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SOX Compliance: Why MDM Is a Must

SOX Compliance

In order to comply with Sarbanes-Oxley (SOX), public companies must employ strict internal controls to ensure that financial reports are accurate and reliable. In many cases, those very reports are generated using data straight from the data warehouse.

Herein lies the problem.

ETL processes were likely used to extract data from disparate data sources into the data warehouse, not necessarily using any mechanism to cross-check for 100% accuracy. And we all know the unfortunate, yet possible, consequences of inaccurate data, leading to inaccurate reporting.

Depending on organizational circumstances, the CEO, CFO, or whoever certified the accuracy of the report can be meted a fine of up to $5 Million or imprisoned for up to 20 years. And there’s more. Negative perceptions of the company can quickly spread when inaccuracies are discovered, adversely affecting the company’s stock price.

Just how fatal can these effects be? In the case of some of the biggest accounting scandals – think Enron and WorldCom – the consequences of unreliable reporting ended in bankruptcy.

To avoid any inaccuracies and to comply in full with SOX, it is increasingly important for ETL systems that load data into the data warehouse – especially in the case of financial reporting – to be augmented with mechanisms ensuring data accuracy.

This brings us to MDM, or the Master Data Management system.

As its name suggests, Master Data Management mostly deals with master data (e.g. customers, products, and suppliers) and is non-transactional in nature. Despite this, master data is often used to support transactions. For example, a particular sales transaction won’t make sense if it is only represented by the value of the total sale (e.g. $1,000) and the quantity of the products sold (e.g. 50 pcs). To complete the transaction record, you’d need master data on the customer, salesperson, and product.

When multiple data sources exist, the next question concerns which version of customer, salesperson, or product is being referred to. Large public companies often own numerous business systems, each sourcing data from various databases. The same customer simply entered as “Acme” in one database can be recorded as “Acme Inc.” in a second database and as “Acme Manufacturers Inc.” in another.

An MDM is built to reconcile these issues.

When used as part of an ETL tool, an MDM system can eliminate duplicates as well as validate the correctness, consistency, and completeness of all master and reference data before it gets loaded into the data warehouse.

When using MDM and ETL in alignment, the data warehouse becomes a single reliable source of information for financial reporting.

An MDM system can relieve data warehouse developers of inefficient tasks, typically involving coding and maintaining complex logic for integrating reference data, which lends itself easily to redundancy and human error.

As it incorporates a wide range of corporate governance activities, SOX compliance can be an exhaustive endeavor for any business, and reporting accuracy is certainly a difficult place to start. When setting up the data warehouse for compliance, MDM is the key ingredient in your business’ path towards achieving full compliance.

4WD

4WD

Hi friends, many people have dream to get big vehicle like jeep. It is said to be big investment and it also costs more to maintain those vehicles. It is also very difficult to get services quickly in case of breakdown and hence it is essential to get quality car parts to maintain the vehicle in a better way. For those people who are looking to get quality vehicle parts or jeep parts. Superior quality truck parts and auto parts such as fabric accessories, bumpers, bed covers, seat covers, doors and windows, tonneau covers and other parts can be obtained easily at 4WD. This is a fantastic online store that delivers corrosion resistant and durable accessories.

4WD
Get delightful appearance to jeep and trucks by getting parts in this site. Jeep is said to be best vehicle for enjoying weather and many people prefer jeep for long travel. Travelling in jeep is a good experience and it is also said to be best vehicle for long travel. Even though jeep travel is more comfortable in more situations, it is not possible to travel in bad weather conditions. During bad weather conditions, it is required to install Bestop supertop so that this makes the journey more pleasurable and enjoyable.
By installing supertop in jeep, it is possible to enjoy little shade from the blazing sun. This supertop comes with strong frame work and advanced canvas and the quality of this is absolutely fantastic. Durable bestop seats is said to be best for seating and this is durable. The seat is available in various colors such as spice vinyl, charcoal, gray and others and this makes the interior to look fantastic and gives more comfort during travel. Visit this site and get good quality jeep parts and enjoy travelling.

Features of Firedrive

This post brought to you by Firedrive. All opinions are 100% mine.

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Firedrive is a UK based company that is popular for cloud storage and file hosting service. Putlocker was the former name of firedrive which is renamed on 12th February 2014. It provides storage space of 50 GB and maximum upload file size of 1 GB for the users. It is very easy to access these files on nay device and shared through private and public. Some of the other features include group and file permissions and Filedrops. It is a free site that allows people to use size for free. Additional contents can be accessed by giving the monthly fees.

