IRVINE, Calif., Aug. 25 /PRNewswire-FirstCall/ -- Epicor Software Corporation (Nasdaq: EPIC - News) (Company
Profile, Past
Stories, Case
Studies), a leading provider of integrated enterprise software solutions for midmarket companies, continues to expand its initiative to educate midmarket
companies on ways they can leverage their existing investment in enterprise resource planning (ERP) solutions to help them achieve compliance with Sarbanes-Oxley (SOX)
requirements. As part of a recently completed webcast for its customers, Epicor demonstrated how many SOX compliance issues may be addressed by implementing basic
control processes already inherent in many ERP solutions. Another key message Epicor stresses to its customers is that SOX isn't just about compliance -- it also offers
an opportunity for all companies, whether public or private, to improve their own internal control processes.
Part one of the Epicor webcast series, hosted by the META Group's vice president of Technology and Research Services John Van Decker and Epicor's senior vice
president and CFO Michael Piraino, provided an overview of the SOX Act, identified the types of companies likely to be impacted, and also explored implications for internal
controls. An informal survey of webcast attendees revealed that:
* nearly 70% see the compliance process as beneficial, in that it forces
businesses to better understand their processes and the levels of
internal risks they face;
* nearly 60% already have internal controls in place, but those controls
are undocumented; and
* of those companies researching or evaluating options, over 50% do not
have a clear timeline for research or evaluating their options for
compliance.
During part two of Epicor's SOX webcast, Van Decker was joined by Karen Adame, director of product marketing for Epicor's Enterprise Group, and together they examined
how current enterprise applications can help with SOX compliance.
Epicor's SOX education efforts are intended not only to help customers achieve compliance, but to also promote the inherent business benefits derived from the greater
accountability and internal control tools the Act requires.
According to George Klaus, chairman, CEO and president of Epicor, "While some mid-sized companies might view the Act as burdensome, the majority of
businesses, including smaller, private companies, can benefit from having firmer internal controls in place. For example, implementing internal control measures as part of
their automated workflow or business process management (BPM) procedures, can improve visibility, notification and information flow, enabling more insightful and timely
business decisions that could ultimately improve profitability."
Increased Visibility Through Integration -- Key to Compliance
According to a recent META Group report written by Van Decker, US firms frequently question whether their ERP implementation will meet SOX requirements, particularly
concerning Section 404 of the Act, which mandates annual assessments of internal controls over financial reporting. Major compliance areas for ERP include enabling
visibility/transparency of financial results and financial processes (through reporting tools and drill-down processes), communications (enterprise/investor portals,
alerts/notifications, performance management), control (business rules automation, workflow, commitment control, role security, document management), effective business
application integration and business process audits. Organizations can often improve efficiency simply by tightening up integration and ensuring that they are fully leveraging
their applications' built in best practices (e.g., three-way match of invoice/purchase order/receipt of goods).
While Section 404 is seen by many as one of the most challenging areas for compliance, Van Decker explained that companies that have implemented an integrated ERP
solution will find themselves in a more solid position regarding internal control and Sarbanes-Oxley compliance. "One of the biggest misconceptions many companies
have is that they are going to need to add specialized applications or completely overhaul their existing accounting systems in order to meet compliance," Van Decker
commented. "The real key is how comprehensive and well integrated their ERP solution is. To provide the enhanced visibility required by Sarbanes-Oxley, a solution
that shares data and information across the enterprise will be significantly more effective. An ERP end-to-end integrated enterprise solutions approach can be viewed by
many as the foundation for SOX compliance."
For more information on how integrated enterprise solutions can help businesses achieve compliance more easily and improve internal control, contact Epicor at (888) 937-
4267, or send an e-mail message to Sarbanes-Oxley@epicor.com.
About Epicor Software Corporation
Epicor is a leading provider of integrated enterprise software solutions for midmarket companies around the world. Founded in 1984, Epicor has over 15,000 customers and
delivers end-to-end, industry-specific solutions that enable companies to immediately improve business operations and build competitive advantage in today's Internet
economy. Epicor's comprehensive suite of integrated software solutions for Customer Relationship Management, Financials, Manufacturing, Supply Chain Management,
Professional Services Automation and Collaborative Commerce provide the scalability and flexibility to support long-term growth. Epicor's solutions are complemented by a
full range of services, providing single point of accountability to promote rapid return on investment and low total cost of ownership, now and in the future. Epicor is
headquartered in Irvine, California and has offices and affiliates around the world. For more information, visit the company's Web site at www.epicor.com .
Epicor is a registered trademark of Epicor Software Corporation. All other trademarks referenced are the property of their respective owners. The product and service offerings
depicted in this document are produced by Epicor Software Corporation.
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