Do You Have Active Software Escrow Agreements in Place for All Mission Critical Software?

Now is a good time to specify your active escrow requirements. Make these requirements a non-negotiable condition of all new software licenses or cloud software subscription. Inventory all existing business critical software licenses/subscriptions and ensure that active escrow is a part of these agreements. Over time, bring these existing agreements into compliance with your new escrow requirements.

Continue Reading »

Why Does the Adoption of Technologies for Compliance Activities Lag?

The adoption of technology by finance functions has been slow but has accelerated in the recent past. Enterprise performance management (EPM) tools like hostanalytics, financial controls automation like Blackline, and general ledger/ERP solutions like Net Suite are gaining acceptance. So why is it that approximately 80% of public companies continue to use Microsoft Office (Word & Excel) for their financial compliance (e.g., COSO, SOX, MAR) programs?

Continue Reading »