Huttig Building Products, Inc. Selects Movaris for Sarbanes-Oxley Compliance and Financial Control Management

Business Wire, Sept 20, 2004

CUPERTINO, Calif. -- Movaris(R), a leading provider of financial control management software, today announced that Huttig Building Products, Inc. (NYSE:HBP), a distributor of building materials, will use Movaris Certainty(TM) to manage its internal financial controls and for its Sarbanes-Oxley Act compliance requirements. Huttig selected Movaris Certainty for its ease-of-use, control documentation and action plan capabilities for both Section 404 and Section 302 compliance, as well as for ongoing financial control improvement. Prior to selecting Movaris Certainty, Huttig utilized a software tool developed by one of the "Big 4" accounting firms, but sought a full-function application for better management of their financial controls as well as ongoing Sarbanes-Oxley Act compliance.

"While the short-term objective for most companies is year-one Sarbanes-Oxley compliance, we also want to have more visibility into our internal financial controls on a real-time basis," said Rick Baltz, vice president of internal audit for Huttig Building Products. "Movaris Certainty will assist us in making ongoing compliance a repeatable and sustainable process that is part of our everyday activity. In the future, we plan to link Certainty to our ERP system to more closely monitor transactions, identify exceptions, and instantly activate required remediation."

With 51 locations around the country, financial control management at Huttig may eventually touch hundreds of control participants. The company needed a full-featured application that could manage this distributed financial control environment. Certainty reminds geographically dispersed participants to complete control tasks specific to their roles, extending accountability throughout the organization, and ensuring completion of control activities in a timely manner.

"Huttig understands that the real value of Sarbanes-Oxley is not in meeting mandated compliance requirements, but that the act is a catalyst for more timely, accurate financial reporting," said Eric Keller, chief executive officer for Movaris. "With strong financial controls, the bottom line is much greater control over the detail in quarterly and annual reports, reduced report production time, and improved investor and director confidence."

Movaris Certainty documents financial controls, provides a comprehensive testing and review environment, initiates pre-built action plans to improve the control environment, and produces necessary compliance reports on demand. The easy-to-use web-based application links financial controls directly to the COSO and COSO enterprise risk management (ERM) frameworks, providing a strategic approach to compliance. Certainty manages control documentation in multiple repositories, and delivers the information in multiple formats for convenience and flexibility. The capabilities of this financial control system greatly reduce the time and costs for ongoing Sarbanes-Oxley Act compliance.

About Huttig

Huttig Building Products, Inc. (NYSE:HBP) is a distributor of building materials used principally in new residential construction and in home improvement, remodeling and repair work. Its products are distributed through 51 distribution centers serving 47 states and are sold primarily to building materials dealers, national buying groups, home centers and industrial and manufactured housing builders.

About Movaris

Movaris is an enterprise software company dedicated to helping organizations achieve complete compliance with Sarbanes-Oxley requirements, and improve their financial control environments, quickly and cost-effectively. Customers range from large firms, such as Proctor & Gamble and Boise Cascade Corporation, to smaller companies such as ESI and Sun Healthcare. Movaris is based in Cupertino, California, with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and Pittsburgh. For more information, please visit www.movaris.com or call 888-800-7545.