LogicalApps selected for Oracle integration, feature set and understanding of governance issues
Irvine, CA — August 15, 2006 — Millipore Corp. said today that it has selected LogicalApps to provide software solutions for managing its Sarbanes-Oxley (SOX) compliance requirements as well as to streamline certain financial processes.
Millipore, a leading bioprocess and bioscience product and services company, has successfully passed its first two years of SOX audits. Notable efficiency gains had been made; however, additional IT solutions were evaluated to reap further efficiencies in Segregation of Duties (SOD) compliance along with deployment of automation tools with broader capabilities.
After an extensive evaluation of eight potential suppliers of compliance solutions for their Oracle environment, Millipore selected the ACTIVE Governance solution from LogicalApps to achieve next stage efficiency gains in selected control areas.
"LogicalApps is helping us to ensure continuous SOD compliance, improve change management controls and implement best-in-class governance methodologies that will better satisfy our SOX compliance requirements," said Fredrick O'Leary, Millipore's director of Internal Control. "Using LogicalApps, we anticipate another successful audit cycle that should be faster and more efficient than we have achieved in the past."
In addition, Millipore plans to automate its period-end close and general ledger reconciliation processes using the Financial Period Close Automation (FPCA) solution from LogicalApps. FPCA provides a customized set of process monitors and approval workflows that ensure period-close tasks are being completed in a timely manner.
"We selected LogicalApps because of their unique embedded governance approach for Oracle's E-Business Suite, including a robust SOD product and efficient period-end close solution," said Paul Kaminski of Millipore's Internal Control group. "LogicalApps understood our issues and provided substantive answers to our questions. They've built a solid business with sound financial backing, and we felt confident to engage them as a long-term partner."
Chris Capdevila, LogicalApps CEO, added, "Millipore prides itself on offering reliable and innovative technologies, and we're proud to share the same commitment to our customers. The embedded governance approach we have developed for Oracle applications can improve the manageability and integrity of a company's core business processes. We're very excited to deliver these benefits to Millipore."
Additional Articles of Interest
- — It's time to take Sarbanes-Oxley compliance to the next level for competitive advantage. Read more in "Sarbox: Setting a Better Organization in Motion," an SDCExec.com exclusive.
- Synchronize to Survive
- Sarbanes-Oxley: The Next Y2K?
- Survey Reveals New Findings on Sarbanes-Oxley Compliance
- Most Companies Working on Sarbanes-Oxley
- Survey: Most Companies Have Not Budgeted for Sarbanes-Oxley Compliance
- More articles about Sarbanes-Oxley.
— 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: