OpenPages, the leading provider of enterprise governance, risk and compliance management (GRCM) solutions, today announced that SunTrust Banks, Inc. has selected OpenPages Sarbanes-Oxley Express (SOX Express) for its Sarbanes-Oxley compliance initiatives.
SunTrust will deploy SOX Express to automate the company's ongoing test and review of its internal controls documentation in order to reduce the time and resource costs associated with Section 404 and 302 compliance.
SunTrust, headquartered in Atlanta, is one of the nation's largest commercial banking organizations. The company operates an extensive distribution network primarily in Florida, Georgia, Maryland, North Carolina, South Carolina, Tennessee, Virginia and the District of Columbia and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services.
"With its strong reporting capabilities and web-based interface, we feel that OpenPages offers one of the most effective and efficient solutions for Sarbanes-Oxley compliance," said John A. Wheeler, Senior Vice President of Financial Reporting Risk Management at SunTrust.
OpenPages SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404 of the Sarbanes-Oxley Act. SOX Express combines powerful document management, business process management and flexible reporting capabilities in an extremely easy-to-use environment that enables an organization to document financial controls and automate the ongoing test and review process. Completely web-based, SOX Express maximizes end-user participation with little training. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls framework of the company, and to attest to the financial statements.