Top 13 Sox Compliance Software Solutions
The Sarbanes-Oxley Act (SOX) is created to save shareholders and the general public from accounting errors and deceitful practices in any organization. This act basically focuses on which records are to be stored and for how long. This act is applicable to all multinational corporations, US public companies conducting business in USA.
As per this act, the retention period of business records including electronic documentations should not be less than five years. IT department of any organization is liable to store and maintain these data that are vital to comply with this act. In cases of violation of this act the company may face legal issues, heavy penalties and even imprisonment.
Big challenge for IT Administrators
Keeping business records of past five years is not an easy thing but this Software can simplify it to great extent. Using this application can make it possible to store business records for the required period and access them in the form of reports whenever required.
How SOX compliance software helps an organization
In order to comply with SOX compliance and stored required business records, this software provides these facilities:
- Fulfillment report creation is one of the essential features of this tool. It enables creating detailed reports regarding installed licenses, application location and validity.
- For quick overview of network-wide compliance with this regulations graphical report is also generated. This report shows entire network conformity, top four computers with maximum licensed software and top four computers for minimum licensed utility.
- Facilitates saving these reports in CSV, RTF, HTML and PDF format to access them whenever needed for internal and external audits.
- Enables the organization to be prepared for license contract refusal by providing a complete view of enterprise wide utility deployment.
The effective SOX compliance software, all reports and records that are needed to ensure SOX act compliance can be saved to a database for further reference. Thus, keeping the business records and application asset purchase, usage and inventory details for longer time period becomes easy and no risk of violating SOX compliance frightens the organization.
Top 13 Sox Compliance Software Solutions:
Nasdaq BWise has created a best practice-based delivery program, the SOX Rapid Deployment Solution (RDS), to jump start an implementation for the SOX compliance process of companies going public in the U.S.
The MetricStream SOX Compliance Management App provides a unified system to define and assess internal controls, remediate issues, and minimize compliance risks.
Transform your Sarbanes-Oxley (SOX) compliance process. Gain efficiencies in your reporting, testing, and certification processes.
AuditBoard is the industry’s most complete & user-friendly SOX Compliance and Audit Management software. Trusted by Fortune 500 companies to streamline internal controls.
LogicManager SOX Software Streamlines Risks, Controls, Issue Tracking and Testing to Ensure Sarbanes-Oxley Compliance and Accurate Financial Reporting.
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