Case Study: Knock Their SOX Off (SOX Compliance)
The Problem
The Finance Director at a national real estate development company was tasked by the CEO with evaluating options for upgrading the company’s Sarbanes-Oxley compliance software. The company’s accounting firm recommended one package, while a board member pushed strongly for a different system used by her company. Meanwhile, three other vendors with similar offerings had offered demonstrations of their capabilities within the past few months, and the Chief Information Officer was advocating building a custom solution with in-house resources. With so many options available and very little knowledge of how they compared with one another, the Finance Director was overwhelmed.
Critical Issues
Tyranny of Choice High Visibility Competing Interests
The Solution
Maven launched a Telephone Consultation inquiry seeking insights from individuals who had direct experience evaluating and implementing SOX compliance software. Over the new few days the customer received responses from several individuals, including the former Chief Product Officer of one of the major vendors. The customer spoke with the CPO, who provided relevant insights regarding the competitive landscape and range of capabilities among the various vendors. In addition, the customer spoke with three other Mavens who had recently performed similar build vs. buy analyses. Based on these conversations, the Finance Director narrowed the candidates to two firms and initiated pilots with each in order to further evaluate their capabilities for her specific situation.
“There were so many options and competing interests, I just didn’t know where to begin. Maven helped me to cut through the noise and put together a compelling proposal for how to move forward.” — Director of Finance
