Press Release
Spansion Selects Movaris for Sarbanes-Oxley Compliance
SAN JOSE, Calif. — 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.
About Spansion
Spansion is a leading Flash memory solutions provider, dedicated to enabling, storing and protecting digital content in the wireless, automotive, networking and consumer electronics markets. Spansion, previously a joint venture of AMD and Fujitsu, is the largest company in the world dedicated exclusively to developing, designing, and manufacturing Flash memory products and systems. For more information, visit www.spansion.com.
About Movaris
Movaris helps finance organizations transform their 'last mile' - the series of activities performed during the financial close and reporting process - into repeatable, auditable and efficient processes. Movaris OneClose is the industry's only enterprise application that unifies financial controls and close tasks with the creation of a company's financial statements, creating a system of record for both financial close and financial compliance. Movaris OneClose customers realize: dramatic time savings within their internal finance organization by automating routine workflows, reduced audit fees from automatically creating a system of record for close and compliance reporting, and increased accuracy of financial and compliance reports by standardizing workflows and key business processes throughout a company's global finance organization. Movaris is headquartered in San Jose, California, with offices in Atlanta, Boston, Chicago, Los Angeles and New York. For more information, please visit www.movaris.com or call 888-800-7545.
Spansion, the Spansion logo and combinations thereof, are trademarks of Spansion LLC.
To learn how Movaris OneClose can help your company achieve its compliance and financial close goals, please contact us at sales@movaris.com or 888-800-7545.