[April 11, 2005] BWise and Cordys Strengthen Real-Time Integration Capabilities of Sarbanes Oxley Solution Tweet NEW YORK --(Business Wire)-- April 11, 2005 -- Combined Solution Streamlines Section 404 Compliance and Reduces Related Costs via Automated Evidence Collection A global strategic alliance was announced today between BWise, a leading provider of enterprise risk management (ERM), corporate compliance and internal control software, and Cordys, a global software company providing a best-in-class Enterprise Service Bus (ESB) for web services based business process integration. Under the terms of the alliance, Cordys will resell the BWise solution embedded with key capabilities offered through the Cordys Platform to enable automated evidence collection. Section 404 of the Sarbanes Oxley Act of 2002 covers "management assessment of internal controls" and requires certification of the fundamental controls and processes used to compile a company's financial results. The combination of Cordys' market leading ESB and BWise' ERM corporate governance suite will reduce the cost of Section 404 compliance and speed up related auditing processes. The solution will also strengthen the ability for an organization to easily comply with Section 409, which calls for real-time disclosure of material events. "BWise In Control - Cordys Inside" integrates existing systems and applications to the BWise corporate governance suite in real time and will significantly improve testing control efforts. A virtual, secure "window" into enterprise data points will be made quickly available to auditors, enabling automatic evidence collection, maximizing efficiencies, and decreasing associated costs. "Cordys and BWise are a perfect match for the marketplace as companies seek practical, affordable solutions to help make the enterprise an efficient, standardized operation," stated Justin Anderson, President of Cordys North America. "We are excited to offer customers the combined power of a proven ERM corporate governance solution and real-time integration that helps ensure fast and reliable adherence to the latest Sarbanes Oxley requirements." "BWise is extremely pleased to see our solution offered with the added value of Cordys' best of breed functionality for business process management and back-end connectivity, as this will make Section 404 compliance easier and more cost effective," says Robert Pijselman, CEO of BWise. "All publicly traded companies will now have the opportunity to not only streamline the required processes for Sarbanes Oxley evidence collection and testing - but turn compliance into a standard, sustainable and largely automated business practice." About BWise BWise is a leading enterprise risk management (ERM), corporate compliance, and internal control software provider, based on a solid foundation of business process management. Established in 1994, BWise delivers proven solutions to help organizations become "in control" by increasing corporate accountability; strengthening financial, strategic and operational efficiencies; and maximizing performance and ROI. With more than 1,200 customers worldwide and 110,000 users in virtually all markets, BWise has developed a sustainable presence in the compliance sector. For more information, visit www.bwise.com. About Cordys Cordys (www.cordys.com) helps companies to create more efficient and collaborative business environments by enabling IT systems to be integrated with new business processes, using Web-services. Cordys uses an event-driven ESB to simplify IT structure while providing an integrated platform within which new functionality can be readily created and deployed. This enables IT systems to rapidly respond to changes in business processes and to new business initiatives. Cordys makes existing IT systems future-proof, at acceptable costs and at a company's own pace. Cordys is a global software company headquartered in Putten, the Netherlands, which employs over 575 people in offices across the Americas, Europe, China and India. [ Back To TMCnet.com's Homepage ]