CGI Federal, a wholly-owned U.S. operating subsidiary of CGI Group Inc. (TSX: GIB.A; NYSE: GIB), today announced that the company has entered into a marketing agreement with Approva Corporation, the leader in continuous controls monitoring and audit automation software. Under the agreement, CGI is now able to offer an integrated solution that caters specifically to the compliance needs of federal agencies. The combined offering, which includes Approva’s BizRights® Platform and CGI’s Authorizations Insight for Momentum®, will enable agencies to develop and monitor internal controls to prevent financial misstatements and satisfy their compliance mandates.
The joint solution is specifically designed to address the Office of Management and Budget’s (OMB) Circular A-123 revisions, which requires agencies to take a comprehensive approach to internal controls management and increased the requirements for assessing and assuring the reliability of financial reporting. “The integration of Momentum and Approva BizRights allows federal agencies to take an end-to-end approach to controls monitoring," said Donna Ryan, Senior Vice President, CGI. “CGI’s Momentum financial management software is used by over 100 agencies as their core financial reporting application. The joint solution will allow federal agencies to monitor controls in Momentum as well as other agency applications."
“Federal compliance regulations have become extremely rigorous with the A-123 revisions and require the right investment in technology to best address our customers compliance needs," said Ryan. “Based on the results we have already seen from the CGI-Approva integrated solution at one of our major Momentum customers, we are confident that the integrated approach will significantly help agencies optimize Separation of Duties (SoD) monitoring and greatly reduce the time and costs engaged in the annual audit process."
“We are extremely pleased to partner with CGI," said Greg Myers, Approva’s Senior Vice President of global sales. “The integration of Momentum with Approva BizRights will allow federal agencies to take a more preventative approach to segregation of duties (SoD) analysis, user and role provisioning and transaction monitoring. With the CGI-Approva integrated solution, federal agencies can now benefit from on-demand testing instead of waiting for the results from their next audit cycle."
About CGI Federal
CGI Federal (www.cgi.com/usfederal) is a wholly-owned U.S. operating subsidiary of CGI Group Inc., dedicated to providing effective IT solutions for federal government agencies by combining over 30 years of government experience and technology skills. Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 26,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.7 billion and at September 30th, 2007, CGI's order backlog was $12.0 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
About Approva
Approva® Corporation is the industry-leading provider of governance, risk and compliance (GRC) software and is the controls monitoring standard for half of the Big-4 audit firms. We enable business, finance, IT and audit professionals to automate controls across SAP, Oracle, JD Edwards, PeopleSoft and other legacy ERP applications. Global companies such as Bayer, DirecTV, Discovery Communications, First Advantage, Honeywell, P&G, Pratt & Whitney, Siemens and T-Mobile rely on Approva to reduce compliance risk, increase operational efficiency and flag exceptions to their business controls. Approva has certified integrations with Microsoft, Sun Microsystems, IBM and SAP to provide a holistic GRC solution. For more information, visit www.approva.net.
For more information contact:
Peter Cutler
Director, Communications
peter.cutler@cgi.com
(703) 633-8973
