SOX News

Oracle Previews New Governance, Risk and Compliance Application Suite

(March 05, 2007)-- Oracle announced the expansion of its market-leading governance, risk, and compliance (GRC) applications to help companies effectively manage multiple GRC initiatives across the enterprise with the introduction of a new application suite that manages compliance initiatives in heterogeneous environments, provides increased security through automated, pre-defined ERP controls and intends to provide greater visibility through expanded GRC intelligence.

The Oracle GRC application suite combines the strength of the heterogeneous compliance and content management capabilities Oracle acquired from the Stellent acquisition with the depth of Oracle application controls. The new suite also intends to leverage the power of Oracle Business Intelligence to deliver the market's most comprehensive GRC offering. The Oracle GRC application suite is built on the proven information security and management strength of Oracle's leading database and Oracle(R) Fusion Middleware and provides customers worldwide with a foundation for sustainable, consistent and efficient risk and compliance management.

Oracle has provided robust compliance capabilities for each of its enterprise application lines and recognized that broad GRC requirements extend across multiple business units, geographies, mandates and enterprise applications. Oracle now delivers the industry's most comprehensive offering to manage strategic, financial, technology and operational risk across the enterprise regardless of compliance mandate. For example, the suite includes support for international financial regulations including OMB A-123 in the U.S., Multilateral Instrument 52-109 in Canada, JSOX in Japan, KSOX in Korea or the Turnbull Report in the U.K. With the solutions attained through the acquisition of Stellent, the Oracle GRC applications suite allows organizations to collaboratively define and approve policies, procedures and controls throughout the enterprise and map organizational business processes and structures to the policy and control environment. Customers can manage their risks and controls holistically, breaking down compliance management silos.

"We've experienced clear process improvements and increased efficiencies from our implementation of the Sarbanes-Oxley solution from Stellent," said Danny Waxenberg, Assistant Vice President, Internal Controls at Unum, the largest provider of individual and group income protection insurance in the US and the UK. "We are pleased that Oracle is protecting our investment in the application and look forward to leveraging the latest capabilities from Oracle Governance Risk and Compliance Manager."

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