3.2.09
Security Weaver Receives ''Positive'' Rating from Leading Industry Analyst Firm Research
San Diego, CA
Security Weaver�® a leading provider of governance, risk and compliance management(GRCM) software for SAP�®, today announced its Segregation of Duty Software (SOD) software suite was evaluated and Security Weaver received a “Positive” rating from Gartner. In a January 15, 2009, report titled “Continuous Controls Monitoring for Transactions: The Next Frontier for GRC Automation”, Gartner discusses the how Continuous controls monitoring for transactions can produce a quick return on investment by identifying failures of internal controls. Gartner states “When implementing CCM-T, most organizations start with the procure-to-pay process. Procure to pay is a focus for anti-fraud, and it also provides an opportunity for immediate return on investment by reducing, for example, payment of duplicate invoices. Next steps can include travel and entertainment (T&E) and order-to-cash processes. CCM-T and the other CCM subsegments support both continuous monitoring for management and continuous audit for internal auditors” Gartner points out that ”the Public Company Accounting Oversight Board's (PCAOB's) Audit Standard No. 5 encourages controls automation as a means to lower audit costs and improve controls reliability (see "Sarbanes-Oxley Update: How to Best Support the CFO"). CCM-T and other CCM solutions can produce similar benefits from the automation of financial application controls monitoring.” "Security Weaver's rapidly growing customer base is well positioned for the future because our solution integrates function based architecture. Our architecture is ideal for business users with an SAP-centric approach because it affords the highest level of granularity and satisfies the most demanding IT administrators and auditors." said Neil McConnell Security Weaver Chief Operating Officer. In its earlier September 25 2008 report “MarketScope for Segregation of Duty Controls within ERP and Financial Applications” Gartner states “The market for segregation of duty (SOD) conflict management within ERP and financial applications remains robust, and is projected to reach $300 million in total software revenue in 2009.” Gartner continues “Auditors and audit findings continue to drive this market.” And “By 2010, auditors will expect regulated organizations to detect fraud by performing transaction monitoring on a continuous basis, and 60% of regulated organizations will have such an automated process in place.” "In this new era of transparency, accountability, and regulation, organizations around the world recognize the value of having SOD/CCM-T solutions that manage and negate risk while improving the quality and effectiveness of compliance programs." McConnell stated. "We believe Gartner’s “Positive” rating of Security Weaver confirms our deep-rooted commitment to our clients and to their success in solving governance, risk and compliance challenges at the lowest cost of total ownership.” About the MarketScope: The MarketScope is copyrighted 2008 by Gartner, Inc. and is reused with permission. The MarketScope is an evaluation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the MarketScope, and does not advise technology users to select only those vendors with the highest rating. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Security Weaver: Security Weaver is a leading provider of governance, risk and compliance management (GRCM) software for SAP��®. Our flagship software suite, Security Weaver is engineered to give customers a unified view of their enterprise-wide application environment so they can reduce the risk of fraud, accelerate the efficiency of operations and ease the burden of ongoing compliance requirements. Security Weaver's suite of products includes tools for the management of enterprise wide segregation of duties (SoD) conflicts, full automation of the user provisioning process, control of privileged user access, configurable process controls and advanced audit analytics integrated with robust reporting and workflow capabilities. Organizations throughout the world are using Security Weaver to support a robust GRCM framework in SAP while providing Finance, IT and Audit with the tools and visibility they need to reduce the risk of fraud and ensure compliance. For more information, visit www.securityweaver.com. Media Contact: Rita Macdonald Security Weaver (650) 444-7900 rita@securityweaver.com