Geac Launches Enhanced Version of Geac Compliance Management Software
ORLANDO, Florida - At Geac ALLIANCE2005 - May 10, 2005 - Geac(R) (TSX:GAC, NASDAQ:GEAC) today launched a new version of its Geac Compliance Management software, which builds upon the product's core strength in business process automation by adding major new functionality in the areas of reporting and analytics, ease of use and system integration. Geac Compliance Management 2.1 is a complete, end-to-end compliance solution - encompassing documentation, testing and sign-off, reporting and executive dashboards, and process automation for compliance procedures and remediation - built on a process management platform and industry-standard technologies. It is easy to configure and integrate into existing IT infrastructure, since Geac's software allows users to integrate data from any back-office transaction system.
With its process management foundation, based on the Lombardi TeamWorks engine, Geac Compliance Management 2.1 is well suited to the needs and priorities of today's market. In an AMR Research "Outlook" published last month, entitled, "SOX Compliance-It's All About the Business Process," analyst John Hagerty wrote: "Process documentation and management remain a key investment area for business users in 2005....
Although there is no panacea, process management - whatever form it may take - is an absolute essential part of any Year One or Year Two SOX compliance program."
Geac Compliance Management was developed from the premise that the right technology can help turn a costly obligation - compliance with regulatory and legislative imperatives such as SOX, IFRS, Basel II, HIPAA and others - into a significant opportunity to improve key business processes. "Given the amount of money companies are projected to spend on technology for Sarbanes-Oxley compliance alone in 2005 - more than $1.6 billion, according AMR Research - it behooves every organization to derive as much lasting business value as possible," said Isobel Harris, Vice President and General Manager, Geac Enterprise Solutions. "In other words, our goal with Geac Compliance Management is to help companies transform their SOX technology spending into a demonstrable investment. We do that by providing a software solution that gives users the means to effect lasting, positive changes to their business operations that drive efficiencies and cost savings, as well as remediate SOX and other compliance issues."
Geac Compliance Management delivers functionality for documentation, testing and sign-off, and process automation for compliance procedures and remediation. In addition, it offers executive dashboard and robust reporting capabilities. The new release adds several enhanced documentation features -- including search, cascade deletes, batch load of attachments, and sign-off requirements changes - which provide users with greater flexibility. In addition, Geac Compliance Management 2.1 offers integration with ImageTag's paper-to-digital document imaging system, as well as enhanced security and workflow control testing and sign-off features. To facilitate implementation, Geac provides "solution accelerators" for Geac Compliance Management, including several out-of-the-box business process templates and integrations with Geac transaction systems.
Geac's solution is designed to help companies save time, reduce effort, and streamline and control processes to improve an organization's compliance efforts and its business performance. Over time, Geac Compliance Management could also help a company negotiate - from a position of strength - more favorable audit and consulting fees as it demonstrates consistent control over its financial and other business processes.
Geac Compliance Management 2.1 is available worldwide. Pricing varies depending upon configuration. Additional product information is available at http://www.geac.com/object/compliancelink_CORP.html.