It’s time to start looking at Sarbanes-Oxley in a more positive light.
By Maria Bruno-Britz
<!– remove http:// substring (if present) from the url –>Bank Systems & Technology
Now that the critical period to achieve Sarbanes-Oxley compliance is just an unpleasant memory, it is time for banks to rethink their strategic approaches to SOX requirements. Since the regulation was introduced, experts have espoused that the massive efforts to bring companies’ IT systems into alignment with the regulation should be seen as an opportunity. According to Paul Hamerman, VP of enterprise applications for Forrester Research (Cambridge, Mass.), for those companies savvy enough to recognize the act’s hidden benefits, now is the time to take their SOX strategies to the next level.”The first time around with SOX, there was an imposed deadline and everyone scrambled to meet minimum compliance requirements,” Hamerman explains. “Now, it’s time to look at the underlying systems and processes, and see how they can gain efficiencies from them.”