WestJet Selects IBM Workplace Software to Help Respond to Diverse Regulatory Requirements

Enhanced IBM Workplace(tm) for Business Controls and Reporting Expands Flexible Platform for Governance, Risk and Compliance; Grows Business Partner Support

Select a topic or year

SOMERS, N.Y. - 23 Mar 2005: IBM today announced that WestJet, Canada's leading low-fare airline, joins the ranks of other customers who have chosen IBM Workplace for Business Controls and Reporting to address their internal audit controls requirements. Available now, IBM Workplace for Business Controls and Reporting 2.5 is designed to help companies reduce the total cost of compliance efforts by addressing a wide range of regulatory and business control-related issues.

"We had the opportunity to test the product before making our purchase decision, which was very important to us. At the end of that exercise, we were convinced that IBM Workplace for Business Controls and Reporting could help us meet the Canadian Multilateral Instrument 52-109/111 financial governance requirements," said Corey Wells, WestJet's Director, Audit & Advisory Services.

"Specifically, the product's structure, flexibility and ease of use, along with IBM's commitment to developing a world-class product were all key factors in our decision. Additionally, the product supports both the COSO and COBIT frameworks, allowing us to capture both financial and IT controls within one platform. Ultimately, we believe that this product will substantially reduce the complexity of our business controls management infrastructure, resulting in both time and cost savings," said Wells.

Based on customer feedback and their diverse requirements, IBM's latest release helps companies evolve from compliance efforts related to Section 404 of the Sarbanes-Oxley Act to enterprise-wide control management. This integrated control environment gives companies a solid foundation to implement a complete enterprise risk management solution. In addition, IBM Workplace for Business Controls and Reporting team rooms and collaboration capabilities can also help organizations support financial reporting accuracy and real time disclosures.

"Since the compliance push behind the Sarbanes-Oxley act last year, many organizations are starting to take a far more holistic approach to internal controls versus a series of one-off propositions," said Larry Bowden, vice president, IBM Workplace Software Solutions, IBM. "IBM is responding to this trend with a business controls and reporting product that delivers a way to help reduce the cost and complexity of managing different controls throughout an organization."

IBM Workplace for Business Controls and Reporting Can Help Reduce Compliance Costs, Dedicated Resources IBM Workplace for Business Controls and Reporting is designed to offer several new benefits including the ability to reduce systems, processes, controls and dedicated staff, as well as the ability to reuse controls and tools. New features include:

-- A Sustainable, Open Business Control Management Platform - Spanning beyond financial controls to also help manage controls for information technology, banking, life sciences and other industry regulations.

-- Enhanced Application Integration - Through industry-leading portal technology and role-based access, ability to link controls with source financial, ERP and other systems.

-- Flexible Deployment Options - Including a streamlined option using a native relational database, a more robust option that leverages a built-in enterprise content management system and a hosted option enabling lower administrative overhead and up front capital costs.

Expanded Reporting and Business Intelligence Partnerships
With the release of IBM Workplace for Business Controls and Reporting 2.5, the industry's leading reporting and Business Intelligence (BI) solutions such as Actuate, Business Objects and Hyperion are now able to use Workplace for Business Controls and Reporting to produce reports that meet specific and custom information needs. This can help customers protect their existing BI and reporting investments, while extending Workplace for Business Controls and Reporting to show a range of data beyond financial controls.

-- Actuate
Both IBM Workplace for Business Controls and Reporting and Actuate's FPM Solution aim to drive down the cost of compliance efforts. "Actuate's FPM Solution strives to do this by distributing accountability for financial performance across the organization and through collaboration and process management ensure that regulations are met," said Richard Stark, director, financial performance management solutions of Actuate Corporation. "Actuate is optimistic that with Workplace for Business Controls and Reporting, IBM shares our vision and we look forward to fostering our relationship to deliver ongoing value, ensuring that information is effectively adopted by those who need it to satisfy increasingly stringent financial reporting requirements."

-- Business Objects
"With the launch of IBM Workplace for Business Controls and Reporting 2.5, organizations will be able to more effectively manage a broader set of compliance issues within a single controls management platform," said Jon Dorrington, vice president of alliances at Business Objects, "Business Objects is pleased to continue to provide out-of-the-box reporting for Workplace for Business Controls and Reporting 2.5 and has extended an additional free license offer to Workplace for Business Controls and Reporting customers. The Crystal Reports solution automates processes around report creation, scheduling and distribution, improving visibility into key compliance metrics and reducing the time and cost associated with meeting compliance reporting requirements."

-- Hyperion
"We view IBM's Workplace for Business Controls and Reporting solution as a foundation for clients to build a phased approach in order to gain insight into their business," said Rich Clayton, vice president of product marketing at Hyperion Solutions Corporation. "Combining Hyperion Business Performance Management solutions with the Workplace for Business Controls and Reporting platform enables our clients to closely monitor the status of their key initiatives as they relate to compliance and business performance goals in a more efficient, comprehensive and cost-effective fashion."

IBM Workplace for Business Controls and Reporting 2.5 is available through standard Passport Baseline pricing. Pricing is per 25 registered user pack SRP $28,750 ($USD) and includes one year maintenance and support. Prices subject to change. Resellers set their own prices and may vary.

Related XML feeds
Topics XML feeds
Information Management, Lotus, Tivoli, Rational, WebSphere, Open standards, open source