No Magic and Inferware Team to Deliver Affordable Solution Mitigating Compliance Audit risks
Cameo eCompliance™Powered by Inferware’s Compliance Transparency Suite™ Brings Next Generation Full Transparency to Enterprise GRC.
Plano, TX, June 12, 2009 --(PR.com)-- No Magic, Inc. and Inferware Corporation today announced the general availability of Cameo eCompliance™ as a cost-effective complete compliance solution. A key element to the Cameo eCompliance™ solution is the Transparency Control Center™, originally developed by Inferware and is a proprietary Inferware technology identified and known in the marketplace as ‘Compliance Transparency Suite’™. This powerful software solution is comprised of a validated process reinforced by a set of tightly integrated components that work together to ensure a regulated entity is “audit ready”. As more and more companies are being scrutinized through federal and industry regulations, the need for a structured system is paramount to support not only measuring compliance to existing laws but also determine future compliance to new regulations as they are announced.
Most industries throughout the world are impacted by current and pending regulations. Their solution maintains the traceability links between the hardcopy documents, corporate goals, strategies, processes, policies, requirements, models, and business rules so an organization can sustain proper compliance activities. Primary deployment of the software solution can be either on or off client premises since the main Transparency Control Center™ requires only a web browser.
“With the advent of more policies, rules, and multiple regulations, it is clear that an organization of any size must look to proven technologies to help manage all of this chaos. With compliance assessment fees now reaching one million dollars per day, even for a single infraction, no corporate enterprise can ignore compliance issues without putting their entire business at risk”, said Gary Duncanson, President and CEO of No Magic, Inc. and Board of Director Member at the Object Management Group (OMG). “Our new 4th generation compliance solution has been fully tested and validated at existing sites, we now are pleased to be introducing our Cameo eCompliance™ solution as one of the most cost-effective offerings of its kind in the industry. It can help in both adding structure to an organization’s existing compliance process as well as suggesting improved methods to ensure full compliance to avoid paying costly regulatory fines.”
A key benefit of Cameo eCompliance™ is the transfer of knowledge regarding Business Policy Management. The Policy Management Process™ provides a proven methodology, a set of workflows, activities and artifacts that enable organizations to:
Discover the existence and characteristics of policies in legacy documents
Model the current state of policy compliance with management objectives and regulations
Assess the behavioral objectives stated in the policies and evaluate their ability to be enforced by manual or automated processes
Identify contradictions in policy collections
Determining a plan of action for maximizing compliance with policy objectives
“Over the years, we have been helping our customers incorporate standards and best practices to develop effective compliance programs, thereby reducing the recurring costs of demonstrating compliance -- preparing them for both internal and external audits” said Said Tabet, President of Inferware and Director at the Object Management Group (OMG) technology standards body. “We are excited to see this solution helping make a positive impact in major industries such as Energy, Financial Services and Healthcare. Cameo eCompliance™ differentiates itself from other products by using open standards and a flexible platform to fit within your organization’s budget dollars.”
The major components of the Cameo eCompliance™ solution include:
Policy Management Process™ – a methodology for extracting, interpreting, documenting and managing policies, processes and procedures
Transparency Control Center™ – an information rich repository for housing compliance goals, objectives and test plans providing linkage to appropriate policies, rules, business processes, workflows and assessments
Dashboard Alerts – a realtime monitoring component to aide in identifying and escalating issues
Reports & Charts – a capability to output tables, graphs, and charts for review by executive stakeholders
Modeling – a description of domain-specific information, company workflows and organizational responsibilities
Vocabulary and Rules – a component to manage vocabulary and rules that are both industry-specific and customizable by corporate policy makers
PR Contacts:
No Magic, Inc.: Raymond Hertz Phone: 214 291 9100 Email: ray@nomagic.com
Sales Contacts:
No Magic, Inc. Phone: 214.291.9100 Email: sales@nomagic.com
Inferware Corp. Phone: 800 763 3090 Email: sales@inferware.com
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Most industries throughout the world are impacted by current and pending regulations. Their solution maintains the traceability links between the hardcopy documents, corporate goals, strategies, processes, policies, requirements, models, and business rules so an organization can sustain proper compliance activities. Primary deployment of the software solution can be either on or off client premises since the main Transparency Control Center™ requires only a web browser.
“With the advent of more policies, rules, and multiple regulations, it is clear that an organization of any size must look to proven technologies to help manage all of this chaos. With compliance assessment fees now reaching one million dollars per day, even for a single infraction, no corporate enterprise can ignore compliance issues without putting their entire business at risk”, said Gary Duncanson, President and CEO of No Magic, Inc. and Board of Director Member at the Object Management Group (OMG). “Our new 4th generation compliance solution has been fully tested and validated at existing sites, we now are pleased to be introducing our Cameo eCompliance™ solution as one of the most cost-effective offerings of its kind in the industry. It can help in both adding structure to an organization’s existing compliance process as well as suggesting improved methods to ensure full compliance to avoid paying costly regulatory fines.”
A key benefit of Cameo eCompliance™ is the transfer of knowledge regarding Business Policy Management. The Policy Management Process™ provides a proven methodology, a set of workflows, activities and artifacts that enable organizations to:
Discover the existence and characteristics of policies in legacy documents
Model the current state of policy compliance with management objectives and regulations
Assess the behavioral objectives stated in the policies and evaluate their ability to be enforced by manual or automated processes
Identify contradictions in policy collections
Determining a plan of action for maximizing compliance with policy objectives
“Over the years, we have been helping our customers incorporate standards and best practices to develop effective compliance programs, thereby reducing the recurring costs of demonstrating compliance -- preparing them for both internal and external audits” said Said Tabet, President of Inferware and Director at the Object Management Group (OMG) technology standards body. “We are excited to see this solution helping make a positive impact in major industries such as Energy, Financial Services and Healthcare. Cameo eCompliance™ differentiates itself from other products by using open standards and a flexible platform to fit within your organization’s budget dollars.”
The major components of the Cameo eCompliance™ solution include:
Policy Management Process™ – a methodology for extracting, interpreting, documenting and managing policies, processes and procedures
Transparency Control Center™ – an information rich repository for housing compliance goals, objectives and test plans providing linkage to appropriate policies, rules, business processes, workflows and assessments
Dashboard Alerts – a realtime monitoring component to aide in identifying and escalating issues
Reports & Charts – a capability to output tables, graphs, and charts for review by executive stakeholders
Modeling – a description of domain-specific information, company workflows and organizational responsibilities
Vocabulary and Rules – a component to manage vocabulary and rules that are both industry-specific and customizable by corporate policy makers
PR Contacts:
No Magic, Inc.: Raymond Hertz Phone: 214 291 9100 Email: ray@nomagic.com
Sales Contacts:
No Magic, Inc. Phone: 214.291.9100 Email: sales@nomagic.com
Inferware Corp. Phone: 800 763 3090 Email: sales@inferware.com
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Contact
No Magic, Inc.
Gary Duncanson
(972) 527-9377
www.nomagic.com
Gary Duncanson
(972) 527-9377
www.nomagic.com
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