually. As organizations look for ways to improve reporting and reduce the labor-intensive investment of GRC-related and other business process compliance, solutions like iComply, which aid in the collection and reuse of data from multiple sources, will be in great demand.
�iWay Software has been very successful at leveraging integration technologies across a variety of enterprise systems including ERP, databases, and mainframes,� said John Senor, president of iWay Software. �While other governance-type offerings are based on support of a single system such as an SAP or Oracle applications system, iWay Compliance Solution Framework is the first offering to provide business process monitoring and auditing across systems involving hundreds of different types of information resources.�
Examples of Rules and Real-Time Compliance
The iWay Compliance Solution Framework combines the iWay Service Manager, WebFOCUS, and third-party Prizmasoft�s Compliance Solution, to offer the first comprehensive and automated compliance solution available. iComply reduces non-compliance risk and affords significant return on investment by automating checks and balances and shortening audit processes. The framework can be applied to any number of business processes, including the following.
- Bank solvency � The FDIC requires U.S. banks to be solvent at all times. That is, never have more money withdrawn than deposited. With iComply, a bank can easily automate the monitoring of all inbound and outbound transactions, by plugging into all transaction systems, such as SWIFTNet for wire transfers, to calculate and trigger a real-time alert for any potential insolvency. Additionally, a rule of �hold transaction until bank has sufficient funds� would prevent insolvency as well as costly FDIC fines upon quarterly auditing.
- Shipping/receiving � Enterprises today receive orders electronically. Auditors, when researching order integrity, solicit a random sampling of purchase orders and match them to corresponding bills of lading, the document acknowledging receipt of goods for transport. With iComply, businesses can implement rules and monitoring points � such as order receipt, bill of lading issue, and matching of the two � to ensure compliance in real-time and reduce risk.
A beta version of iWay Compliance Solution Framework is available immediately. Pricing begins at $300,000 depending on scale. Like all iWay solution frameworks, the product includes technology infrastructure, business-process templates, and reports. Information Builders� consulting services are also available to customize the solution to the needs of individual business processes. For more information, call (866) 297-4929.
About iWay Software
iWay Software, an Information Builders company and the world’s leading adapter vendor, accelerates business integration by providing tools that make service-oriented architectures easy to implement. Clients achieve short-term ROI by using iWay to reduce custom programming and to solve problems quickly, while incrementally creating an architecture that supports long-term projects. The biggest names in software, including BEA, Microsoft, and SAP, use iWay adapters to simplify access to ERP and CRM systems, messaging, legacy systems, e-business protocols like AS2 and ebXML, and more. Additional message transformation and data integration make iWay a natural integration choice � standalone or with other middleware.
About Information Builders
Information Builders, an innovator for more than 30 years, makes the most widely deployed business intelligence (BI) solution and is the leader in production BI. WebFOCUS, the company’s flagship product, is a comprehensive and fully integrated business intelligence platform whose architecture and simplicity permeate every level of the extended enterprise � executive, analytical, and operational. Developed with all users in mind � regardless of technical skills � it is the most secure and flexible solution in the market, helping organizations build applications that have no barriers, and scale from a dozen to hundreds of thousands of users. Information Builders is the only vendor to offer its own integration solution with iWay Software. The seamless integration with WebFOCUS creates unrivaled access to any information source.
Information Builders’ award-winning technology has successfully provided quality software and superior services to more than 12,000 customers, including most of the Fortune 100 and U.S. federal government agencies. Headquartered in New York City with 90 offices worldwide, the company employs 1,500 people and has more than 350 business partners. For more information visit www.informationbuilders.com.
1 Forrester Research, M. Rasmussen. Trends 2007: Governance, Risk, and Compliance, 4/9/2007.