Multiple Regulations, Protecting Client Data and Managing Enterprise Risk Drive Global Risk Mitigation Solutions Provider to Automate Compliance Processes
Denver, CO -- (ReleaseWire) -- 09/18/2006 --ControlPath Inc., a leading developer of automated compliance management solutions, announced today that First Advantage Corporation (NASDAQ: FADV), a leading global risk mitigation and business solutions provider, has selected the ControlPath Compliance Suite 3.0 as the central software component of its comprehensive, company-wide Security Risk Management program. First Advantage evaluated tools from nine other vendors before selecting ControlPath.
ControlPath’s automated compliance management tools will streamline First Advantage’s efforts as it complies with all applicable governmental regulations and laws including the Sarbanes-Oxley Act (SOX), Gramm-Leach-Bliley Act (GLBA), Fair Credit Reporting Act (FCRA), Drivers Privacy Protection Act (DPPA) and state privacy laws. Headquartered in St. Petersburg, Fla., First Advantage has purchased approximately 50 companies since June 2003.
The ControlPath Compliance Suite, with its extensive security controls knowledgebase, coupled with robust workflow and enterprise risk reporting capabilities, enables an efficient compliance self-assessment and automated management of corrective actions and controls testing. With a library of more than 2,200 controls, ControlPath simplifies the creation of policies and the mapping of compliance regulations.
“Customers today demand top-flight security and privacy, and using ControlPath’s software gives First Advantage the tools to address these demands. said Isabelle Theisen, chief security officer of First Advantage. “Managing enterprise risk and compliance are monumental tasks made significantly easier and more efficient with the ControlPath Compliance Suite.”
According to the ControlPath Compliance Progress Survey, managing compliance for multiple regulations is still highly manual and generally involves using multiple projects, one for each regulatory compliance mandate. Across the board, compliance costs continue to rise as more compliance regulations are being implemented within organizations. The same survey found that respondents who are either fully or mostly automated, as compared to those who are entirely manual, are more than twice as confident that they are in compliance.
“Because First Advantage is required to comply with so many regulations, the benefits of the ControlPath Compliance Suite will be magnified,” said Scott Walker, chief executive officer, ControlPath. “With the power to manage controls and compliance across any regulation, the software will greatly improve First Advantage’s efficiency.”
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and subprime markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills assessment and testing; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top three companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 4,300 employees in offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.
First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a FORTUNE 500® company that traces its history to 1889. First American is America's largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people's lives. Additional information about the First American Family of Companies can be found at www.firstam.com.
ControlPath Inc., a leading developer of automated compliance management solutions, helps organizations transform their compliance programs across multiple regulations and standards through automation. The ControlPath Compliance Suite offers the most robust compliance workflow, most powerful organizational modeling capabilities and most comprehensive solution scope of any product in the market. Corporations in financial, manufacturing, retail and other industries rely on ControlPath to help develop more effective and less costly compliance programs and processes. Privately held ControlPath is headquartered in Englewood, CO. For more information, call 303-414-3635 or visit www.controlpath.com.