Microsoft Corp. and BearingPoint Inc. announced the BearingPoint Enterprise Governance, Risk and Compliance solution.

With Microsoft, BearingPoint has created a risk-based compliance solution based on Microsoft technology that builds on the companies’ long-standing alliance and helps organizations identify areas of risk, assess and remediate control deficiencies, and strengthen compliance without compromising profitability.

Built on Microsoft Office SharePoint Server 2007, this technology solution includes the necessary software and management tools to help organizations effectively manage risk and compliance through the use of alerts and analytics. For example, an organization can set alerts so that if key risk indicators or compliance metrics are exceeded, email notifications are triggered and workflow steps are initiated, forcing employee actions to address the activity. These reactions are documented and audit trails maintained to assist companies in validating that appropriate and timely actions are taking place.

The collaboration combines Microsoft’s “people-ready” software that strengthens the capabilities and connections of users with BearingPoint’s leadership in business strategy, management consulting and systems integration.

The new risk-based compliance solution will address the unique needs of clients across all industries as they work to keep pace with today’s increasingly complex regulations. Initially, the companies will aggressively market to pharmaceutical, energy and financial services companies as well as government agencies.

Pharmaceutical organizations that store information in a wide range of isolated systems will be better able to retrieve and synthesize data and collaborate to support regulatory compliance.

Energy companies, including power and utilities, which need to comply with unprecedented levels of regulatory stridency in an increasingly fast-moving business environment, will be able to take a more proactive approach in addressing issues such as market operations, code of conduct, security, reliability, and environmental health and safety.

Clients within the financial services industry, which have been under pressure to meet increasingly rigid compliance requirements ranging from stronger anti-money laundering regulations worldwide to Sarbanes-Oxley, J-SOX and the Markets in Financial Instruments Directive, will benefit from the solution’s fully integrated collaboration, workflow and document management tools.

Satinder /ITvor network