SOX Compliance in NetSuite:
Automate and get compliant in under a month
Three Steps to NetSuite Compliance
SOX compliance requirements are only going up — and cloud-based enterprise systems like NetSuite pose a special set of challenges.
Strongpoint helps you meet some of the more unique audit requirements around ERP systems, giving you complete visibility into your scripts, workflows, user roles and permissions, dependencies, managed bundles, platform changes and NetSuite releases.
Read on for details, or use the form to download our eBook, Three Steps to NetSuite Compliance.
Strongpoint and SOX
Strongpoint automates the most time-consuming, error-prone parts of audit prep.
If you don't have accurate documentation of your system, your path to passing a SOX audit is much more difficult. Auditors will want to see that you're aware of if and how changes to your system will affect revenue recognition. And the more complex your account is, the harder it is to be confident about this.
Strongpoint starts by scanning your NetSuite environment and creating a comprehensive record of all your customizations, dependencies and critical settings and preferences. It automatically keeps this information up-to-date, and gives you several out-of-the-box tools for working with it.
You can't get SOX compliant without an efficient change process. And you can't get efficient change processes unless you have effective impact analysis. When you know the effect of a change ahead of time, you can build smart policies to review what's risky and pre-approve what's safe.
That's exactly what Strongpoint does. We give you access to accurate impact analysis before you make a change, so you no longer have to rely on guesswork to know what requires investigation.
Going through these system notes to identify changes that are relevant to auditors, and tying those changes back to approvals that took place outside the system, is incredibly time-consuming. In fact, it's one of the biggest pain points for NetSuite teams in the lead up to an audit.
We designed Strongpoint to solve this problem. Our change management tools are built on smart, risk-based policies and automation. Inside NetSuite or integrated with your ticketing system, we help you create airtight processes and controls that make passing an audit easy and stress-free.
Reporting and Reconciliation
Strongpoint automatically tracks the changes and updates that are the most difficult to capture manually. It continuously audits every change, pre-clearing those that are safe, and automatically alerting Admins and managers when a high-risk change occurs without the proper approval.
This functionality can be easily integrated into Jira and ServiceNow using pre-configured plugins, so that your teams can continue using those platforms while taking advantage of Strongpoint’s industry-leading impact analysis and change policies.
Segregation of Duties
NetSuite contains 636 distinct permissions, which govern 4923 separate tasks, searches and records. Because of this complexity, managing segregation of duties effectively takes time and resources most admins and finance teams don't have. And even if things are clean and streamlined at all times, automation can introduce 'phantom conflicts' that auditors will read as control deficiencies.
Strongpoint contains out-of-the-box rules and tools that make it easy clean up streamline access to your NetSuite account and identify phantom conflicts that read as violations to auditors.
Master Data and Financial Controls
Not all transactional behavior can be managed through roles and permissions alone. To manage these risks, you need a solid system of detective controls.
With Strongpoint’s master data and financial controls, you can move from static monitoring to active response — and create an auditable trail that will make compliance easier. Strongpoint converts saved searches into powerful detective controls that route violations to the proper authority for review and clearance, and collects it all in a separate, auditable GRC system.
See Strongpoint in Action — Book a Demo
Get in touch to book a free needs assessment with one of our SOX compliance experts. We'll provide a comprehensive review of your system, your processes and your setup — and let you know if Strongpoint can help make the compliance process fast and simple.