Choose Solution Applications Travel Invoicing Tasking Purchasing Home > BizDoc / SOX Sarbanes-Oxley Act compliance This new BizDoc.Net based package is a tremendous move forward in complying Sarbanes-Oxley Act (SOX). Already used by companies traded in NASDAQ, this solution provides a ready made set of forms and procedures that companies may use and customize to fit their specific requirements. Inherent characteristics of BizDoc enable fast and easy implementation of SOX requirements. One of the many key benefits one should get out of any workflow system is the ability to actually enforce business rules within an enterprise. The SOX Act requires periodic evaluation and documentation of internal controls and procedures that are put in place for the purpose of producing financial information. Furthermore, it requires that the CEO and the CFO must certify the existence of those controls and must sign-off on the veracity of their organization's financial reports on a periodically basis. A workflow system is designed to overlay existing software systems that are already in place and with it you can derive as well as drive complete processes and controls from beginning to end. In doing so it monitors all the activity, keeping track of and recording all the required events that must take place. If something happens in any of the processes that break, falls out of, or falls short of the rules, any sort of method and notification is possible, from process stoppage, to automatically generating alarms, to automatically sending out emails, messages, or whatever. A subsequent benefit from these systems, therefore, is the ability to trace complete and accurate audit trails that can be reviewed at any time. So, how do we do it with BizDoc: 01 SOX Specific Processes - Simple to develop and to execute, online specific control processes that enable reporting and monitoring financial aspects of processes such as Risk, Control, Process. Each SOX-control process is routed through defined stages of Documentation, Review, Test, Sign Off, and includes definition / description of the process, its frequency, the roles of the participants, etc. Building of procedural processes with workflow routing rules is the essence of BizDoc. Automatic scheduling of processes is also possible, for example quarterly/monthly reports, samples QC, etc. 02 Other Processes - Enterprise existing processes such as HR, Sales, Procurements, etc. that should include SOX controls. Such processes require additional workflow destinations where SOX regulations are applied. These workflow destinations may include security officers, comptrollers, legal advisors, and any other SOX experts. BizDoc easy to use administration enables fast, and non-programming modifications of workflow routing rules. Other standard functionality of BizDoc such as the Budget Matrix, the Trace, the Log, and Version fulfill most of the requirements. 03 Using BizDoc product-level controls - Enforcement of SOX controls are applicable in any process that is run by BizDoc. These controls are: Informative Windows - initiated by clicking special buttons, providing specific information such as why, what, and how the task or step has to be performed. Closing the windows by clicking "Accept"/"Comply"/"Cancel". Enforced Procedure - Dialog boxes that automatically popup before and/or after a task/step is performed, enforcing the individual to confirm by-the-book execution. Such confirmation is added to the Process form as evidence and the read document is attached to the Process form. Process Content Building - similar to the informative Windows with additional options available to authorized personnel as initiators, enabling modification of existing documents, and creating new documents, the properties of which apply as Informative Windows and Enforced Procedures after being approved by authorized executives. In other words, any modification or a new procedure initiates a workflow process to approve the new version. Top BizDoc BPM suite and BizDoc application modules are a critical part of the success of companies from various industries around the world. Read More BizDoc is helping companies, from many industries, all around the world become more efficient. View our Case Studies. All contents © 2004 Moding. All rights reserved.