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Registering in this site is free and new user can get up to 50 GB space for free. There is no uploading limit for new users. Monthly fee is necessary when user needs more space. These users can get uploading limit up to 5 GB. Media files can be accessed easily without downloading. Audio files can be played using web based player and video files can be converted into easily viewable format. Even un-registered free users can get maximum uploading size up to 1 GB for each file. Download limit is given to countries like Malaysia, India and Philippines. When download limit exceeds, message is given to users to remind them. Premium users can download without any constraints.

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Dropbox, Mediafire, Box.net, Mega and Rapidshare are the competitors for the firedrive company. It also allows people to share unlimited number of files with other members of Firedrive. Download links can be created for temporary use. Images and videos can be uploaded from the mobile device. Uploading of files can be done without logging into the account. The files and folders can be shared with non-members of Firedirve site. Password is given for protecting the shared data and the files cannot be removed after specific period.

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Files and folders can be shared in this site in different ways. Files can be shared using email easily. Once the address of the recipient is entered, description for naming files is given. Files can be shared using groups and files can be sent to any groups of the system or you can also create new group. The download links expires when it is downloaded. This is to ensure safety without allowing other people to access the links.

Features

·         You can receive 50GB of storage for free with Firedrive

·         You can access your files from any device

·         Everything is stored privately unless you choose to share

·         You can convert any folder into a filedrop, this allows website owners to receive files from their users without them having to register and they just appear in that folder.

·         1-Time downloads allow people to make sure a file is downloaded only once.

·         FTP Uploading

·         Drag and drop moving and copying of files and folders

·         View files quickly in your control panel using the quickview menu

·         Public profiles allow you to push files and folders to your profile.

Files in this site can be kept private until you wish to make them private. This site provides additional features such as allowing people to share files with any people. Public profiles are allowed for this purpose and you can place the file in those profiles to make them available for public. The web interface is clean and nice and gives a very modern look. The drag and drop interface allows you to manage the files and organize them in a very easier manner. Visit the site and use the cloud storage and get to the other features available in it and use them wisely.

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Best songs with your Windows Down Playlist

This post brought to you by Kia Rio. All opinions are 100% mine.

Best songs with your Windows Down Playlist

Have you heard about Kia Rio ““Best Songs with your Windows Down” playlist? The picture below shows the screenshot of my song submission. It is very to submit a song there and it doesn’t take much time. The submission process is very simple. Go to the face book page of Kia Rao and follow the steps given there and your submission process is complete. 
I choose the Jennifer Lopez – Love songs (Baby I Love You). I am one of the great fans of Jennifer Lopez. This song always reminds me of my love and it is one of my favourites. Once I submitted this song, I received a message that my song is currently under review and it is awaiting approval. I am very happy to know that my song is going to count sooner or later. 
It is very interesting to know how other people vote for my song and how many are going to like it. If this interests you, you can also submit your favourite song by downloading Spotify application. I request the readers to leave a comment on my post to let me which song you have submitted and the reason for the submission. Checking the playlist regularly so that you can know the new songs submitted every day. 
You can also know about the Voice-Activated UVO Infotainment System powered by Microsoft by visiting the site http://www.kia.com/#/uvo. 

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Don’t Leave Your Check Blank!

If your business prints its own checks, it is important for you to make sure that everything is in place so that you can do so effectively and securely. In many cases, this is going to be done with the right type of check writing software and HP toner that is going to allow you to print with the specific type of bank that is needed for those checks. It is also necessary, however, for you to consider the security that is available in your local network as well as in any peripherals that are attached to the network. How can you ensure that you are up-to-date on any of the security measures that need to take place?

Something that is often overlooked when it comes to check writing security is the security of the blank check paper that is being used (Source:Troy Group – Blank Check Paper). Quite simply, you would not want to give access to that paper to anyone, but only those that have the authority to print the checks directly. Unfortunately, securing the paper can be problematic unless you have a printer that is specific to that task. There are some secured check printing printers which have locking trays that secure the paper along with other parts of the printer in order to deny access to anyone that is not authorized. Of course, you would also want to ensure that the network that you were using in the office did not allow anyone without access from being able to print those checks as well. When those two items are in place, you will find that it is far less likely that security issues will be a problem.