Movaris Announces New Certainty Applications for Financial Control Management and Sarbanes-Oxley Compliance; Sustainable Financial Control Solution Reduces SOX Compliance Costs, Delivers Transparency Across Financial Controls

Business Wire, Sept 19, 2005

CUPERTINO, Calif. -- Movaris, the leading provider of Financial Control Management (FCM) and Sarbanes-Oxley compliance solutions, today announced immediate availability of Movaris Certainty 9.0, a suite of applications that automates manual processes, identifies financial control issues, and seamlessly integrates with third party ERP and business intelligence solutions. New applications include Control Performance Management, Section 406 Compliance Management, and Risk Management.

"The new Movaris Certainty suite can improve finance organizations' performance and satisfy today's more stringent requirements for timeliness, transparency and truthfulness in financial statements by driving key financial processes more efficiently, consistently and reliably," stated Robert Kugel, vice president and research director, Ventana Research.

The New Movaris Certainty 9.0 Suite

Certainty applications are designed to work together or operate stand alone. Version 9.0 now includes built-in Flex-Select ad-hoc reporting that is designed for finance managers to easily create or modify reports without requiring any IT assistance. Optional integration with customers' existing 3rd party analytics and reporting solutions is also included. The three new Certainty applications are:

-- Movaris Control Performance Management. This new application enables finance organizations to eliminate unnecessary or redundant financial control activities, thereby eliminating avoidable financial control work and reducing attestation audit costs.

The software includes the industry's first financial control data mart, providing executives with graphical views of the performance of financial control operations. The application identifies and resolves high-risk control gaps and correlates corrective action with resulting improvements in the financial control environment.

The Control Performance Console heatmap displays aggregated performance information about control operations across business units, accounting processes, and financial statement accounts. The console's heatmap also highlights control problems using acceptable performance levels determined by management. Managers assign performance issues to appropriate personnel, monitor them to resolution, then use the Control Improvement Console to identify systematic weaknesses and share best practices across financial operations.

Control Performance Management delivers this advanced analytical capability out-of-the-box, reducing implementation and training requirements. Optionally, customers may choose to integrate the data mart with their existing business intelligence tools. See today's separate press release for additional information about the new Movaris Control Performance Management application.

-- Movaris Section 406 Compliance Management. This software automates the distribution and collection of code of conduct reviews. Using this application, companies reduce the personnel and fees required for compliance with Section 406.

-- Movaris Risk Management. This application delivers profiles of financial and operational risks using an automated, flexible assessment framework. Finance executives can identify, remediate and forecast risk thresholds, and identify viability of business initiatives for more accurate planning and analysis of business objectives.

"The Financial Control Management methodology that Movaris Certainty employs identifies and manages operational risks, automates manual controls, monitors the entire control environment, and optimizes control performance in financial operations," said Eric Keller, chief executive officer, Movaris. "With this approach executives obtain increased confidence in the quality and accuracy of their financial results."

About Movaris

Movaris, an enterprise software company, helps businesses with Financial Control Management software solutions, including Sarbanes-Oxley compliance applications that reduce audit costs, save finance organizations' time, and increase the accuracy of their financial statements. Movaris is headquartered in Cupertino, California, with offices in Atlanta, Boston, Chicago, Los Angeles and New York. For more information, please visit www.movaris.com or call 888-800-7545.

Movaris and Certainty are registered trademarks of Movaris Inc. All other company and product names are trademarks or registered trademarks of their respective holders.