CMR Assists Clients in Becoming Sarbanes-Oxley Compliant
San Diego, California - February 10, 2003 - With the anxiety of Sarbanes-Oxley certification looming over the heads of public corporation CFOs, CMR offers an intelligible solution.
The Revolutionary Sarbanes-Oxley Act of 2002 (SarbOx)
The Sarbanes-Oxley Act was passed as a consequence of the scandals found in the untruthful quarterly and annual reports of certain public companies. Among other unethical business practices, investors and governmental officials were deliberately misled by the practice of recognizing sales from the manufacturer and distributors to the resellers as final sales that should not have been declared as revenue. Since the distributors would not pay for the product until they had acquired payment from their resellers, they were returning the unsold products to the manufacturers when the reporting period had passed, causing deceptive reporting by the manufacturers.
The Act has caused chaos within pubic companies by insisting that they become instantly SarbOx compliant. Threats of increased CFO imprisonment time have escalated from ten years to twenty-five years and up to five million dollars in personal fines. The new regulations demand that responsibility for their corporations’ financial reporting be taken with the utmost seriousness.
How Computer Market Research can assist in SarbOx Compliance!
With solutions like Channel POS™, CMR eliminates the problem of inaccurate reporting of recognized revenue within a three-tiered channel distribution system. The online application is a precise, efficient solution that creates detailed revenue reports from raw POS records at the distributor, reseller, product and end user levels. The constant worry of inaccurate documentation dissolves as our team translates raw data into real-time actionable data which provides the business intelligence, as required by the new rigid regulations.
With the objective documentation generated by our frequent reports, our clients, their investors and most importantly, their auditors have no opportunity to subjectively doubt the ethics of the business practice.
About Computer Market Research
Computer Market Research, Ltd. (CMR) is the industry’s leading solution provider of channel information management, consulting and software applications. For 19 years, CMR’s web-based, hosted or desktop software applications have accelerated and automated distributor and reseller data collection processing and analysis. Clients like Hitachi Data Systems™, palmOne™, Samsung™ and Symbol Technologies™, among others, who are dependent upon multi-channel strategies, rely on CMR to improve data gathering management as well as customer and partner relationship management.
CMR clients implement ChannelPOS™ to optimize channel efficiency, gain better insight, align partner networks, reduce time-to-volume, and speed up the sales cycle by translating raw data into business intelligence - all key factors in driving greater revenue, profit, market share, and end-customer satisfaction. Tie in CMR’s on-line PartnerAvenue™ PRM application, and clients have the integration needed for timely commission reporting, price protection calculations, accurate forecasting, inventory control, special pricing requests, optimal marketing programs and funds management.
