The Swiss Federal Railways Are in Control With BWise Internal Control Software
NEW YORK and 'S-HERTOGENBOSCH, Netherlands, Oct. 10, 2012 (GLOBE NEWSWIRE) -- BWise, a NASDAQ OMX company and a global leader in Governance, Risk Management and Compliance (GRC) software, announced today the successful implementation of its software solution for internal control at the Swiss Federal Railways (Schweizerische Bundesbahnen – SBB). Using the BWise software helped SBB reduce the complexity of their internal control system, save costs and improve efficiency.
With more than 28 000 employees, eight billion CHF turnover and 357 million passengers every year, the SBB is one of the major public transport companies in Switzerland and globally. The company also stands out in the areas of sustainability, corporate responsibility and corporate governance. To support these leading practices and ensure compliance with Swiss regulations and global standards related to internal control (OR728a, PS 890, PS 400), SBB decided to acquire and implement an advanced GRC platform. The selection process resulted in the choice of the BWise Internal Control solution that supports the end-to-end internal control process from the documentation of all controls and mitigating measures to control testing and issue management.
Mr. Widmer, department Finance – Corporate Accounting at SBB explained, "BWise software enables us not only to document and test our internal control system but also to support its optimization and its development. One very important point for the decision was the high user-friendliness and the intuitive use of the BWise GRC platform. This led to a higher acceptance of the system and allowed us to free up time for managers to improve our internal control on a content perspective."
Richard Jansen, BWise Managing Director DACH, said, "The regulation in Switzerland and Germany as well as evolving auditing standards, are more and more demanding in the area of internal control. Companies must not only show they have an internal control system in place, but also demonstrate its effectiveness. This is most efficiently done using a software solution. BWise already helps numerous companies like the SBB to comply with these stringent regulations in a pragmatic and efficient manner."
Let's start with some figures: Every year, SBB transports 357 million passengers and 50 million net tons of freight. Its 3000 route kilometers are actually fairly modest by comparison with the 24,500 km that make up Switzerland's public transport network as a whole.
With the exception of Herisau and Appenzell, all of Switzerland's cantonal capitals are on the SBB network. Over 800 stations have hourly or half-hourly train services. Two-thirds of all freight passing through the Swiss Alps goes by train. SBB Cargo transports 195,000 tons of freight by rail every day for its customers.
Over 28,000 railway employees work round the clock to keep trains running safely and punctually. So SBB isn't just the largest travel and transport company in Switzerland, it's also one of the biggest employers.
BWise, a NASDAQ OMX company, is the global leader in Enterprise Governance, Risk Management and Compliance (GRC) software. Based on a strong heritage in business process management, BWise delivers a truly integrated and proven GRC platform.
With this platform, BWise supports an organization's ability to track, measure, and manage key organizational risks in one integrated system. By doing so, BWise helps customers to truly be in control by sustainably balancing their performance and financial and reputational risks. BWise enables customers to increase corporate accountability; strengthen financial, strategic and operational efficiencies, maximize performance, and better understand risks. Using BWise, organizations are able to comply with regulations such as Sarbanes-Oxley, ISAE3402/SAS-70, PCI, Solvency II, Basel II and III, Dodd-Frank, ISO-standards, European Corporate Governance Codes and many more.
BWise provides for the GRC needs of hundreds of customers worldwide, across all industries. Customers include adidas, AEGON, Ahold, AngloGold Ashanti, Connexxion, Health Alliance Plan (HAP) of Michigan, LeapFrog, Liebherr, Marathon Oil, Southern Company, Swiss Life, and Transcontinental. BWise has offices in the Netherlands, United States, Germany, France and the United Kingdom. For more information, visit www.bwise.com.
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