Movaris Inc.

• Position: TASK AUTOMATION

Movaris Inc., a software company that helps finance teams automate and unify their financial close, Sarbanes-Oxley compliance and financial reporting processes, has released a new version of Movaris OneClose. New capabilities include automatic generation of financial documents (10-Ks, 10-Qs, audit committee books and management reports); creation of a comprehensive system of record of all "last mile of finance" activities, documents and disclosures; and improved auditor/client collaboration.

Using OneClose, the San Jose, Calif.-based firm says, companies can efficiently unify the financial close, Sarbanes-Oxley compliance and financial reporting into a single, streamlined process. In turn, customers can realize more time for strategic analysis by automating routine workflows, reduced audit fees from auto-generated evidence binders and increased accuracy of financial reports.

A notable feature of the new release is a "one-button financial statement publisher" that automatically generates financial documents, reducing errors and delays. This represents the "last yard of the last mile" in finance, said Frank Mara, Movaris' vice president, marketing, in an interview.

[ILLUSTRATION OMITTED]

Mara also highlighted a new "footnote manager" that delivers a unified version of the close and associated disclosure readiness for the management discussion and analysis (MD & A), financial statements and footnotes. Footnote generation represents "a gaping hole," especially in an environment in which financial restatements have skyrocketed, he says.

"In light of increasing regulations like [Sarbanes-Oxley]...