Documentum has joined forces with BearingPoint Inc. to offer the Corporate Governance and Compliance solution to help organizations meet impending deadlines for compliance with the U.S. Sarbanes-Oxley Act. New federal corporate reporting requirements have mandated large corporations to have in place internal financial processes and related systems that meet the requirements of the Act by later this year or face possible criminal charges.

Through a combination of Documentum’s enterprise content management and collaboration technology and BearingPoint’s financial services and content management experience and methodologies, the solution can assist corporations in planning, assessing and implementing procedures needed to meet mandatory Sarbanes-Oxley requirements for internal controls and certification of financial statements. The solution is immediately available through Documentum and BearingPoint.  

“Regulatory changes and impending compliance deadlines demand a rapid shift in CFO and CEO priorities,” said Andrew Warzecha, senior vice president and service director at META Group. “Accuracy, timeliness, transparency and completeness of financial reports are now mandatory requirements with company executives personally responsible for ensuring compliance.We are now beginning to see the first comprehensive solutions bridging the necessary technologies, methodologies and process that can help organizations quickly and cost-effectively identify risks and implement necessary changes.”

Designed for public companies striving to comply with Sarbanes-Oxley requirements, the jointly developed Documentum/BearingPoint Corporate Governance and Compliance solution includes processes, controls and technology components that can be implemented independently, or as an integrated solution with new and existing technology, and the solution can be tailored to meet unique compliance requirements. The multi-faceted solution can help companies develop a secure framework and infrastructure for establishing internal controls and facilitating the collaborative preparation, review, publication and certification of financial reports.  

Key components of the Documentum/BearingPoint solution include:

• Enterprise Controls and Records Repository – The Documentum ECM platform provides a secure, centralized environment and repository to manage financial procedures and reports, required to comply with the requirements of Sarbanes-Oxley.  This secure electronic cabinet enables organizations to cost-effectively and automatically capture, share, track, archive, and eventually destroy, all types of financial reports and records, corporate communications, including email and business transactions, and other relevant information.
• Expedited Securities and Exchange Commission Reporting – Workflows automate and record the collection, compilation, review, formatting, publication, archival and disposition of financial records and related documents, and centralized dashboards provide visibility, which helps to accelerate accurate 10K and 10Q reporting.
• Automated Exception Handling – Workflows can be configured to monitor and identify exceptions to automatically monitor standard policies or practices, ensuring that the exceptions are adequately reviewed, approved and archived.  Potential issues are flagged and quickly escalated, and collaborative workplaces can be automatically generated for fast, secure resolution.  Resolutions are then automatically linked back into the original workflow process.  In addition, all exception handling is automatically archived.
• Compliance Digital Workplaces – A series of digital workplaces can be used to channel content to targeted recipients, enable real-time meetings and discussions and facilitate collaborative management of relevant content.  Companies can use these workplaces to develop internal controls, implement enterprise-wide compliant programs and create a secure environment for board members and audit committees to collaborate. Anytime, anywhere web access ensures that team members have continued visibility across departments or geographies, and executive dashboards provide a consolidated view of projects.