Lumigent to Launch Application GRC at IBM Information On Demand

Industry-First GRC Control Applications for Primary Business Applications Helps CFOs, CIOs, Others Reduce Costs of Meeting GRC Requirements
IBM Information On Demand 2008

To automate the manual processes associated with governance, risk, and compliance (GRC) for business applications, Lumigent Technologies, Inc. today announced it will be unveiling the industry’s first application GRC control suite at IBM Information On Demand 2008 to be held, October 26–31, 2008, at Mandalay Bay in Las Vegas. Lumigent will be exhibiting in booth 29.

At the conference, Lumigent will launch its GRC control application suite for enterprise resource planning, financial management, and other primary business applications. The Lumigent GRC applications help CFOs, CIOs, controllers, and other business executives 1) reduce the cost of meeting GRC requirements for their primary business applications and 2) improve productivity and profitability by administering governance mandates.

“We are addressing a glaring omission in today’s GRC marketplace — enterprise business applications that drive down the costs of compliance with primary business applications while increasing their effectiveness,” said John H. Capobianco, chairman of Lumigent. “Historically, GRC platforms and toolsets have been aimed at enterprise IT departments. But business executives need business-focused, GRC applications. That’s what we’re giving them.”

Lumigent Conference Highlights

Highlighting the launch of its new GRC application suite, Lumigent will be demonstrating one of its GRC applications at the conference. The company also plans to make a series of launch-related announcements, including customers and partners.

The Lumigent applications run in tandem with the primary business applications, creating and managing the GRC controls for the business applications. To create each Lumigent GRC application, the company:
analyzes a business process application, using subject matter experts to identify data source fields that must be monitored;
defines the rules and policies that should control the source data;
uses those data definitions, rules, and policies to create the complementary GRC application, which combines best practices with deep industry and regulatory expertise; and
packages the finished applications for license and installation, ensuring each application is easily utilized yet completely configurable.

Once deployed, the Lumigent application then continuously monitors the source data to provide the core GRC process intrinsically valued by CFOs and other business executives, controllers, and finance departments.

Capobianco said, “On average, a company spends $2.5 million on compliance and business controls. That is a growing trend, driven by expanding governance. Today, companies spend that money on manual labor. Given the economic uncertainty, there couldn’t be a better time to automate that process, drive down the cost, and increase the effectiveness with finished GRC applications.”

For more information on Lumigent, please visit www.lumigent.com.

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 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.
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