Survey Finds Companies Turning to Identity Management to Enable Sarbanes-Oxley Compliance
Friday March 26, 8:01 am ET
Netegrity Survey Confirms That Companies Are Still Uncertain about the Requirements for Compliance
WALTHAM, Mass.--(BUSINESS WIRE)--March 26, 2004-- Netegrity, Inc. (Nasdaq: NETE - News), a leading provider of identity and access management solutions, today released the findings from a regulatory compliance survey. The survey revealed that senior IT executives and project managers are choosing security and identity management solutions to help facilitate compliance with regulations such as Sarbanes-Oxley.
As the deadline for Sarbanes-Oxley compliance looms, companies are grappling with exactly what requirements and efforts are needed to achieve compliance. According to the survey results, 37% of organizations responding don't know where they are in the regulatory compliance process, while 28% of the respondents said they are currently conducting an analysis to see whether compliance gaps exist in their organizations.
Approximately 75% of the survey respondents said that software will play a vital role in helping their organizations comply with regulations, with approximately 60% using identity management solutions. In addition to identity management solutions, 50% of respondents will use document and records management and 43% will use business process management solutions to help in compliance efforts.
Other survey findings include:
* 64% of respondents said that they have developed a cross functional risk management team to address regulatory compliance issues.
* The budget owners for regulatory compliance seem to vary by organization - in 39% of respondents IT controls the budget, while 37% of respondents said that another group owns the budget.
* In terms of budget, 37% of the respondent said they have a separate budget for compliance efforts while 39% of the respondents do not.
Netegrity conducted a survey of approximately 100 senior IT executives and project managers as part of the company's ongoing efforts to educate the market on the use of identity and access management in regulatory compliance.
"Identity and access management solutions can help organizations improve their level of control over critical IT systems by managing users and their access privileges," said Stephanie Feraday, Vice President of Marketing. "Identity and access management solutions can help enable regulatory compliance by providing organizations tighter control over who has access to sensitive information or critical parts of the IT infrastructure. Companies can also build a strong audit trail, making it easier to comply with data privacy and financial regulations."
On Tuesday, March 30th at 1 pm ET, Netegrity and Ernst & Young will host a Web seminar that will discuss the survey findings in more detail and will also discuss Sarbanes-Oxley and how effective IT processes and systems can help enable compliance. To register, go to the events section of www.netegrity.com.
About Netegrity
Netegrity, Inc. is a leading provider of security software solutions that securely manage identities and their access to enterprise information assets, letting business in while keeping risk out. Netegrity provides a comprehensive identity and access management product line for continuously evolving computing environments, including legacy, Web, and service-oriented architectures. Netegrity's flexible, standards-based offerings increase security, reduce administrative costs, and enable revenue enhancement. Supported by a network of over 1200 trained integration consultants and 200 technology partners, Netegrity solutions are licensed to more than 300 million users at over 800 organizations worldwide, including more than half of the Fortune 100. For more information, visit netegrity.com.
Netegrity, SiteMinder, IdentityMinder, and TransactionMinder are registered trademarks of Netegrity, Inc. All other product names, service marks, and trademarks mentioned herein are trademarks of their respective owners.
Various statements in this release concerning Netegrity's future expectations, plans, and prospects constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors such as, but not limited to, general economic conditions, weakness in the global economy, increased operating expenses, our ability to develop and enhance our products and services or remain competitive in product pricing, competition in the marketplace, including competitors' sales strategies, development and performance of our direct and indirect sales channels, delays in product development, changes in customer and market requirements and standards, market acceptance of new products and technologies, and technological changes in the computer industry, as well as those risks more fully discussed in the Company's reports on file with the Securities and Exchange Commission including the Company's latest Form 10-K/A, Form 10-Q and any subsequent filings. In addition, any forward-looking statements represent the Company's views only as of today and should not be relied upon as representing its views as of any subsequent date. While we may elect to update forward looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change and, therefore, you should not rely on any of these forward-looking statements as representing the Company's views as of any date subsequent to today.
Contact:
Netegrity, Inc.
Jennifer Menard, 781-530-6202
jmenard@netegrity.com
or
The Horn Group
Brenda Menard, 781-356-7133
bmenard@horngroup.com
Source: Netegrity, Inc.
biz.yahoo.com
Anyone know anything about Sarbanes-Oxley?
steve |
