2020 fits perfectly into any SOX 404 compliance program and our customers range from pre-IPO start-ups to mature multi-nationals. See what some of are satisfied customers are saying...
CIRCOR International, Inc. is a global manufacturing organization with multiple segments and more than a dozen financially significant operating units world-wide supported, in part, by common IT platforms and shared service functions.
Historically, CIRCOR’s SOX-404 program was managed through multiple spreadsheets, word documents and other files that were spread across our internal and external teams. The manual nature of our approach made it difficult to monitor status, react timely to issues or consistently report. We recognized that we needed a software solution.
Our requirements for evaluating SOX-404 software applications specified that the solution be web-based & intuitive for our users, provide real-time dashboard status for all levels of management and to have the flexibility to quickly adapt to CIRCOR’s processes and structure. Additionally it was important for the application to seamlessly integrate the work performed by multiple 3rd party service providers in the execution of our SOX plan.
For the implementation we sought a partner with the proficiency to transform CIRCOR’s program to best practice in tandem with the application launch. In 2020 Control we found both the technical solution and SOX expertise we were seeking!
Vice President, Information Technology
CIRCOR International, Inc.
As a privately held clinical-stage biopharmaceutical company, Selecta Biosciences sought a program and technology solution to evaluate and enhance its financial processes and formally document its internal controls in advance of an initial public offering. Following an extensive review of available alternatives we selected 2020 Control based on its web accessibility, alignment with SOX-404 & PCAOB requirements, system flexibility and process flow, implementation simplicity and support to configure Selecta’s risks and controls.
At the outset we utilized 2020’s base functionality to drive our identification and recording of financial reporting risks and related controls. Since our IPO in mid-2016, 2020 is helping us fast-track our transformation to an audit-ready SOX-404 organization! Standard work-flow and real-time dashboards allow us to readily view the status of all critical tasks and isolate bottlenecks or delays in our program.
We would strongly recommend 2020 Control to any company looking to initiate, or migrate to, a fully functional SOX-404 solution!
CFO, Selecta Biosciences
MACOM’s SOX readiness timeline was dramatically compressed and we needed a solution to accelerate our entire 404 process. We evaluated several GRC products and 2020 Control stood out for its ease of implementation, level of user engagement and depth of relevant content.
2020’s intuitive flow allowed MACOM to launch the application immediately with minimal training required. The Solution’s “out-of-the-box” risk library and logical association of risks to controls enabled us to instantly identify both key controls and potential gaps which fast-tracked our remediation efforts!
Given our tight window for execution, efficiency was imperative and 2020 elevated user interactions through custom task assignments and alerts while real-time dashboard monitoring provided perpetual, transparent project status throughout the organization.
From a content perspective, 2020 fully incorporates both the COSO 2013 principles and the PCAOB’s hot-buttons around control documentation. The depth of data in 2020 synched well with the external audit view of controls, driving further efficiencies in the process.
2020 Control was an integral part of MACOM’s Year-1 compliance program and will continue to promote efficiency and improvement for years to come.
Vice President, Corporate Controller