Strongpoint- A NetSuite Managed Sox Compliance Bundle

Oracle NetSuite supports SOX compliances mandatory for businesses to continue their viability under legal statutes.

However, the native system configurations are only some help to small to medium type environments where we can maintain a strong conduct of internal control while keeping an watching eye on the transactions taking place in and out of the system.

With large entities, comes the requirements for having a proper checklist to counter these internal frauds well in place and time.

That’s where we have NetSuite’s Strongpoint in picture!

What is Strongpoint?

Strongpoint is a NetSuite managed bundle built entirely on the NetSuite platform that automates some of the most manual and difficult aspects of SOX compliance and change management.

Any change made in the system has to be approved by an approval panel chain post which the change is recorded in the system.

The approvals we get during this process have to be justified by the approver further pressing for authenticity and actual requirement of this change on the management.

How does Strongpoint work in NetSuite?

1.  Accurate Automated Documentation

Strongpoint scans the entire ERP to read your customizations, settings and preferences made. It simultaneously records all the updates made to the system and we will always have a log of how things changed and were changed. All this happens in background automatically!

This indeed overcomes the drawback of System Notes which is record specific and is washed away on refreshes.

2. Change Management

There is a change management request form that has all the details capturing the change request, scope of change, impacted customizations and much more.

The impact of change is displayed on the Impact Analysis Tab before approver agrees to make these changes. Once approval is made, there is a page called What Changed allowing users to track and report the past changes creating a valid audit trail of transactions.

3. Optimization

Strong has a series of automation tools like automated saved search clean-up, unused customization clean-up, inactive user clean-ups, unused script clean-up and much more which optimize the NetSuite environment in-turn making the log trail easier for SOX purposes.

But, how does this help in SOX Compliance?

With, with having Strongpoint in place, leads to automation of several key aspects of SOX compliance requirements other than the inbuilt native NetSuite internal controls enabling;

• Document customizations and dependencies
• Log and track changes in the system
• Perform impact analysis and risk assessment for the change approval
• Track change requests approvals and associated changes
• Report, review and resolve non-compliant changes
• Report segregation of duties and access controls

Thus, 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.

Learn more about how Strongpoint is apart of NetSuite in SuiteApps blog