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Productivity improvements feature in latest GRC release

MEGA International : 03 February, 2009  (New Product)
Governance, Risk and Compliance software from MEGA upgraded to support changes in legislation and improved productivity
MEGA has introduced the MEGA GRC Suite Version 3.1. The capabilities of the platform and the Suite modules - GRC Audit, GRC Compliance and Control, and GRC Risk - have been augmented and enhanced to provide an even more complete and flexible solution that addresses critical issues facing large corporations in today's troubling economy.

MEGA was named by Forrester Research as a leader in 'The Forrester Wave: Business Process Analysis, Enterprise Architecture (EA) Tools, and IT Planning, Q1 2009'. In addition, the MEGA GRC Suite was named as the best solution for integrated Risk Management and control by Yphise in its January 2009 'Integrated Risk Management and Control' report that contains a detailed analysis, comparison, and assessment of Risk Management and control software products.

This new version of the MEGA GRC Suite offers:

* Ways to improve audit quality and enhance business decision capability.
* Advanced risk features to manage both global and local risks.
* Compliance and control additions to meet new reporting requirements.
* A host of new platform tools for increased productivity.

The new MEGA GRC Audit module has been designed to solve several pressing issues for internal auditors. The software guarantees the audit trail and quality through increased capacity for reporting and follow-up thanks to a secure Web-based collaborative environment involving all necessary stakeholders. This enables internal auditors to ensure that their earlier recommendations have been implemented. In most companies, audit functions have expanded beyond financial and compliance issues to include assessment and control of business and governance risks; the new module gives auditors the tools to manage this larger role and improve the effectiveness of risk management, control, and governance processes. The MEGA software also increases audit productivity by standardising best practices and optimising available resources to accommodate the mounting workloads facing auditors.

"Using numerous office tools, such as spreadsheets and email, we faced the difficulty of managing an increasing volume of information exchanges and data. MEGA GRC Audit provides the ability to address this challenge, by facilitating the storage of information and the audit trail. In addition it ensures a common practice thanks to the use of a single tool for audit management," said Jean Marc Ferjoux, GRC project manager at Renault Group.

MEGA GRC Compliance and Control has extended self-assessment features for evaluation management, provides ergonomic improvements such as direct access to the "to do list", and simpler questionnaires ensuring that periodic compliance and control surveys are easily completed. It also includes an improved means to manage and correct deficiencies by grouping the action plans.

The new MEGA GRC Risk module has improved reporting capability, including Basel II reports and the option to manage both global and local risks through a consolidated risk evaluation overview.

The MEGA GRC Suite and the MEGA Modeling Suite for enterprise architecture and business process analysis are supplemented by nearly 20 years of process expertise from MEGA's international team of consultants who support internal auditors, compliance officers, and risk managers.

The GRC Suite became available to customers on January 15, 2009.

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