Tools to Master the Sarbanes-Oxley Challenge

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Originally uploaded by governancefocus.

The demands of Sarbanes-Oxley compliance may prove to be the medicine enterprises need to improve their processes and controls, but at the moment, most organizations feel only pain as they have had to scramble to meet implementation requirements. And that pain has been more than simply some unpleasant days at the office—it’s had bottom-line impact as well.

Research firms say Sarbox is helping to push compliance costs through the end of this year to a total of nearly $15.5 billion in the U.S. Significantly, IDC estimates the market for financial compliance applications, including those used for Sarbox, will grow to more than $2 billion in 2009, up from $1.1 billion in 2005 and at a 17-percent compound annual growth rate.

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