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Spansion Selects Movaris for Sarbanes-Oxley Compliance

Spansion Selects Movaris for Sarbanes-Oxley Compliance

by Rick Turoczy on July 5, 2006

Movaris, a software company that helps finance teams automate and unify their financial close, SOX compliance and financial reporting processes, today announced that Spansion (NASDAQ:SPSN), the world’s largest pure-play provider of Flash memory solutions, has purchased the Movaris Sarbanes-Oxley solution to assist in the automation of its compliance processes for its worldwide operations.

Spansion is using Movaris Sarbanes-Oxley Compliance, part of the Movaris OneClose solution, to evaluate and test internal controls throughout its finance operations. Movaris provides efficiencies with configurable workflows, advanced productivity capabilities, control performance analytics, and integration with third party applications.

“The Movaris Sarbanes-Oxley solution is helping Spansion manage complex compliance processes and better understand the internal controls we need to track,” said Michael Haanen, SOX project manager at Spansion. “With the additional automation assistance, we expect to free up resources for more analysis and planning to improve the overall efficiency of Spansion’s compliance process.”

With Movaris OneClose, companies can efficiently unify the financial close, SOX compliance, and financial reporting into a single, streamlined process. By taking this approach, Movaris customers realize more time for strategic analysis by automating routine workflows, reduced audit fees from auto-generated evidence binders, and increased accuracy of financial reports by unifying and standardizing key business processes throughout the global finance organization.

Spansion Selects Movaris for Sarbanes-Oxley Compliance

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