Waltham, Mass. - September 14, 2004 - OpenPages, a leading provider of enterprise governance, risk and compliance management solutions, today announced that Constellation Brands, Inc. (NYSE: STZ and STZ.B) has selected OpenPages Sarbanes-Oxley Express (SOX Express) for its Section 302 and 404 compliance initiatives.
Headquartered in Fairport, New York, Constellation Brands is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, imported beer and spirits categories. The company is the largest wine company in the world; the largest multi-category supplier of beverage alcohol in the United States; a leading producer and exporter of wine from Australia and New Zealand; and a major producer and independent drinks wholesaler in the United Kingdom. With over 200 beverage alcohol brands, Constellation Brands has an unmatched breadth, offering consumers their beverage of choice, no matter what the occasion. The company operates over 43 production facilities, has close to 7,500 employees and sells its products in more than 60 countries in North America, South America, Europe and Asia, as well as in Australia and New Zealand.
Constellation Brands will deploy SOX Express to streamline its internal control documentation and testing processes across all of its locations. It will enable the collection of information regarding ongoing business controls deployment and monitoring, resulting in a reduction of compliance costs. By combining a strong document repository with powerful compliance automation capabilities, SOX Express will facilitate both project management and compliance, using web-based tools to get users up to speed quickly.
“Constellation Brands views Sarbanes-Oxley as a portion of a broader governance, risk and compliance strategy. OpenPages has outlined a comprehensive vision for corporate transparency and has an impressive track record with its clients to date,” said Laurie Elliott, senior vice president and chief audit executive at Constellation Brands. “We look forward to our partnership with OpenPages as we fulfill our compliance requirements while achieving our goal of continuous business improvement.”
OpenPages’ SOX Express is an enterprise compliance management solution that reduces the time and resource costs associated with ongoing compliance for Sections 302 and 404. SOX Express is a focused enterprise application that combines powerful document and business process management with flexible reporting capabilities in an extremely easy-to-use environment that enables CEOs, CFOs and financial management officers to enforce internal controls. SOX Express helps corporations automate significant aspects of their internal controls framework to significantly reduce the overall cost of compliance. Its dashboards can be used by project managers, documentation team members, internal auditors and external auditors to plan, document and test the internal controls of the company, and eventually to attest to the financial statements.
OpenPages is the leading provider of integrated risk management solutions for global companies. The OpenPages Governance, Risk and Compliance (GRC) Platform empowers a risk-based approach to identify and manage key business risks across the enterprise. This approach enables companies to focus on what’s important and to avoid unexpected outcomes while improving performance. Founded in 1996, the company is headquartered in Waltham, Massachusetts, with international offices in the United Kingdom, distribution partners in Japan and South Africa and regional offices throughout North America.
For more information on OpenPages' governance, risk and compliance solutions, please click here or call us at 781.693.5999.
