RippleTech Rights The Ship For Sarbanes-Oxley Compliance
How do businesses begin the process of compliance with Sarbanes-Oxley? One of the simplest ways is to use LogCaster, a software package from Ripple Technologies. RippleTech's LogCaster for Sarbanes-Oxley, referred to by RippleTech as "SOX in a box," ensures Sarbanes-Oxley compliance and documents its proof. Solution providers can use the software on their own to generate the appropriate reports to prove that existing clients are Sarbanes-Oxley-compliant, or they can partner with RippleTech to provide services that can ensure and manage compliance.
Brian McDonnell, president and CEO of RippleTech, is confident that 2005 will be a profitable year for solution providers that offer companies Sarbanes-Oxley compliance services. "Largely as a result of the Enron scandal, companies now have to prove compliance. The CEO's neck is on the line, so everyone has set aside a big budget for security."
LogCaster should be an easy sell for solution providers since all publicly traded companies are required by law to comply. The software provides ample opportunity for solution providers to offer professional services based around LogCaster, including upgrades, scheduled maintenance and managed services.
Specifically, Sarbanes-Oxley requires that public companies be able to verify that their financial reporting systems have the proper controls and that revenue is properly recognized and recorded. The law addresses the handling of all financial data, including the processing of electronic data. Using an intuitive interface, LogCaster provides quick and easy access to data required by security auditors, executives and government regulators. The software also helps improve IT security operations by aggregating network data from multiple operating systems and users. LogCaster provides a security audit trail of user activity, account management operations and audit policy changes so that management can determine which employees performed certain tasks and the time and date specific actions were undertaken. The software can even identify employee errors that expose a business to unnecessary risk.
CRN Test Center engineers found that the software was simple to install, set up and use. In less than an hour, solution providers using LogCaster can provide a company with a risk assessment based on an analysis of the key internal controls required by Sarbanes-Oxley. LogCaster provides key financial and usage reports that government regulators and auditors rely on to prove a business's compliance. The software tracks user privileges and logons and monitors file access. It also logs security events and generates reports companies can use to prove that effective internal controls are in place. LogCaster for Sarbanes-Oxley costs $550 per server regardless of the number of users, and volume discounts are available.
RippleTech offers a single-level channel program for partners, and authorized partners receive an average reseller margin of 30 percent. The company provides direct technical support to end users as well as partners, but many partners earn significant revenue from the integration, monitoring and management services they provide based on the LogCaster solution. In addition, partners receive pre- and post-sales support, and joint sales calls are attended by a solution provider, a RippleTech representative and a team of technical support engineers.
RippleTech also offers educational programs to brief partners on the latest usage trends and sales opportunities. Partners are each assigned a specific RippleTech representative to assist in closing deals. MDFs, marketing and sales collateral are also available on RippleTech's partner Web site. Training is provided over the Web and in person.
