Trustmi has unveiled its groundbreaking Sarbanes-Oxley (SOX) Compliance solution. This innovative product, powered by artificial intelligence, is set to transform the approach organizations take towards compliance audits by automating and enforcing business controls in real-time across all payment flows.
Shai Gabay, CEO and co-founder of Trustmi, emphasized the transformative nature of this solution. “We are transforming how businesses address compliance by shifting from a reactive, highly manual operation to an automated business process,” Gabay stated. He highlighted the benefits of the new SOX Compliance solution, which includes complete visibility, continuous monitoring, and reporting. This eliminates the traditional manual, point-in-time audits and allows teams to focus more on their core priorities, thanks to real-time insights and integration with existing systems.
The introduction of this solution is particularly timely given the complexities public companies face with SOX compliance. Historically, companies have used reactive tools for SOX reporting, which only detect past incidents and identify gaps post-occurrence. However, with the SEC’s latest rules, adopted in July 2023, requiring organizations to disclose material cybersecurity incidents and their cybersecurity risk management strategies, there’s an increased urgency for proactive measures. Business payments, being highly susceptible to attacks, need robust protection to meet these regulatory standards.
Trustmi’s SOX Compliance solution leverages AI to establish a baseline for payment and approval flow processes. It identifies legitimate patterns and highlights anomalies, enabling organizations to validate their compliance, enforce strict controls, and prevent SOX violations in real-time. This AI-driven approach transforms manual audit efforts into a streamlined, automated process, simplifying audit preparations and enhancing reporting capabilities.
Eli Ben Nun, CTO and co-founder of Trustmi, spoke about the solution’s ease of integration. “Through automation, Trustmi’s SOX Compliance solution streamlines compliance requirements in existing processes, starting with the vendor onboarding through to the payment,” said Ben Nun. He emphasized that Trustmi handles the complex aspects, giving customers peace of mind regarding their control systems and compliance status.
This launch represents a major step forward in the field of business payment security, offering organizations a more efficient, automated, and proactive approach to SOX compliance.
