Financial management and compliance software provider Movaris has launched OneClose, a single close application that links financial controls and close tasks to financial statements during the final series of financial reporting processes.
The proprietary new offering also creates a consolidated system of record for financial statements, the financial close and Sarbanes-Oxley compliance.
Other key features of OneClose include:
- Financial Statement Console -- links financial statement line items directly to controls and close tasks.
- Close Task Manager -- documents, standardizes and automates the close process, eliminating bottlenecks and highlighting problems early.
- Sarbanes-Oxley Compliance - documents, standardizes and automates financial compliance activities, identifying and eliminating redundant and low value controls by linking all control activities to financial statement line items.
- OneClose Binders - automatically generates detailed Close and Compliance binders for the entire enterprise, thereby eliminating the need for external auditors to manually gather and review evidence from disparate sources and regional offices.
- OneClose System of Record - captures and secures transactions and documents associated with Close and Compliance.
"Regulatory guidance instructs companies to integrate the Sarbanes-Oxley review of internal controls with the periodic preparation and audit of financial statements, though until today, companies have not been able to do so," said Movaris chief executive Eric Keller, in a statement. "[Movaris OneClose] fixes this problem by synchronizing compliance and close activities, and standardizing the correct sequence of 'last mile' activities across the entire enterprise."For more information go to www.movaris.com/oneclose.
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