Companies are taking a number of steps to make sure their reporting infrastructures are up to snuff.
• They’re investing in storage resources, data warehouses and content management software to handle more stringent document security and retention policies.
• They’re buying systems management tools and business intelligence software to catch non-conforming system events and anomalous business trends.
• And they’re deploying financial software to streamline manual-based reconciliation and reporting procedures, and security tools to protect the integrity of systems and data.
All those investments translate into big expenses. Spending on SOX compliance will reach $6.1 billion in 2005, according to AMR Research. Of the money spent, $1.71 billion, or 28%, will go toward technology, the research firm says.
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