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News < Back Sarbanes Oxley : Technology : Content Management Coca-Cola Bottling Selects Open Text Livelink Company Streamlines Internal Controls Reporting To Help with Sarbanes Oxley Compliance
Based in Charlotte, North Carolina, Coca-Cola Bottling Co. Consolidated (CCBCC) is the U.S.’s second largest bottler of Coca-Cola and other well-known consumer soft drinks. Founded more than 100 years ago, the Company is a leader in the manufacturing, marketing and distribution of soft drinks. CCBCC operates today in 11 U.S. states, managing territories with a consumer base of 18.7 million people. The company's 6,000 employees operate five production centers, and 47 sales and distribution centers. Extending its existing Livelink ECM document management system with Livelink ECM – Internal Controls was an easy and cost effective way of creating a company-wide compliance platform for documenting and testing the Company’s internal controls over financial reporting. “Like any large company, we’re focused on the best ways to manage compliance and improve our business,” said Christa Arnett, at CCBCC. “Open Text offered us the advantage of being able to extend our current Livelink ECM document management solution with integrated corporate governance capabilities. With our new solution, we can reduce the cost and complexity of compliance activities through a unified system with processes for internal controls built right into our document management platform.” Open Text’s solution helps CCBCC document controls and policies, automate certification processes, automate the testing of critical controls, and improve the internal reporting of Section 404 compliance efforts. By using Livelink ECM, CCBCC eliminates the costs of multiple compliance applications and speeds deployment. Arnett added, “Livelink ECM is much more than a solution for testing internal controls in compliance with Sarbanes Oxley section 404. Livelink ECM provides a scalable platform with fundamental capabilities like document management, electronic forms, and workflow.” “Internal controls and corporate governance are ultimately about running a better business,” said John Wilkerson, Executive Vice President of Global Sales, Services and Support at Open Text. “This is clearly the focus for CCBCC. Having a better understanding of the controls which do and do not significantly impact financial statements contributes to a better overall understanding of the business and its operations.” Aimed at the corporate governance demands of large, global companies, Livelink ECM – Internal Controls offers a centralized, enterprise-wide system to manage internal controls information, including the ability to automate processes and internal reporting. The solution is based on Open Text’s Livelink ECM suite, which provides a broad platform for managing enterprise compliance, so customers can bring internal controls processes into a broader compliance strategy. The solution combines powerful corporate governance tools, including a complete “controls library” to maintain all information on internal controls and risk mitigation; controls testing and self assessments; issues remediation and task management; audit trails; employee certifications; and reporting. Other key features include workflow and e-mail integration to manage key processes involved in the certification of internal controls. The solution also allows internal control tests, assessments, deficiencies and remediation plans which can be assigned, reviewed and monitored throughout a company’s financial reporting period. Using this information, executives can monitor and generate reports at any time regarding the progress of testing, the status of deficiencies and their remediation, and the state of their internal controls. An added benefit is that this information is locked to a financial reporting period, providing a comprehensive archive of past activities. For more information on Open Text’s Livelink ECM – Internal Controls solution Open Text, an enterprise software company and leader in enterprise content management, helps organizations manage and gain the true value of their business content. Open Text brings two decades of expertise supporting 46,000 customers and millions of users in 114 countries. Working with our customers and partners, we bring together leading Content Experts™ to help organizations capture and preserve corporate memory, increase brand equity, automate processes, mitigate risk, manage compliance and improve competitiveness. For more information, visit www.opentext.com. 
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