Cartesis and Robert Frances Group Define 15 Key BPM Steps to Improve Compliance; Study Proposes Shifting Focus to BPM Software that Sustains and Automates Compliance Processes

Business Wire, March 29, 2006

NORWALK, Conn. -- Cartesis, the largest business performance management (BPM) software specialist in the world, and Robert Frances Group today announced the availability of the study "Improving Compliance Sustainability with Business Performance Management" that defines 15 critical BPM capabilities for compliance.* While many organizations already spend heavily on services, the research proposes that they shift focus to BPM technologies, which can provide effective controls for sustainable financial reporting and regulatory compliance.

The 15 necessary BPM capabilities that lead to improved compliance include: comprehensive "built-in" financial controls, global compliance metrics, integration of financial results with process assessment, audibility, role-based security, automated validation of reporting packages, ability to drill-down to all levels of details, data aggregation functions, transparency and traceability, automation of legacy and manual processes, process monitoring and disclosure speed, single integrated data model, data categories, dimensions and eXtensible Business Reporting Language (XBRL).

"Compliance does not come cheaply," says John Van Decker, Sr. Vice President & Principal Research Fellow at Robert Frances Group. "Many firms have gone through a SOX 404 audit and are frustrated at the significant spending for its preparation and little derived business value or improvement."

Robert Frances Group found that enterprises are devoting between $1 million and $3 million per billion dollars of revenue on consulting services. Yet, many of these same enterprises have failed to invest in software systems that would reduce the burden of compliance in the future. Savvy firms are now turning their attention to technology frameworks, specifically BPM, to sustain compliance and reduce some incremental costs incurred in year one of SOX or IFRS.

"Technology alone will not ensure compliance," says Trevor Walker, Vice-President of Product Marketing at Cartesis. "It can however provide firms the visibility, transparency, control, communication, risk management and fraud prevention they need if BPM is thoroughly interwoven into their business processes. Ideally, firms should source all their financial management from a consistent repository linked to BPM."

The ultimate goal of BPM is to tie together metrics, consolidation, reporting strategy mapping and planning, budgeting and forecasting into a consistent framework. The right BPM software can ensure the information firms report fairly represents the company's financial condition by more easily accessing detailed results, reducing reconciliation process time by an average of 15 days, integrating seamlessly with a firm's preferred consolidation system and enabling reconciliation at both balance and invoice levels.

To learn more about compliance and BPM, register for a March 29 Online seminar at http://www.cartesis.com/en/events/webcast/40/. After the March 29th Online seminar, the Robert Frances Group study will be available at http://www.cartesis.com/en/about/whitepapers/37/.> * Robert Frances Group, "Improving Compliance Sustainability with Business Performance Management", John Van Decker, March 2006

About Cartesis

Cartesis is the largest and fastest growing Business Performance Management software specialist in the world with more than 1,300 corporate customers, 600 employees and 200 consultants worldwide. Created in 1990, Cartesis provides insight, control and confidence by unifying information, people and processes at demanding multinationals like Air France KLM, Cargill, Danone, Diageo, Nissan, Societe Generale and Standard Life. Over 24% of Fortune Global 100 companies rely on Cartesis' deep financial expertise and standard-based technology for compliance, financial consolidation, management reporting, planning, budgeting, forecasting, intercompany reconciliation; all unified in a single data-model that can be leveraged by internal and external users. Cartesis' partners include Microsoft, Accenture, Bearing Point, E&Y, KPMG and PwC. Cartesis has customers in 44 different countries and offices in Brussels, Frankfurt, London, Norwalk (CT), Paris, Tokyo, Toronto and Utrecht. For more information, go to www.cartesis.com.

All cited names and/or trademarks are the property of their respective owners.