AXENTIS Demonstrates Leadership and Strong Momentum in Energy & Utilities Industries

AXENTIS, provider of the industry’s most comprehensive and widely deployed governance, risk and compliance (GRC) management solution, announced they offer a unique solution for the energy sector and significant growth has been achieved in 2008. Highlights from the past year include a partnership with Navigant Consulting, Inc. (NYSE: NCI) to provide controls, standards and regulatory updates. Together, the companies have also have landed multiple customer wins and have held thought-leadership roles at key industry conferences and educational events.

“Now that the North American Electric Reliability Corporation (NERC) can enforce reliability standards – the penalties of non-compliance are a harsh reality,” said Brett Curran, Vice President of GRC and Regulatory Practices at AXENTIS and former Chief Compliance Officer for a large life and health insurer. “Keeping up with regulatory demands in the utilities sector is more challenging and more urgent. As we’ve seen with Sarbanes Oxley, companies typically embrace compliance when faced with fines and other penalties. Before it becomes an issue, AXENTIS is quickly and seamlessly helping companies increase GRC capabilities, reduce cost, simplify and automate cumbersome processes, and leverage links between risk and compliance management.”

In order to best serve the energy sector, AXENTIS entered into a strategic partnership with Navigant Consulting, an international consulting firm providing dispute, financial, regulatory and operational advisory services to government agencies, legal counsel and large companies facing the challenges of uncertainty, risk, distress and significant change. Under the terms of the partnership, Navigant Consulting provides the regulatory requirements for the energy sector and specific clients, which are made available to AXENTIS customers via AXENTIS Enterprise. As a result, energy organizations are now able to quickly track and manage business-critical regulations.

Throughout 2008, AXENTIS secured clients in the energy sector and worked with them to implement a risk-driven compliance approach. These significant relationships demonstrate AXENTIS’ ability to serve the unique needs of the energy industry by effectively managing and addressing numerous, complex mandates for internal and external constituencies. Specifically, energy companies are leveraging AXENTIS for the following:
• North American Electric Reliability Corporation’s Mandatory Electric Reliability Compliance;
• Additional Regional Reliability Requirements;
• Risk and Control Management;
• Single Sign-On; and
• Human Resources Policies Integration Capability.

To communicate the increased importance of compliance in the energy market, AXENTIS is offering an on-demand Webinar entitled “Electric Reliability and Regulatory Compliance” available at www.AXENTIS.com/webinar.aspx. This on-demand Webinar outlines practical approaches on how to organize and manage an effective electric reliability compliance program. AXENTIS executives also had a strong presence at Infocast’s Federal Energy Regulatory Commission (FERC) Compliance Summit held in October 2008 to discuss the latest information on energy industry regulations and the Commission’s compliance enforcement policies.

“Our goal is to be armed with the most updated information and have our finger on the pulse of the challenges and needs of these industries,” added Curran. “AXENTIS is the partner that can best solve the risk and compliance challenges of energy and utility organizations in 2009.”

AXENTIS is a global leader of governance, risk and compliance (GRC) management solutions for highly regulated industries including life sciences, healthcare, financial services, manufacturing, and energy. AXENTIS Enterprise® enables organizations to effectively and consistently address internal and external risks associated with all legal, regulatory, and corporate mandates and policies with which they must comply including established federal government standards for an effective compliance program. Founded in 1999, AXENTIS delivers via a Software-as-a-Service (SaaS), reaching individuals worldwide. For more information, please visit www.AXENTIS.com.

Axentis, Inc.
Skylight Office Tower
1660 West Second Street, Suite 250
Cleveland, OH 44113

Toll Free: 760-822-9491
Media Contact: Dana Stanton

This release was published on openPR.