Customers to Benefit From Business Process Management Approach to Operational
Risk and ComplianceNASHUA, N.H., and COSTA MESA, Calif., March 16 /PRNewswire-FirstCall/ --
Providus Software Solutions Inc., a leading provider of Operational Risk
Management (ORM) software, and FileNet Corporation (Nasdaq: FILE), the leading
provider of enterprise content and business process management solutions,
today announced a strategic partnership to provide an integrated ORM and
compliance solution designed to help companies meet pressing compliance
mandates such as Sarbanes-Oxley (SOX), as well as establish operational risk
management as a sustainable business practice to preserve brand reputation,
strengthen corporate governance and protect shareholder value.
(Logo: http://www.newscom.com/cgi-bin/prnh/20000207/FILENETLOGO)
Providus' alliance with FileNet combines FileNet's powerful Enterprise
Content Management (ECM) and Business Process Management (BPM) functionality
with Providus' flagship product, RiskResolve(TM), which provides a single,
unified environment for managing and consolidating operational risk, controls
and compliance objectives enterprise-wide. Together, these complementary
technology providers intend to leverage their extensive domain expertise and
incorporate best practices for prioritizing business management and IT
resources to support ORM and compliance objectives throughout the entire
organization.
Organizations can leverage and extend the value of their FileNet
implementations by integrating FileNet's ECM and BPM platform with Providus'
RiskResolve risk management framework for monitoring risks, controls and loss
events. As a result, users can access and retrieve FileNet-managed content,
documents, contracts and archived data files directly from their RiskResolve
desktop dashboard to verify, validate and measure the effectiveness of their
control environment.
By combining FileNet's integrated business process management, content
management, and records management capabilities with Providus' RiskResolve,
companies can take advantage of a comprehensive solution for managing
operational risk and compliance initiatives designed to provide:
* Direct correlation of content and records to the regulation,
processes, controls, and testing of risk events
* Alignment of compliance risk with related documents and content within
one framework
* Access through a universal view of records throughout lines of
business and technology silos
* Adequate and effective assessment, scoring and testing of controls
* Consistent regulatory documentation
* Continuous learning through formalized oversight
* An adaptive framework for future regulatory compliance
"The combination of our customer-proven ORM capabilities and FileNet's
market leading enterprise content, business process and records management
functionality can deliver significant benefits to our customers," said Andrew
T. Evans, president and CEO of Providus. "We're excited about the opportunity
to leverage the power of FileNet's business process and enterprise content
management solutions to streamline, automate and document numerous processes
and controls through RiskResolve, enabling customers to optimize the value of
their ORM systems and mitigate the risk of non-compliance."
"We believe greater access to content can make it easier to meet
compliance guidelines and enterprise-wide risk management goals," said Lee
Roberts, chairman and CEO of FileNet. "FileNet and Providus have a mutual
goal of providing go-to-market solutions to reduce risk within the enterprise
and promote compliance with a broad scope of industry regulations. This
partnership is a natural fit for us, and we are looking forward to offering
our customers access to the operational risk management and compliance
technology offered through RiskResolve."
Providus' RiskResolve software provides financial service institutions
with an enterprise-class solution for managing operational risk and meeting
compliance objectives in a disciplined, consistent manner. With RiskResolve,
firms are able to quickly move beyond compliance objectives, minimizing the
cost of conformance while maximizing business value. RiskResolve is the only
Operational Risk Management solution that uses a proven approach called Active
Risk Management(TM) that provides a single, comprehensive and open framework
for identifying and managing operational risks and controls within lines of
business and across the enterprise. Designed expressly for business managers
who need real-time insight into operational risk and controls to effectively
assess and measure risks against actual outcomes, RiskResolve enables managers
on all levels to better respond to risks and potential losses throughout the
entire institution.
About Providus Software Solutions, Inc.
