Software, Consulting and Content Firms Form the Compliance Consortium™
Compliance Consortium to promote enterprise governance, risk and
compliance management
Cleveland, OH – June 7, 2004
Axentis, the leading supplier of Governance, Risk and Compliance (GRC)
and Sarbanes-Oxley (SOX) applications, today announced it has joined
with several leading software, content and services firms to form the
Compliance Consortium (www.thecomplianceconsortium.org).
The consortium will promote effective and efficient enterprise governance,
risk and compliance management. In addition to Axentis, founding members
include: Approva, Hyland Software, Inc., Hyperion Solutions Corp (NASDAQ:HYSL),
Jefferson Wells International, Intuition, Navigant Consulting (NYSE:NCI),
The Network, PLI-Corpedia, and Staffware (LSE:STW). By providing thought
leadership, definitions of key components of a GRC framework and standards
for integration, the consortium will provide much needed clarity to a
market currently hit with a broad array of conflicting information. The
consortium believes that establishing better GRC management practices
has become imperative in response to dramatic growth in new regulations
and market expectations such as Sarbanes-Oxley, the USA Patriot Act,
Basel II and others.
“The formation of the Compliance Consortium is a significant milestone
in the maturation of the compliance management marketplace,” said
Lane Leskela, financial services industry vice president and research
director of Gartner Research. “The founding members represent a
healthy cross section of the components required for a comprehensive
compliance management portfolio.”
“While there has been considerable investment in developing best
practices for ongoing compliance management, the application of technology
and the automation of compliance management best practices has lagged
behind,” said Richard Steinberg, founder and Principal of Steinberg
Governance Advisors, Inc. and a principal author of the Committee of
Sponsoring Organizations of the Treadway Commission (COSO) Internal
Control – Integrated Framework . “The Compliance Consortium
is a significant market event that promises to correct this imbalance.”
“Given the amount of confusing GRC hype in today’s marketplace,
we felt it was necessary to work with other leading firms to define a
clear GRC technology vision and associated standards,” said Ted
Frank, chief executive officer of Axentis, Inc. and chairman of the Compliance
Consortium advisory committee. “We are very excited by the enthusiastic
support we are seeing and by the work that lies ahead.”
About The Compliance Consortium
The Compliance Consortium (www.thecomplianceconsortium.org)
is an international membership organization designed to promote effective
and efficient enterprise governance, risk and compliance management (GRC).
Areas of interest include GRC best practices and reference architectures,
influencing and contributing to GRC-related industry and computing standards
and establishing conferences and other professional events focused on
GRC-centric topics. Founding Consortium Members include Axentis, Approva,
Corpedia, Hyland Software, Inc., Hyperion (NASDAQ:HYSL), Intuition, Jefferson
Wells International, Navigant Consulting (NYSE:NCI), The Network and
Staffware (LSE:STW).
About the founding members of the Compliance Consortium
Technology, content and services companies participating in the consortium
work to identify best practices for applying technology to compliance
business processes and to exploiting those best practices to improve
overall business performance. The Compliance Consortium’s founding
members are:
Approva www.approva.net ,
Axentis www.axentis.com ,
Hyland Software, Inc. www.onbase.com,
Hyperion www.hyperion.com,
Intuition www.intuition.com,
Jefferson Wells International www.jeffersonwells.com,
Navigant Consulting www.navigantconsulting.com,
The Network www.tnwinc.com,
PLI-Corpedia www.pli-corpedia.com,
Staffware www.staffware.com.
About Axentis
Founded in 1999 with the mission to develop the first broad governance,
risk and compliance technology framework, Axentis delivers managed service
software addressing specific compliance problems including those associated
with Sarbanes-Oxley and enterprise-wide GRC initiatives. With over 600,000
users in 100+ countries, more Fortune 1000 companies depend on Axentis
as their GRC framework than any other source. Today, Axentis’ portfolio
of compliance processes includes Sarbanes-Oxley, HIPAA, ethics/integrity,
anti-trust, sample accountability and general risk and compliance incident
management. For additional information about Axentis, call (800) 955-2706
or visit www.axentis.com.
Contact Information
Gil Chorbajian
Ogilvy Public Relations Worldwide
(518) 355-0966
gil.chorbajian@ogilvypr.com
|
