PIM Solution Can Help Aftermarket
Companies Meet SOX Compliance

DETROIT / BROCKVILLE, ONT -- As automotive parts suppliers close their books on 2005 - a tough year that saw a number of leading companies having to restate earnings and come under the review of the Securities and Exchange Commission for accounting and pricing irregularities - it's becoming increasingly apparent that many of them need stronger oversight and processes related to parts and pricing management, says Terence J. O'Reilly, president and CEO of Pricedex Software, Inc.

"It's no wonder they're having difficulties," says Mr. O'Reilly. "Sarbanes-Oxley (SOX) has forced greater accountability and transparency into financial management, and many corporations are ill-equipped to comply, so questionable practices and IT process deficiencies continue, and are simply coming to the surface."

SOX also requires greater internal financial controls and processes that can generate financial reports that are readily verifiable with traceable source data. And it requires that changes to financial reports be fully documented as to what was changed, why, by whom and when; in other words, an audit trail. The same is true with a number of other key business processes such as pricing and special pricing.
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Introducing the ‘Four Pillars of PIM’ to the Aftermarket

With the explosion in the number of makes and models of new cars and trucks on the nation's highways today -- and the corresponding increases in the numbers of service parts -- manufacturers and parts resellers have never been more challenged to efficiently and profitably manage the millions of pieces of information required to support the distribution, selection and purchase of the right part.

Fortunately, robust software technology from companies like Pricedex is available that allows manufacturers to dramatically reduce their costs in creating, managing and disseminating accurate part pricing and product information to their selling chains.

Much more than a simple catalog publishing tool, this technology is broadly referred to as Product Information Management (PIM) software and the best, most comprehensive solutions comprise tools to manage pricing, product and part information, cataloging, publishing and data synchronization. And the preferred systems put all of this online so that manufacturers can work between their global operations as well as with customers to exchange up-to-the minute information.
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