Solix bets big on SOX Act

Sunnyvale, California-based Solix Technologies Inc, a provider of enterprise data management solutions for information lifecycle management (ILM), sees great opportunity in the Sarbanes-Oxley Act (SOX) and other recent regulations to push its soon-to-be launched SAP version of enterprise data management suite, Solix EDMS.

The software facilitates compliance and ILM management from a single platform for enterprise customers.

SOX is a legislation enacted in the US in 2002, to protect shareholders and the general public from fraudulent practices in publicly-listed enterprises. The Act states that all business records must be archived at least for seven years.

"Implementation of SOX is gaining rapid acceptance among many companies, especially in the US. We have positioned our new comprehensive archiving suite to enable SAP application users to be compile with regulations like SOX and achieve ILM goal. We already gave the proof-of-concept to a number of SAP customers who have shown keen interest in our product," Prasada Pyla, vice-president (engineering, SAP product line), Solix Technologies, told Business Standard.

The company plans to launch the product by July and expects it to generate significant revenues in the first year of the launch.

Solix is also set to release a cross-application analytics tool and an active business processing archiving solution that supports Oracle process manufacturing, during the next quarter.