Actuate Corp., a provider of enterprise reporting applications, has unveiled its Actuate Financial Performance Management Solution -- a product that generates real-time reports for department employees with fiscal responsibility. The solution uses enterprise information integration technology to pull information from finance, human resources, revenue, and budgeting and forecasting databases to create on-demand reports. Previously, financial information pulled using EII software would be updated roughly once a month said Richard Stark, Actuate's director of financial performance management. Accompanying the speedier delivery is a shift in responsibility from the finance department to line managers and executives. "The product distributes accountability," said Stark, "putting the line managers' hands in the fire." With the Web-based, XML-compatible application, managers can verify and validate expenses within their departments without waiting for a monthly report from finance. This, in turn, shifts responsibility for compliance with such regulations as Sarbanes-Oxley to the enterprise as a whole. "Finance trying to do forecasting is like driving from the back of the bus," said Stark. Stark added that suspicious activities, forecasting or discrepancies could be more easily monitored with the new software. The product offers information on who has reviewed the company's data, what data and when, as well as textual annotations to explain expenses and purchases. Costs start at $150,000 for a 50-user license or $560,000 for a 500-user license, and includes 50 days of on-site professional services as part of a customer service package and call center support program.
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