Providus Software Solutions, Inc. develops enterprise software for
Operational Risk Management and compliance solutions focused on the financial
services industry. Providus' innovative software, RiskResolve(TM), embodies a
proven Active Risk Management(TM) approach and unparalleled expertise in
financial services -- quickly and reliably establishing a solid foundation for
financial institutions to meet their compliance objectives, improve visibility
of operational risk and reduce the impact of potential losses while maximizing
performance value. More than 3,000 users at depository banks, insurance and
diversified global financial services firms including National Bank of Canada,
Old National Bancorp, Union Bank of California, Western United Life Assurance,
Zions Bancorporation and several other institutions throughout North America
rely on Providus solutions. Headquartered in Nashua, NH, Providus is a wholly
owned, independently operated subsidiary of Zions Bancorporation
(Nasdaq: ZION), a $30 billion bank holding corporation headquartered in Salt
Lake City, UT. For more information, please visit www.providus.com.
About FileNet
FileNet Corporation helps organizations make better decisions faster by
managing the content and processes that drive their business. FileNet's
Enterprise Content Management solutions allow customers to build and sustain
competitive advantage by managing content throughout their organizations,
automating and streamlining their business processes, and providing a spectrum
of connectivity needed to simplify their critical and everyday
decision-making.
FileNet solutions are designed to deliver a broad set of capabilities that
integrate with existing information systems to provide cost-effective
solutions that solve real-world business problems.
Since the Company's founding in 1982, more than 4,000 organizations,
including more than three quarters of the Fortune 100, have taken advantage of
FileNet solutions for help in managing their mission-critical content and
processes.
Headquartered in Costa Mesa, Calif., the Company markets its innovative
ECM solutions in more than 90 countries through its own global sales,
professional services and support organizations, as well as via its
ValueNet(R) Partner network of resellers, system integrators and application
developers.
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: This release may contain forward-looking statements that involve
risks and uncertainties, including statements regarding the potential benefits
of using FileNet's products. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "may," "will" and similar expressions are
intended to identify forward-looking statements. Among the important factors
that could cause actual results to differ materially from those in the
forward-looking statements are FileNet's ability to develop, complete,
introduce, market, distribute and gain market acceptance for its products and
technologies in a timely manner; the emerging nature of the Enterprise Content
Management market; announcements of technological innovations, new products or
product enhancements by FileNet or its competitors; and other factors detailed
in the FileNet's filings with the Securities and Exchange Commission,
including its recent filings on Forms 10-K and 10-Q.
Note to Editors: RiskResolve, Active Risk Management and Active Control
Environment are trademarks of Providus Software Solutions, Inc. FileNet is a
registered trademark of FileNet Corporation. All other named brands are
trademarks of their respective owners. Patent Pending.
Contacts:
Annelise Armstrong Lynne Murray
Schwartz Communications Providus
781-684-0770 603-888-4300
providus@schwartz-pr.comlynne.murray@providus.com
Meir Kahtan Tom Hennessey
Meir Kahtan Public Relations, LLC FileNet Corporation
212-699-6065 714-327-5050
mkahtan@rcn.comthennessey@filenet.comSOURCE FileNet Corporation; Providus Software Solutions Inc.
-0- 03/16/2005
/CONTACT: Annelise Armstrong of Schwartz Communications, +1-781-684-0770,
providus@schwartz-pr.com, for Providus; or Lynne Murray of Providus,
+1-603-888-4300, lynne.murray@providus.com; or Meir Kahtan of Meir Kahtan
Public Relations, LLC, +1-212-699-6065, mkahtan@rcn.com, for FileNet
Corporation; or Tom Hennessey of FileNet Corporation, +1-714-327-5050,
thennessey@filenet.com/
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20000207/FILENETLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com/
/Web site: http://www.providus.com /
(FILE ZION)
CO: FileNet Corporation; Providus Software Solutions Inc.
ST: California, New Hampshire
IN: CPR STW NET
SU: CON JVN
AC-CC
-- LAW023 --
4760 03/16/200508:00 ESThttp://www.prnewswire.com