Azilon

May 2009

Azilon launches Risk Auditor Release 2.0

SANTA CLARA, CALIFORNIA --
Azilon Corporation, provider of Enterprise Process Governance solution today announced the release of their Azilon Risk Auditor 2.0. Azilon Risk Auditor is designed as per RBI's guidelines and is currently used by leading Indian Banks.

Azilon Risk Auditor enables risk calibrated planning, execution and management of audit process. It identifies risk in a systematic manner thus reducing the likelihood of failure in the auditing process. The focus is on auditing resources where the impact of risk may be high. Azilon Risk Auditor minimizes unwarranted audit intervention resulting in smoother workflow leading to effective audits.

Azilon Risk Auditor Release 2.0 includes enhanced management reporting capabilities with a rich set of dashboards and out-of the box reports, extensive reporting with risk and control analysis, audit carryover feature, remote audits and extended ORM functionality that further enhances the usability of the solution. Release 2.0 also includes enhanced collaboration capabilities within the audit team to improve visibility, quicker response times and improved efficiencies.

Azilon Unveils Knowledge based Process Automation Software for Shared Services and BPO industry

SANTA CLARA, Calif.--(BUSINESS WIRE)--
Santa Clara based Azilon Corporation, provider of Enterprise Process Governance solutions, today announced the release of their Process Optimizer product Version 3.0 designed specifically for the Shared Services and BPO industry segment.

Azilon Process Optimizer streamlines the F&A business transactions by automating manual processes, establishing internal controls, building knowledge repository and empowering users to efficiently perform their operational activities. It helps organizations build a common knowledge based technology platform and a unified database to facilitate standardized and automated process around business application systems.

Azilon Process Optimizer Version 3.0 provides industry specific solution for Shared Services, BPO and KPO segments. It combines process automation, control automation, SLA management and advisory dashboard to offer knowledge-based transaction processing for F&A operations. Benefits include productivity improvement, control enforcement, reduction of payment and revenue leakage. Shared Services and BPO organizations can significant reduce their operational cost and use their best practice processes without requiring changes to the underlying ERP system. This new release supports SAP, Oracle and Infor/Baan ERP systems.

Azilon is working with several leading Shared Services and BPO organizations for the implementation of this industry specific solution.

"Shared Services and BPO organizations managing F&A operations are faced with business and operational challenges that are not addressed by the ERP financial systems. Large parts of their business processes are still manual and labor intensive.” said Pravat Rout, CTO of Azilon Corp. “Azilon’s Process Optimizer version 3.0 is designed to transform F&A operations from the current labor arbitrage dependent model to a technology enabled platform that provides strategic, business and cost benefit. Shared Services and BPO organizations will fully realize the benefits of enterprise process automation through greater insight, process efficiency and compliance, while reducing operational cost up to 40%”.

About Azilon:
Azilon is a leading provider of Enterprise Process Governance solutions. We help customers achieve operational excellence, optimize business processes and comply with regulatory requirements. To address repeatable, sustainable enterprise-wide governance, Azilon offers a suite of software products for Business Process Automation and Control Management.

Oracle OpenWorld is the world's largest gathering of Oracle customers, partners, developers, and technology enthusiasts. Visit us in the Moscone West Exhibit hall at booth No. 3232 and learn how Azilon’s Process Optimizer solution can help your organization to reduce transaction processing cost, comply with internal controls, improve business efficiency and automate manual processes.

Azilon participated in the GRC 2008 Conference, the premier event of the year for business and IT professionals who are responsible for compliance, governance, and risk management on March 10-13th in Orlando, Florida.

Azilon participates in the ANI's Annual Healthcare Finance Conference in San Diego, June 25-26, 2007

Azilon participated in the ANI's 2007 Healthcare Finance Conference , the premier event of the year for healthcare financial executives held June 25-26 at the San Diego Convention Center. The 2007 Healthcare Finance Conference covers the hottest issues facing the healthcare industry and provides a professional setting to network with some of the industries most influential leaders.

For more information, click here to visit ANI's Annual Healthcare Finance Conference website: www.hfma.org/events/ani

New GRC Software Version
D’Risk 3.0 Adds Significant Value with New Analytic Module and Enhanced Domain Content

SANTA CLARA, Calif.--(BUSINESS WIRE)--
Santa Clara based Azilon, provider of D'Risk software platform for GRC (governance, risk management, and compliance) today announced D'Risk 3.0. The new platform automates compliance processes and helps in reducing cost and time for regulatory requirements.

This new D'Risk version 3.0 will effectively reduce the compliance costs for US Sarbanes Oxley Act. It will significantly improve financial control costs through process improvement and automation.

D'Risk is a full suite of operational risk products allowing a financial institution to reach AMA compliance. It is an entirely web-based, integrated solution, which operates with any client environment and is able to create a parametric view of risk that is statistically justified through internal related assumptions.

D'Risk 3.0 adds significant value with a new analytic module and enhanced domain content and continues Azilon's vision to offer the best end-to-end robust solutions in the market.

Sushant Patnaik, CEO Azilon said, "Azilon is addressing the biggest concern facing CXOs. Compliance costs are rising for US companies adding costs and eroding their competitiveness. Azilon combined world-class technology solutions to automate the process of compliance with pre-loaded, best practice regulatory content. Azilon has incorporated best-practice content for Sarbanes Oxley compliance, internal audit, risk assurance, and fraud prevention in version 3.0 by teaming with experienced domain experts in multiple industries. D'Risk not only detects violations but actually prevents and controls them thereby providing customers with the means to enhance their productivity and efficiency. We provide unique solutions that are unmatched by other technology companies."

