Lumigent Launches AppGRC for Lawson S3 Enterprise Financial Management

April 27, 2010

Tools

Lawson Users Can Achieve Increased Risk Mitigation by Continuously Monitoring Over 1,000 Predefined Key Application Controls

Solution mitigates business risk by increasing fraud detection and improving audit efficiency
Pre-built, off-the-shelf application reduces the cost of auditing by eliminating the need for extensive sampling
New product continuously monitors predefined key controls and policies for Lawson S3 Financial Management, ensuring the integrity of critical business information

ACTON, Mass.--(BUSINESS WIRE)-- Lumigent Technologies, Inc., the GRC business apps company, today announced the immediate availability of AppGRC^® for Lawson S3 Enterprise Financial Management^®, the industry’s first off-the-shelf controls monitoring solution for the Lawson financial suite. Lumigent’s latest AppGRC^® solution helps CFOs, controllers, auditors, and other business users reduce corporate risk.

“Lawson Financial software has earned a reputation in the service sector for enhancing transparency of business, strengthening financial discipline, helping improve business process and reducing costs,” said Paul Campaniello, vice president of marketing at Lumigent. “While Lawson S3 offers some built in controls, it is unable to provide a full view of all system access. No business process works perfectly. The sooner an error is identified and corrected the better. What Lumigent brings to the table is a solution specifically designed to safeguard the application.”

AppGRC for Lawson S3 Enterprise Financial Management

Working with leading experts in internal audit and risk management, Lumigent developed AppGRC for Lawson S3 Enterprise Financial Management to serve as a financial compliance control system that runs alongside Lawson S3 Enterprise Financial Management. For Lawson users, AppGRC strengthens the integrity of critical business operations and reporting.

Through automated data baselining and continuous monitoring of key policies and controls, AppGRC enhances the accuracy of financial reporting and decision making by providing persuasive, source-level information. AppGRC for Lawson S3 Enterprise Financial Management doesn’t just monitor controls — it is the control system, and it captures every change to the source data it monitors. Through continuous monitoring, the Lumigent solution also assures that a report of “no change” is provable and persuasive, thereby satisfying all of the requirements for auditors.

AppGRC for Lawson S3 Enterprise Financial Management is pre-configured to monitor the most critical application data and can be up and running in days, typically delivering an ROI within one audit cycle. Additionally, it can be further configured to meet an individual organization’s unique controls and regulatory requirements.

Pricing and Availability

AppGRC for Lawson S3 Enterprise Financial Management is available now and is priced starting at $90,000, depending on the size of the organization.

For more information on AppGRC, see http://bit.ly/AppGRC, or for general information on Lumigent, visit www.lumigent.com and the Lumigent blog at http://www.lumigent.com/blog/. Follow Lumigent on Twitter at @Lumigent or Facebook at http://www.facebook.com/Lumigent.

Resources

AppGRC^®: http://bit.ly/AppGRC

AppGRC^® for Lawson S3 Enterprise Financial Management: http://www.lumigent.com/automated-auditing-appgrc/appgrc_lawsons3.html

Lumigent website: http://www.lumigent.com

Lumigent blog: http://www.lumigent.com/blog/

Lumigent on Twitter: http://www.twitter.com/Lumigent

Lumigent on Facebook: http://www.facebook.com/Lumigent

Lumigent press releases: http://www.lumigent.com/news_events/press_releases.html

Lumigent executive commentaries: http://www.lumigent.com/news_events/executive_commentaries.html

Lumigent artwork: http://www.lumigent.com/news_events/artwork.html

About Lumigent

Lumigent mitigates business risk by increasing error and fraud detection and improving audit efficiency, while simultaneously reducing the cost of auditing by limiting the need for extensive sampling. Lumigent’s AppGRC^® is an off-the-shelf business application that continuously monitors over 1,000 predefined key application controls, ensuring the integrity of critical business information. Lumigent has over 500 customers, including over half of the Fortune 100. Lumigent has been in business for over 10 years and is headquartered in Acton, MA. For more information, please visit www.lumigent.com.

Lumigent, the Lumigent logo, AppGRC and The Camera in the Vault are trademarks or registered trademarks of Lumigent Technologies, Inc. Other product and company names are property of their respective owners.

Tags: AppGRC, Application GRC, The Camera in the Vault, GRC, governance risk and compliance, Deltek, PeopleSoft, Lawson, continuous monitoring, control monitoring, risk mitigation, regulatory compliance, automated compliance, regulatory compliance, SOX compliance, compliance reporting, auditing and compliance reporting, automated auditing, database audit, Oracle audit