Executive Summary (This is a document excerpt)

Public companies with revenues of more than $500 million and those with multiple divisions and lines of business should adopt a technology-based approach to Sarbanes-Oxley (SOX) compliance. Using software to automate compliance, particularly for the internal controls required by Section 404, is an opportunity to make the process more efficient, sustainable, and transparent. Forrester predicts that the majority of enterprises will adopt a technology-based approach to SOX by 2006. This emerging software market will grow rapidly in 2004 and 2005 before peaking in 2006. As the solutions mature, a clear choice is forming between purpose-built compliance applications, enterprise applications, and content management tool sets. Specialist vendors including OpenPages, Paisley Consulting, Nth Orbit, and Movaris are gaining traction among early adopters by being nimbler than large enterprise application vendors and enterprise content management. Beginning in 2004, however, the ERP vendors will retaliate with strong SOX offerings that leverage integration to their own financial transaction systems, enabling them to pursue leadership in this market.

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