Fabless chipmaker chooses IFS solutions to meet SOX requirements by end of year
Chicago — September 28, 2004 — Fabless chipmaker Catalyst Semiconductor has signed a contract to implement software from IFS to support its Sarbanes-Oxley compliance efforts, aimed at meeting the financial reporting regulatory requirements by the end of this year.
The Sunnyvale, Calif.-based company is a developer and marketer of programmable products used in telecommunications, networking systems, computation, automotive, industrial and consumer markets.
Tom Gay, chief financial officer of Catalyst, explained that one of the company's critical needs is to be Sarbanes-Oxley compliant by the end of this year. To meet this deadline, Catalyst will be using IFS Business Modeler to document all its business processes.
"IFS Document Management will enable us to organize and track our audit-related documentation," Gay explained. "And IFS' corporate performance management solution will allow us to set up business scorecards to monitor our performance in critical areas and receive instant alerts of any exceptions to our controls or to the expected results."
Gay said that Catalyst selected IFS based on its solution's functionality and ease of use, as well as the company's belief that IFS offered the lowest total cost of ownership.
The high-tech industry is one of IFS' targeted vertical markets. IFS offers industry-specific solutions for companies in the electronic equipment, electronic component and semiconductor industries. These solutions support all business processes, from design and mixed-mode manufacturing to after-sales support and warranty management, according to IFS.
High-tech customers using IFS solutions include National Semiconductor, Philips Business Communications, Rockwell Automation and Olympus Optical.
For more information on Sarbanes-Oxley, read Parts 1 and 2 of the recent SDCExec.com series on Contract Management: Five Myths of Contract Management, and Contract Management: Improving Corporate Governance.Other recent SDCExec.com articles on Sarbanes-Oxley: