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KPMG Certifies BWise SaaS and Application Management Services for ISAE 3402 Type II

By Arvind Arora
TMCnet Contributor

Software as a Service applications are being adopted by enterprises worldwide in a rapid manner. While these solutions offer a cost effective and streamlined approach to the clients, their externally provided model raises some security related issues.

BWise, a provider of enterprise governance, risk management and compliance software solutions that allow organizations to track, measure and manage key organizational risks in one integrated system, has announced that its BWise SaaS (News - Alert) and application management services have been certified by KPMG, an external auditor for the new International Standard on Assurance Engagements No. 3402 or ISAE 3402 Type II.

KPMG has recognized BWise as a bankable organization for management of the outsourced processes from its customers within its ISAE Service Organization Controls Report. KPMG had previously designed and certified all risks with respect to ISAE 3402 in March this year, and has now audited and approved of the execution of these processes as a part of the new ISAE 3402 type II certification. The ISAE 3402 is a standard known worldwide, and has replaced the international SAS (News - Alert) 70 standard. With this development, the standard has become comparable to the US-recognized SSAE 16.

“BWise can now provide full and audited ISAE 3402 Type II assurance for its SaaS and Application Management services,” commented Tonny Boerboom, chief operations officer at BWise. “This certification is a demonstration of our commitment to safeguard the outsourced financial processes of our customers,” added Boerboom.

The company leverages its BWise governance, risk management and compliance software solutions for powering its application management and SaaS services that have been verified by KPMG. It is also helpful in documentation, assessment and review of all the workflows and risks relevant to BWise Application Management Services and SaaS, enabling the company to manage and reduce the costs related to its auditing process considerably. BWise’s platform allows enterprises to sustainably balance their performance and risks; and increase corporate accountability; strengthen financial, strategic and operational efficiencies as well.

In October 2011, BWise announced its new solution for sustainability performance management, with an aim to develop a convenient SPM solution to assist companies efficiently collect, analyze, report and filter up sustainability performance information to the corporate level, using risk management methodology and its state of the art GRC platform technology. Named BWise SPM, the solution integrates the management of sustainability risks into daily operations, following a risk management approach.