Trustmi Launches Advanced SOX Compliance Solution

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Jan 24, 2024, 09:00 ET

AI-powered solution simplifies reporting to ensure compliance with increased regulatory requirements

NEW YORK, Jan. 24, 2024 /PRNewswire/ -- Trustmi, the leader in business payment security, today launched its Sarbanes-Oxley (SOX) Compliance solution for business payments. This AI-powered solution empowers organizations to take a proactive, automated approach to compliance audits, enforcing business controls in real-time across the entire payment flow.

"We are transforming how businesses address compliance by shifting from a reactive, highly manual operation to an automated business process," said Shai Gabay, CEO and co-founder of Trustmi. "Our SOX Compliance solution provides complete visibility, continuous monitoring, and reporting, which eliminates manual, point-in-time audits. With real-time insights and integration with existing systems, teams can focus on their core priorities, spending less time on audits by proactively ensuring compliance."

Public companies have long struggled with the high levels of complexity that come with SOX compliance. Existing tools rely on a reactive approach to SOX reporting, only detecting past incidents on payments and identifying gaps only after they occur. This approach is no longer acceptable with the SEC's latest rules adopted in July 2023, which require organizations to disclose material cybersecurity incidents they experience and information regarding their cybersecurity risk management, strategy, and governance. Business payments are particularly vulnerable to attack, which makes it imperative that companies protect every aspect of the B2B payment process to ensure compliance with these regulations.

By leveraging the Trustmi platform's AI, the SOX Compliance solution establishes a payment and approval flow process baseline. By identifying legitimate patterns and highlighting anomalies, the solution allows organizations to validate their compliance requirements, enforce strict controls on new processes, and prevent SOX violations in real-time. The solution transforms the manual audit effort into an automated approach that simplifies audit preparations with robust reporting capabilities.

"Through automation, Trustmi's SOX Compliance solution streamlines compliance requirements in existing processes, starting with the vendor onboarding through to the payment," said Eli Ben Nun, CTO and co-founder of Trustmi. "Trustmi does all the heavy lifting, giving customers confidence in their controls and state of compliance."

For more details about Trustmi's SOX Compliance solution please visit here. To view a demo, visit Trustmi.ai.

About Trustmi

Trustmi is the only end-to-end payment security solution that helps businesses protect their bottom line by eliminating losses from cyberattacks, internal collusion, and human error. Trustmi's flexible and modular solution offers businesses complete control to use only the tools they need for securing their payment processes and managing their vendors. Founded in 2021 by Shai Gabay and Eli Ben Nun, Trustmi is headquartered in Tel Aviv with an office in New York City. For more information, visit https://www.trustmi.ai/.

Contact:

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SOURCE Trustmi