Open Text(TM) Corporation is enhancing its Internal Controls solution by integrating advanced reporting, dashboard and analytics capabilities acquired from Hummingbird. The expanded solution will help customers gain greater insight into their compliance programs for regulations such as the Sarbanes-Oxley Act and Basel II Capital Accord, among others.
Open Text is demonstrating the new integration this week at its LiveLinkUp 2006 global user conference in Phoenix, Arizona, and will begin to offer the new capabilities in early 2007. The integration is among the first Open Text is introducing to combine complementary ECM capabilities following its acquisition of Hummingbird. In addition to its Internal Controls solution, Open Text also said the query and reporting capabilities will be integrated with Open Text's other compliance solutions.
Livelink ECM - Internal Controls offers a centralized, enterprise-wide system to manage internal controls information. With the addition of the advanced reporting and dashboard capabilities, Livelink ECM - Internal Controls customers will be able to evaluate data across the entire business process. The new capabilities will give executives access to data from multiple systems and organize and analyze the information easily, enabling organizations to detect patterns in financial statement data and help ensure accuracy of financial information. Users can proactively alert management to potential problems and deliver daily, real-time reporting to stakeholders. Executives gain an enterprise-wide view of risks, issues, and the effectiveness of compliance and governance efforts.
The Livelink ECM solution provides full reporting capabilities to address the needs of different users in the organization with a wide range of reports, formats, and delivery methods. The capabilities include end user ad hoc query and reporting, which allows users to pose questions about data and communicate the results in meaningful reports. Other key features include:
The inclusion of standard reports
- Multi-dimensional reporting for more reliable results more efficiently
- Report upon Internal Controls metrics, information from other Open Text compliance solutions, and third party applications
- Scheduled reports that can be automatically saved to Livelink ECM or sent to Livelink ECM users via email
- Connections to third-party databases and applications for reporting on Key Performance Indicators (KPIs).
"Open Text is committed to helping our customers not just with specific compliance challenges such as SOX 404, but to help them implement a holistic and centralized approach to identifying, rating, and mitigating corporate risks," added Forquer. "By offering stronger reporting and analytics capabilities, we empower our customers to extend their existing investment into a complete enterprise risk management program."