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Sarbanes-Oxley Compliance

Sarbanes-Oxley (SOX) legislation imposed new, extensive reporting and record keeping requirements on all publicly-traded companies. It mandates that executives of those companies take personal responsibility for the procedures of collecting data for the company's financial reports and for the integrity of their contents.

Delivering accurate financial reports ongoing is typically a complex process, involving several individuals, many documents with various revision cycles, and a series of review and approval steps. With the SOX mandates, the onus is on the management team of every publicly-traded company to provide assurances that the financial reporting process is controlled, with certainty that the contents of financial reports are accurate. Now, corporate executives have personal responsibility for the accuracy of their company's reports.

In order to comply with the requirements, companies need flexible software systems that facilitate record keeping and document management in a secure and efficient manner. Additionally, the software should empower the corporation with a platform for managing the financial documents throughout the life cycle of the financial reporting process. This requires an electronic document management system that provides security and controls, edit history, and the automation and capture of review/approval cycles.

STATISTICA Solution

  • Storage, Approval and Archiving of Documents: The STATISTICA Document Management System (SDMS) provides an integrated document management system for storage, approval and archiving of data, results, reports, and any other electronic documents. Through SharePoint integration, STATISTICA easily collaborates with it and other document management systems for storing and tracking documents.
  • Secure Storage and Versioning: Most document types can be automatically maintained both in (a) the archival, review-only (non-editable) PDF format, featuring the appropriate electronic signatures, and also (b) in the respective editable ("source") format allowing a user with appropriate access privileges to create new, modified versions. None of the edits or changes, however, will ever overwrite either the archival or source files of the previous version - they will only add a new pair of files to the repository.
  • Electronic Signatures: Strict security via electronic signatures is enforced, and different groups of users can be authorized to create, edit, or review documents in different parts of the repository. Documents in the document archive cannot be deleted by end-users. For changes, a new version is created and logged with annotations (meta data) to identify the time and author of the modifications, along with other information (either optional or required by the local configuration).
  • Audit Trails are Easily Generated: A complete auditing trail of all document edits is automatically created, and can be printed or saved in electronic form for submission to regulatory bodies or agencies.
  • Groupware Functionality: STATISTICA Document Management System offers groupware functionality, supports workgroups, and allows you to define users and groups of users with specific privileges, such as the permission to create documents, edit documents, review documents, approve documents, and so on.
  • Easily Searchable: Various options are available to perform simple or complex searches of the documents managed by the STATISTICA Document Management System. This includes searches of all versions of the documents.

Included Technologies

Content

Contact Us

Statistica
2300 East 14th Street
Tulsa, Oklahoma, 74104
(918) 749-1119