J-SOX | ProcessGene

Solution & Benefits

ProcessGene™ J-SOX Software – Introduction

The ProcessGene™ GRC software suite provides a complete solution for J-SOX compliance. The J-SOX software is implemented within days, immediately creating compliance visibility and centralized control.

The J-SOX software establishes an automated workflow that reduces the time and cost of compliance enforcement and eliminates manual labor, maintenance of multiple excel spreadsheets, etc. ProcessGene™’s J-SOX software is designed for multi-subsidiary organizations, based on our Multi-Org technology.

ProcessGene is acknowledged worldwide as a leading provider of Business Process Management (BPM) software solutions (see Gartner’s report on ProcessGene).

J-SOX Compliance in a Changing Business Environment

In today’s highly regulated environment, enterprises are increasingly strained by regulatory compliance concerns, while at the same time having to promote the ongoing conduct of business. Executive officers are specifically required to demonstrate capabilities for effective regulatory compliance, and to ensure corporate transparency and visibility into the business.

ProcessGene™ GRC software provides a complete solution for J-SOX compliance. The J-SOX software is implemented within days, and uses automation to reduce the time and cost of compliance enforcement.

Compliance Challenge

The Financial Instruments and Exchange Act regulation (also known as “J-SOX”, “Japanese Sarbanes-Oxley”, “Japanese SOX”, “JSOX”, “FIEA”, “Financial Products Dealings Act”) was introduced 2006 by the Internal Control Committee of the Business Accounting Council of the Japanese Financial Services Agency (FSA), and has been continually maintained and updated to reflect the dynamic changes in business environment. The Financial Instruments and Exchange Act regulation is aimed at protecting shareholders and the general public from accounting errors and fraudulent practices in the enterprise. J-SOX applies to all listed companies in Japan and their subsidiaries.

To guarantee the credibility of the disclosure system, the J-SOX law determines that assessment and verification of internal controls related to financial reporting are compulsory. J-SOX consists two main requirements:

It calls for the establishment of internal control rules to ensure proper disclosures and reporting on internal accounting procedures
It requires company management to verify that these rules are being complied with, and for auditing firms to conduct the relevant audits

Ensuring compliance with the J-SOX regulation is an important organizational task, which requires ongoing management of compliance data. The compliance process is continuous and needs to be repeated periodically and closely monitored. Managing officers are personally responsible to maintain the J-SOX compliance, and this responsibility requires significant management attention and allocation of time and effort. Beyond self assessments or assessments of compensated third parties (such as accounting auditors or regulation consultants), the organization may also confront other external audits, such as FSA, that show little if any tolerance to deficiencies. The ProcessGene credo in this matter is that objective compliance data, maintained by the organization itself, has much higher value than opinions of compensated third parties. We also believe that only an ongoing, continuous process can ensure actual compliance and audit clearance.

Compliance Challenge for Multi-Subsidiary Organizations

Multi-subsidiary organizations are confronting even more complex compliance challenges, due to differences between the business processes and operational characteristics of subsidiaries. Hence, the management and communication of J-SOX compliance in a multi-subsidiary environment becomes an extremely complex task when managed manually or by tools that are not specifically designed for Multi-Org operations.

J-SOX Compliance with the ProcessGene™ GRC Software Suite: Solution & Benefits

ProcessGene™ GRC software provides a complete solution for J-SOX compliance. Our Multi-Org software solution automates the J-SOX compliance lifecycle and offers the following benefits:

Very fast implementation, the J-SOX software is up and running within days
The J-SOX software is based on Multi-Org technology, designed for J-SOX compliance in multi-subsidiary organizations
The J-SOX software features full automation of the J-SOX compliance process using the ProcessGene™ BPM workflow engine, making it the most powerful system in the industry – yet the most intuitive and user friendly
The J-SOX software features central cockpit with dashboards for data analysis and diagnostics- showing quantitative J-SOX compliance fulfillment levels
The J-SOX software features easy and fast access to objective evidence used for external audits
The J-SOX software features direct connectivity to ERP systems (e.g. SAP / Oracle) and ability to extract and process data in real time, and run automated tests
The J-SOX software covers not only J-SOX compliance but also hundreds of other regulations and frameworks – all within the same framework
The most seasoned and comprehensive SaaS (Software as a Service) solution in the GRC domain (see Gartner’s report on ProcessGene)
The J-SOX software improves the quality of J-SOX internal audits and self-assessments

ProcessGene™ “Multi-Org” Technology

ProcessGene™ has been a pioneer and global leader in Multi-Org technology. During the past decade we have mastered a unique expertise in providing software solutions to multi-subsidiary organizations worldwide (see Gartner’s report on ProcessGene). Our J-SOX compliance software has been specifically designed for multi-subsidiary organizations and it features the most comprehensive solution for complex, distributed compliance challenges. Read more about ProcessGene Multi-Org technology.