About D'Risk:
D'Risk is an Enterprise wide Risk Management Solution that provides a process driven risk identification and auditing approach by taking a holistic view of organizational risk profile.
The solution integrates the output of various risk management solutions. Azilon's D'Risk product suite and related services help customers efficiently meet global regulatory compliance, financial control management, and operational risk management objectives.

Silicon Valley based Azilon Corporation, a GRC (governance, risk and compliance) software solutions leader has released D'Risk version 3.0 for the Indian market.

The version claims to reduce compliance costs for the US Sarbanes Oxley Act and can be applied to SEBI's Clause-49 compliance also.

The application version will significantly improve financial control costs through process improvement and automation. D'Risk is a full suite of operational risk products to allow a financial institution to reach AMA compliance.

D'Risk is an entirely web-based, integrated solution, to operate with any client environment and will be able create a parametric view of risk to be statistically justified. D'Risk 3.0 claims to add significant value with a new analytic module and domain content.

Ted Baumsteiger, Director of Sales, Azilon, adds, "Azilon prides itself on solving big problems for CXOs. Compliance costs are rising for Indian companies, especially those that are listed in multiple markets like India and US."

Azilon claims to solve GRC by combining world-class technology solutions with best practice content. Azilon has incorporated content for Sarbanes Oxley compliance, internal audit, risk assurance, and fraud prevention in version 3.0 by teaming with experienced domain experts in multiple industries. D'Risk claims to not only detect violations but prevent and control them to provide customers with means to enhance productivity and efficiency.

Azilon client list in India and globally includes PNB and HDFC, Wells Fargo, Caloptima, Molina Healthcare, Pacificare, United Healthcare.

Azilon to present Integrated risk management framework at Internal auditors forum

Azilon to present Integrated risk management framework at Internal auditors forum Martin Davies our Chief Risk Officer will be chairing the risk Internal Auditors Forum at Mumbai, India on 27th and 28th of November and will also be delivering a detailed presentation on how an organization should design and implement an integrated risk management framework.

”The risk-management framework you design should balance the risks from the threats you have identified against the possible rewards from taking those risks.”

Designing and implementing an integrated risk management framework by linking risk management with strategic planning process.

Identifying common risks definitions and generating the corporate risk profile

Aligning risk to business strategies and adapting to management challenges

Building a risk model and risk rating criteria

Recognizing, assessing and prioritizing risks

Categorizing key controls and establishing risk mitigation procedures

Establishing a risk reporting, oversight framework and training

Setting up an integrated risk management function

Practicing integrated risk management and sustaining continuous risk management learning

Azilon exhibited during the 2 day CAHP Conference on October 19-20, 2006 at the Hyatt Grand Champions Resort, Indian Wells, CA. CAHP is a statewide trade association representing the majority of licensed health care service plans and has been an active voice for the health care industry. The conference featured industry experts with insight to many crucial compliance issues including Provider Payment Dispute Resolution, Electronic Medical Records, Pay for Performance & Quality Management, Consumer Directed Health Plans and Managing a Medicare Part D Benefit

Singapore office chaired the Avail Op Risk Congress which had a large number of eager bankers, risk practitioners, regulators and other related bodies attending. The two day conference covered a diverse set of Op risk agendas from Anti Money Laundering, to Loss Data Approach for capital calculation. There was also a strong lean towards scenario analysis amongst many of the speakers and interestingly it is becoming apparent that each year brings new varied responsibilities to every operational risk manager globally. At Azilon we strive to develop solutions to minimize the effort required to manage these requirements and we will be taking many ideas away with us from this conference to enhance our systems.

Over the last two months Azilon has also been very successful with its two day risk workshop pilot in Indonesia. This is an advanced course that has been designed by bankers and risk practitioners for you. It clearly defines what is required by Basel II regulation and shows some unique methods for achieving both the quantification of exposure and some of the more nebulous qualification components regulatory bodies have been demanding of banks. All course participants receive the "Capital Compass" documentation, additional reading material and a statistical calculator which can assist them curve fit their exposure.

CPM (Centralized Performance Matrix) allows banks to pool external loss data and provide various scenario information. Azilon plans to release this additional module (the CPM) to holders of a D'RisK system that will allow banks to share data with a central repository in a confidential manner.

Azilon enhances its D'RisK-Finance solution with Continuous Control Monitoring capability

Azilon has enhanced its current D'RisK-Finance solution with a new D'RisK-CCM engine. This will enable continuous monitoring of Controls for all major financial business operations and provides exceptions to business process and control owner in a real time basis. The solution provides an integrated platform and built in controls for major ERP systems.

Azilon has opened a new office in Singapore and Malaysia to meet the growing demand for its products and services from customers in the Asia Pacific region. The new office will focus on establishing new partnerships and customer relationships as well as increasing the company's presence and support in the region.

The development of FMS version 2.0 is designed to improve the functionality of FMS version 1.0. The improvement will provide organizations with a comprehensive tool to perform multi-state filings. Other than the existing features of centralized document repository, alert and email notification, task reminder, calendar view or correspondence management, FMS version 2.0 have integrated enhanced features such as Usability Improvements, increase system security, advance user privilege management and dynamic report builder that enables instant report generation.

Azilon forms partnership with FERNBACH, a leading software provider for financial services

Azilon and FERNBACH signed a partnership agreement on the joint marketing of the FlexFinance^® product range.