SOX Tool for reporting 2363



  • Hi,
    We are looking for a good , effective and fast SOX reporting tool which can be roll out globally in our organization.
    The same tool can be used as checklist for SOX controls sign offs and confimations for different SOX process plus documentation related to process or controls can also be stored in the same database.
    Reporting is required at all levels i.e. high level (top management), medium and low (details to individuals).
    Please can anyone help me to know which tools are available for this.
    Thanks in advance.



  • Hi, Hamjad, and welcome.
    There are several options with respect to SOX reporting/tracking tools. In recent years, many firms have gone away from offering software that solely focuses on SOX, and have moved toward a more global GRC (Governance, Risk and Compliance) approach. We use a tool from Paisley, but I cannot necessarily endorse it over any other tools. It has satisfactorily served its purpose for my company, but we use it for very bare bones applications. You may have more elaborate needs for your software tool.
    Start off by doing a search in this forum for ‘software’, etc. Also, a slmple Google search will bring up dozens of options. One note: most firms offer free web-based tours of their products upon request. Be sure to ask for a trial version (a day or so) before making a purchase. This way you can get a feel for the usability of the product prior to rolling it out in your company.
    Good luck.



  • Hi Hamjad,
    I’m new to the forum and do not know if you’ve found the tool you’ve been looking for. However, I agree with Albie…there sure are many softwares[/url] that can be found online which not only help with SOX processes but also integrate compliance requirements into the overall system.
    Erica Rowlet



  • There are many tools out there and the appropriate one for your requirements may well depend on:

    • size and complexity of your organisation
    • number of users, processes, etc
    • scope of work you want to cover i.e. SOX only, ERM, etc
      A good place to start your research would be Gartner and Forrester who would at least identify the 10-20 that are worth mapping against your requirements.
      However, do not take the results of this research too literally as some of it is the research companies perception based on surveys and interviews rather than detailed technical evaluation. When we ran our selection process we found some significant weaknesses (against our requirements) in products ranked highly by Forrester and Gartner.
      Also, there is a decent template for analysing and assesing your requirements here: www.soxrfp.com


  • I can’t add to the comments above as far as tool availability. We looked at several 3-4 years ago and ultimately settled on the tool offered by Certus. We did not end up using the tool. Our decision not to use the tool was driven by the fact that it would have required us to change the way we were doing too many things in order to get the tool to work for us as intended by the developer.
    My learnings on this that I want to pass on to you is to first develop your internal documentation and reporting based on how your company is structured and wants to manage SOX. Once you have that in place, then you should look for a tool that will fit your needs and the way you function. If you don’t approach it that way, you will be forever fighting the tool or user acceptance to get done what you want to have done.



  • I second kymike’s good post.
    We have spent an inordinate amount of time trying to find a way to fit our procedures/methods into our tool with limited success. We chose our tool based on its user-friendliness, but later discovered that it was difficult to merge our existing work into its preexisting templates and software structure.
    I agree with Kymike’s advice: first figure out what makes the most sense for your company and THEN find a product that will easily fit in without much disruption. The last thing you want to do spend several thousand dollars on a product only to have it sit in idle I.T. gathering dust.


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