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NetSuite —The Sarbanes-Oxley Compliance Engine

By June 18, 2013NetSuite

Sarbanes Oxley - SOX - Management When it comes to compliance, how sure can you be that your business is up-to-date and following all regulations?  With constantly changing rules, running a business becomes more difficult, and more man hours are taken up researching compliance rules than you would like.  No need to fear.  With NetSuite, you have everything you need for compliance with the Sarbanes-Oxley Act.

“The elephant in the room is that Sarbanes-Oxley doesn’t directly specify the key role of technology and its support of corporate compliance. The reality is that all roads to compliance are driven on technology’s management of business processes and data. The greatest challenge is unifying companies’ technology patchworks and fragmented data, as well as securing internal processes and ensuring integrity of operations and accurate, auditable reporting.”

 While the primary responsibility for Sarbanes-Oxley compliance rests with a company to define and document their internal processes, the internal business applications play a crucial role in ensuring that such processes are implemented and auditable.  NetSuite provides a business foundation of centralized, consolidated data management; robust and auditable financials; and seamless integrated business processes, enabling efficient operations and reliable financial reporting-serving as the compliance engine supporting internal controls and reports to fulfill Sarbanes-Oxley requirements.

Data fragmentation is the number one hurdle.

 Industry and compliance experts agree that multiple ERP, CRM, and ecommerce systems are the single greatest IT hurdle to Sarbanes-Oxley compliance. NetSuite, with its ‘one system’, real-time architecture and unified business processes, provides the perfect platform to both support and audit internal processes.

 Your defined business processes are integrated in a single system.

 With a single, integrated application for CRM, ERP, and ecommerce, NetSuite automates key business processes across your entire business, including: finance, sales, marketing, service, order fulfillment, procurement and employee management. NetSuite ensures data integrity because employees no longer have to re-enter data in different systems, rectify inconsistent or inaccurate data, or wait for batch updates.  Instead, all your data is consolidated in real-time, ensuring greater process control with reporting visibility and accuracy.

 Real-time, ad hoc and historical audit history increase visibility and reporting control.

 NetSuite’s customizable Dashboards offer real-time access to key performance metrics, supporting intelligent, timely business decisions.  System sensing and alerts provide instant notification of out-of-compliance positions, enabling proactive management of at-risk issues. In addition, standard operating and ad hoc financial reports provide clarity and visibility for regulatory reporting.

Contact Our NetSuite Team

Are you interested in learning more? Contact SWK’s NetSuite professionals for additional information at 877-979-5462, or click here to contact us.

 Image courtesy of pakorn/ FreeDigitalPhotos.net

SWK Technologies, Inc.