1.  Have an orderly way to document your narratives and controls

You will really appreciate having a structure within which to document your controls -  creating both efficiency and consistency.

    

Most likely the first task that you will face is documenting your processes and controls. So one of the first things you'll appreciate about Implexus is that it has a very robust, yet simple documentation module where you can document an unlimited number of narratives and controls. 

As you go through the iterative process of creating your narratives, Implexus can track changes to those iterations, allow you to run status reports, and allow others to view your documentation for immediate feedback.

2.  Don't test too much

Over-testing controls is expensive and a very real waste of precious time.  Implexus software will help you identify your risks and the controls that address those risks, so you test the right amount.

      

Once you have documented your controls you will want a robust, simple way to assess risk so you know which controls to test - on a risk-relevant basis.

Implexus has a sophisticated risk assessment module that visually shows you a mapping of your controls to your assessed areas of risk.  It's then a snap to see vulnerabilities and excesses in your testing approach, and change your testing approach to be intelligent and risk-based.

3.  Make your SOX | GRC processes much less labor intensive

Don't spend time coordinating the same information between multiple sources.

Implexus will help you with all aspects of SOX 404 compliance.  Within Implexus you can: 

document narrative document controls profile your controls link controls to financial statements

create and maintain risk matrices perform risk assessments run reports create test plans and manage all testing

4.  Software and implementation are very affordable

You'll find that we do business in a straightforward way that respects your time and budget. But don't take our word for it - ask our references.

We offer very affordable implementation and training packages that allow you to get up and going with SOX without making it the only thing you work on for the next 6 weeks.  In fact, most often we can offer an "offsite" implementation whereby we do most of the work remotely without interrupting much of your workweek at all.

5.  Perform Control Self Assessments

CSA's can really help reduce your 404 testing, plus make key people a valued stakeholder in the SOX process.

  

Use Implexus to perform very sophisticated and time-saving Control Self Assessments, whereby process owners and other stakeholders log directly into Implexus and provide their secure, individualized CSA responses (all while being appropriately limited by Implexus security). 

Implexus can even offer email management tools to remind the stragglers to complete their CSA's, and then Implexus will help you roll all those answers into something meaningful.

6.  If you are new to SOX, then get a big head start by using one of our pre-written controls packages along with Implexus

These packages work well in helping non-accelerated filers get going on identifying and documenting controls.

        

Even though every company is unique and has their own control environment, we have found that a vast majority of controls are very similar between companies of similar size. 

So rather than reinvent the wheel and start from scratch, purchase one of our documentation packages and get a huge head start.  Of course, you will have the flexibility to modify the controls to reflect your control environment - but at least you won't be starting with a blank slate!

This is a huge benefit and very, very popular with our non-accelerated filers.

"SOX Excelerator was a life-saver for our Company.  We didn’t have much time to implement SOX 404, and SOX Excelerator gave us the huge jump start that we needed.  It eliminated the need for excess brain-storming and inefficiencies that come along with starting a huge project like this.  The controls they have documented were very similar to the ones we had in place and also gave us ideas for new controls for our Company.”

- Finance Manager Hi-tech (California)

View our brochure on SOX Excelerator.

7.  Use Implexus for SOX and all other GRC requirements

Having one single tool for all of your GRC needs brings down your entity-wide TCO and simplifies your IT strategy.

    

Implexus is not just for SOX, but rather can scale for any GRC compliance process.  This importance cannot be overemphasized, because this allows you to have ONE INTEGRATED PLATFORM for documenting and testing all controls - whether it's for SOX, ISO, or Internal Audit.

Since you only need one tool, your total cost of ownership (TCO) for entity-wide software is greatly reduced.  This saves budget and also simplifies your IT strategy by consolidating your software needs into one trusted, well-used tool.