Energen Corporation Selects Approva
May 10, 2004 - Vienna, VA
Approva® Corporation, a leading provider of enterprise controls management software for ERP business processes, today announced that Energen Corporation (NYSE: EGN), a diversified energy holding company, has selected Approva’s BizRights for Controls Monitoring software.
BizRights provides an automated solution to help business users find and resolve internal controls violations, such as segregation of duties and inappropriate access to sensitive transactions. Unlike traditional controls audits that are point in time and sampling based, BizRights continuously monitors internal controls inside ERP systems, helping to find violations as they occur and proactively preventing new ones from entering the environment.
“We are pleased to be acquiring the BizRights product to assist us with our enterprise controls management,” Brunson White, vice president and chief information officer of Energen, said.
Improving overall business processes, BizRights enables finance managers to define customized business rules across the company and receive immediate notifications when changes have been made. As a result, finance managers gain continuous visibility into internal controls, eliminating constant, manual queries. BizRights helps finance, internal audit and security managers work together to reduce total preparation time for its external audit.
“We provide our customers with greater visibility into business processes and controls across their organizations,” said Prashanth (PV) Boccasam, Approva’s CEO and founder. “Forward-thinking companies have deployed BizRights to cost-effectively achieve and maintain compliance with the Sarbanes-Oxley Act, and improve their business efficiency in the process.”
Energen will deploy BizRights for Controls Monitoring within its SAP® R/3® environment. BizRights is the first and only enterprise software solution for continuous controls monitoring that has achieved certified integration with SAP R/3 version 4.7.
About Approva Corporation
Approva Corporation is a leader in enterprise controls management software for ERP business processes. Continuous monitoring has become increasingly critical as companies consolidate their ERP instances, upgrade to new versions and roll out ERP to more users. Complying with government regulations, such as the Sarbanes-Oxley Act of 2002, amplifies the need for companies to increase the frequency, accuracy and depth of their audit process. In contrast to existing snapshot-in-time tools or manual solutions, Approva BizRights® product suite is an integrated monitoring business application that is continuous, business-friendly and proactive. Its business user-oriented solutions help financial executives, business managers, application security and auditors continuously identify, document, test, remediate and monitor business controls. The end results are greater visibility into business risk, improved compliance and increased efficiency. For more information visit us at www.approva.net.
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