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NetSuite The Sarbanes-Oxley Compliance Engine

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“The elephant in the room is that Sarbanes-Oxley doesn’t directly specify the key role of technology and its

support of corporate compliance. The reality is that all roads to compliance are driven on technology’s

management of business processes and data. The greatest challenge is unifying companies' technology

patchworks and fragmented data, as well as securing internal processes and ensuring integrity of operations

and accurate, auditable reporting.”

NetSuite —The Sarbanes-Oxley Compliance Engine

While the primary responsibility for Sarbanes-Oxley compliance rests with a company to define and document their internal processes, the internal business applications play a crucial role in ensuring that such processes are implemented and auditable. NetSuite provides a business foundation of centralized, consolidated data management; robust and auditable financials; and seamless integrated business processes, enabling efficient operations and reliable financial reporting-serving as the compliance engine supporting internal controls and reports to fulfill

Sarbanes-Oxley requirements.

Data fragmentation is the number one hurdle.

Industry and compliance experts agree that multiple ERP, CRM, and ecommerce systems are the single greatest IT hurdle to Sarbanes-Oxley compliance. NetSuite, with its ‘one system’, real-time architecture and unified business processes, provides the perfect platform to both support and audit internal processes.

Your defined business processes are integrated in a single system.

With a single, integrated application for CRM, ERP, and ecommerce, NetSuite automates key business processes across your entire business, including: finance, sales, marketing, service, order fulfillment,

procurement and employee management. NetSuite ensures data integrity because employees no longer have to re-enter data in different systems, rectify inconsistent or inaccurate data, or wait for batch updates. Instead, all your data is consolidated in real-time, ensuring greater process control with reporting visibility and accuracy.

Real-time, ad hoc and historical audit history increase visibility

System sensing and alerts provide instant notification of out-of-compli-ance positions, enabling proactive management of at-risk issues. In addition, standard operating and ad hoc financial reports provide clarity and visibility for regulatory reporting.

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Many audit firms recommend a five-step approach to Sarbanes-Oxley compliance. The following is a sample

approach to achieving and sustaining compliance:

Scoping & Planning. During this initial phase, your company defines the scope of change required by studying the integrity of processes

and reporting, and determining the change required to become compliant. Companies must also determine how to ensure ongoing com-pliance. Executive sponsorship and strong leadership must then be put in place to drive sustainable change.

Visioning & Targeting. Once the scope of the project is determined, the detailed project plan is defined and the project team put in

place. Enabling technology is sourced and selected.

Design. With requirements defined and the team in place, the team creates the unbounded design for compliance. Next, the project is

bound-ed with process, technology, organizational and cultural change constraints considerbound-ed. It is important to note that successful projects are more dependent on change management in the organization than the simpler design of processes and reporting.

Find out more: contact NetSuite, Inc. at 1-877 NETSUITE or visit www.netsuite.com

Updated 11/10/04 NetSuite Data Sheet | 2

Scoping & Planning Your Company NetSuite

As-is assessment of internal controls

Benchmark leading practices Perform gap analysis

Scope initiative (people, processes, reports, tech.)

Visioning & Targeting Your Company NetSuite

Create compliance roadmap

Create plan for consolidating business systems/ data sources

Design Your Company NetSuite

Design corporate business process flows

Design reporting scope & structure

Map process flows to NetSuite

Map reporting requirements to NetSuite

Determine customization requirements & design

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Implementation. Design and customization are implemented across process, technology, organizational and cultural lines. Testing across

these lines is critical for practical success. Critical planning of the compliance “go-live” includes assignment of personal, named accounta-bility from the department level up through executive management.

Report, Audit, Certify. Once the system and practices are live, the cycle of real-time, ad hoc and strategic reporting with audits begins.

Here, it’s critical to ensure quality assurance of compliance to processes, policies and procedures. Best practices show that this is managed via both internal and third party resources.

Implementation Your Company NetSuite

Implement & customize NetSuite application

Migrate data, processes and policies to NetSuite

Migrate reporting and periods to NetSuite

Assign security & accountability by role & name

Post policies, procedures to NetSuite SOX File Cabinet

Publish policies & procedures to company, partners

Scoping & Planning Your Company NetSuite

As-is assessment of internal controls

Benchmark leading practices Perform gap analysis

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Using NetSuite to Support Sarbanes-Oxley Compliance

Aside from the one-system architecture, NetSuite has a host of features to help you both implement and audit your internal controls and processes for Sarbanes-Oxley compliance.

NetSuite offers powerful user activity auditing and controls to help businesses determine who has access to their core business data and what changes are being made and by whom.

Find out more: contact NetSuite, Inc. at 1-877 NETSUITE or visit www.netsuite.com

Updated 11/10/04 NetSuite Data Sheet | 4

Real-time, role- based dashboards

Key Performance Indicators (KPIs)

Online and e-mail-based reminders and notifications| Report snapshots and custom lists

Robust financial reporting

Income Statement, Balance Sheet and Cash flow Detailed transaction reports, individual journal entries Custom Reports

ODBC Business Intelligence reports

Billing Schedules

Billing Schedules associated with Sales Orders Automate creation of invoices at pre-defined intervals Customer specific billing cycles

Revenue and associated costs booked at the appropriate time

Revenue Recognition

GAAP compliant for revenue related to future periods Associate revenue recognition templates with their item records Automate the creation of revenue recognition schedules

Journals Entries

Entries are automatically created in the appropriate periods Ensure consistent booking of revenue with associated costs Avoid manual/data entry errors

Ensure accurate financial statements.

File Cabinet Organize company intranet; post, publish content, policies & procedures

Audit trail

Always-on

Transaction audit trail tracks changes to financial records Identifies

Who entered or edited the transaction When the entry was made

What the latest value of the entry is

System Generated Notes

Audit-trail of non-transactional records

Sorts identifying changes that were made at the individual level Highlights

Who made the change, when made, before/after values of fields

Role-based Access

All NetSuite users assigned roles

Enables control over what records and to which types of changes users have access Restricts users to accessing information only for their respective departments Sales users have access to records assigned to them or their team

Roles can have specific forms associated with them, enabling users to see only the information they need and thereby protecting more sensitive data

Access Restriction by IP Address

NetSuite allows you to limit certain types of access to business data from specific locations Enables you to control changes that are made

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Summary

In spite of what some software companies might tell you, implementing a business management application alone will not cause you to become instantly Sarbanes-Oxley compliant. However, choosing an application like NetSuite will provide you with the tools you need to ensure and audit your compliance status. NetSuite provides a platform for growth for many years to come.

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