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New Product Advisory: AppGRC Suite Available TodayLAS VEGAS & ACTON, Mass. --(Business Wire)-- Lumigent Technologies, Inc., the first to market with GRC business control applications, today debuted the AppGRC(TM) suite, the industry's first application GRC control suite for business applications, at the IBM Information On Demand 2008 running October 26 - 31, 2008, at Mandalay Bay in Las Vegas, booth 29. What is AppGRC? AppGRC applications strengthen the integrity of critical business operations and reporting by monitoring compliance for primary business applications. Through automated, data baselining and continuous monitoring using application based corporate controls and policies at the database layer, AppGRC provides persuasive, source-level information -- the who, what, when and before/after values -- to enhance the integrity of financial reporting and decision making. What products are available today? AppGRC for Deltek Costpoint and AppGRC for PeopleSoft Financials Who will benefit? CFOs, controllers, compliance/audit groups, and other business users Why is AppGRC important? On average, a company spends $2.5 million on compliance and business controls. That is a growing trend, driven by expanding governance requirements. Today, companies spend that money on manual labor. Considering today's economic difficulty and emerging regulatory certainty, AppGRC automates that process, driving down the costs of meeting GRC requirements while improving governance-driven productivity and profitability. Where does Lumigent fit in the GRC ecosystem? Lumigent builds upon 1) controls automation and monitoring and 2) database activity monitoring to establish a new GRC market segment: Application GRC. Lumigent AppGRC complements offerings from a variety of vendors, including Paisley, MetricStream, Approva, Axentis, Oracle, and SAP in a variety of GRC segments, including Enterprise GRC and security. How does AppGRC work? Lumigent analyzes business process applications, using subject matter experts to identify data source fields that must be monitored. We define the rules and policies that should control the source data. Those data definitions, rules, and policies go into our "Factory," where we create the complementary AppGRC application, which combines best practices with deep industry and regulatory expertise. AppGRC then continuously monitors the source data, providing before and after images of data changes that exceed policy parameters. How long does it take to deploy AppGRC? Because they're finished and pre-configured, AppGRC applications can be up and running in days rather than months. Yet, AppGRC can be extended and configured to meet an organization's unique controls and regulatory demands. AppGRC key features? Key features across the entire AppGRC suite include: -- Baselining - The AppGRC Baseline combines continuous monitoring of key controls with an easy-to-read master report, which identifies areas that require testing. AppGRC baselining provides the persuasive information necessary to skip expensive manual testing for controls that have not changed since they were tested during a prior audit. -- Reporting Templates - The AppGRC reporting templates provide the essential application and business context, so deficiencies and the actions necessary to correct them can be clearly understood. -- Command Line Interface - AppGRC includes a powerful command line interface that can be used to automate tasks related to automating controls, saving time, and ensuring performance consistency to minimize the risk of error. -- Complete Audit Trail - Policy-driven audit collection ties application user IDs to before and after views of all data changes at the field level, simplifying compliance reporting with policies mapped to specific audit requirements. What are the AppGRC system requirements? While system requirements vary by installation, the representative minimum server configuration is 2 CPUs (or a single, dual-core CPU), 8 to 16 GB of memory, and 100 to 200 GB of disk space. Supported server operating systems include Windows, Solaris, HP-UX, AIX, Linux Red Hat, and Linux SuSe. Database support includes IBM DB2, Microsoft SQL Server, Oracle, and Sybase. How much does AppGRC cost? Prices range from $42,000 to $360,000 depending on the complexity of monitored applications and size of the customer. How is AppGRC sold? AppGRC is sold through ISV's and directly from Lumigent. Contact Lumigent at 866-LUMIGENT (866-586-4436) or [email protected] to arrange a demonstration. For more information on AppGRC, see http://www.lumigent.com/solutions/appgrc.html, or for general information on Lumigent, visit www.lumigent.com. Recent News and Resources News Release: Lumigent Welcomes AMERICAN SYSTEMS to AppGRC Era; http://www.lumigent.com/news_events/press_releases.html?newsid=202 News release: Lumigent Debuts Application GRC to Offset the High Cost of Business Compliance; http://www.lumigent.com/news_events/press_releases.html?newsid=204 News release: Lumigent Launches AppGRC Suite; http://www.lumigent.com/news_events/press_releases.html?newsid=205 Market Brief: Application GRC: The Rise of Automated Business Compliance; http://www.lumigent.com/Lumigent_Market%20Brief_081010_pre%20final.pdf Screenshots: http://www.lumigent.com/files/appgrc_screenshots.zip About Lumigent Lumigent helps CFOs, CIOs, controllers, and other business executives reduce the cost of meeting Governance, Risk and Compliance (GRC) requirements for their primary business applications. Organizations worldwide use Lumigent's AppGRC(TM) software solutions in some of the most heavily regulated industries, including financial services, healthcare, manufacturing, and government. Lumigent improves operational efficiencies and mitigates business and financial risk by providing complete visibility into application data activity and automating application-aware controls to maintain the integrity of critical business information. For more information, please visit www.lumigent.com. Lumigent and the Lumigent logo are trademarks or registered trademarks of Lumigent Technologies, Inc. Other product and company names are property of their respective owners. |
